Top Small Business Boom Trends
If you’re thinking about starting your own business, here’s an into to top trends for 2010 that look like they’ll last through 2011.
Here’s a statistic. The American Pet Products Association said that based on previous years, the forecast of pet related sales for 2009 was $45.4 billion. That’s more than some national budgets, to put that figure in perspective. So whether you’re pet sitting, walking, a pet water therapist, looking into setting up a veterinary practice or selling pet supplies, chances are you’re appealing to a devoted, growth industry.
The U.S. Bureau of Labor Statistics says the aging-services industry--home healthcare, elderly and disabled services, and community care facilities for the elderly-- are three of the top 10 industries with the fastest employment growth. In-home care for seniors employs a 1.33 million Americans are employed as in-home senior care workers. Revenue in this industry is expected to grow beyond $72 billion by 2011. Clearly, if you choose to serve seniors, we Boomers will thank you with revenue.
The government stimulus plan put billions of dollars into renewable energy, smart grid and green auto technology. Cleantech Group is a research firm that reports venture capital investment in clean technology, meaning how much wealthy folk invest in businesses which are working with non-traditional energy. The category got 27 % of all investment dollars in just the third quarter of 2009—or 1.6 billion dollars. Go get those venture capital dollars for your own green energy ideas.
Nurtured into being by the book Plenty: Eating locally on the 100-mile diet, demand is exploding for locally grown and made food and now products. The Small Business Administration (SBA) says that for every $100 consumers spend at a locally owned business, $68 comes back to the community. Only $43 comes back to the community from a purchase made at a national chain store.
So whether you’re a farmer taking advantage of the USDA’s "Know Your Farmer, Know Your Food" marketing campaign, or have a locally made gift shop on Main Street, you’re helping your wallet and your community.
Whatever trend you choose for your small business, remember the SBA offers free counseling, training and expertise from business development specialists in your industry.