Five industries with promising futures, based on data from the U.S. Bureau of Labor Statistics, market research firm IBISWorld and financial information company Sageworks:
1. Health care
According to an outlook by the Bureau of Labor Statistics, more than half of the 20 occupations projected to have the highest percentage increase in employment by 2024 are in the health industry.
29 states and the District of Columbia have legalized medical marijuana. IBISWorld predicts that industry revenue for medical and recreational marijuana growers will jump 33.5 percent over the next five years. The retail side of the business is also expected to see sales rise this year.
E-commerce can be an easily saturated market. To increase your online business’ chance of success, focus on your customers — whether through customizable products, timely support or fast delivery of products.
IBISWorld projects a 31 percent revenue boost for smartphone app developers in 2017. Don’t forget about the support side of the industry; Sageworks found that consulting and installation services had strong sales growth in 2016.
5. Home and building maintenance
From landscaping to cleaning to pest control, businesses in maintenance industries saw a 13 percent increase in sales in 2016, according to Sageworks.