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Friday, May 29, 2015

Top 5 Business Sectors To Invest In Today

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According to the Global Entrepreneurship Monitor 2014 Report, entrepreneurship rates in the U.S rose to approximately 14 percent last year - a far cry from the recession low of 7.6 percent in 2010.

The Bureau of Labour Statistics states that Americans change their approximately job every 5 years, many taking the leap and investing in a business.

The best sectors to invest in are likely to be influenced by the economic climate, and with the recent recovery and developments in technology; some sectors are looking like promising investments.

The Bureau of Labor Statistics looked at the fastest growing industries, assessing the post-recession results from 2010 and making predictions for 2020.

With the home health care industry leading the way, technology a burgeoning sector, and construction making a comeback – here’s a look at some of the best sectors to invest in today:

1. Healthcare and home service

2010: 1,080,600 jobs

2020: 1,952,400 jobs

Annual growth: 6.1%

Catering to the aging population, in-home care and medical services are now an integral part of the US healthcare industry; and with the rising cost of hospital care and nursing homes the sector is expected to grow.

According to global healthcare marketplace The Medica, ‘at present home health agencies, hospices, and home care aid organizations make up most of the industry.’

Providing services within the home (both medical and non-medical) through personal care and companionship, they state that there are now approximately ‘20,000 organizations across the nation [that] deliver healthcare to 8 million individuals’.

A recent industry report from FranchiseHelp.com predicts that ‘between 2010 and 2050, the senior population will swell dramatically’ and as the Baby Boomer population approaches the age of 65 ‘the senior population is projected to reach 88.5 million’ (20% of the total population of the United States).

As life-expectancy continues to increase, the ever-growing elderly population will necessitate healthcare and the industry (and all related business) will continue to grow alongside it.

2. Consulting services

2010: 991,400 jobs

2020: 1,567,000 jobs

Annual growth: 4.7%

Providing professional advice in a selection of fields, and the demand for consulting services is driven by the needs of other businesses, non-profit institutions, and agencies for a source of outside advice.

According to Plunkett Research the global consulting services industry generates approximately ‘$430 billion in revenue annually’; and the US is one of the largest markets in the world with ‘about 130,000 firms with combined annual revenue of about $180 billion’.

The key growth drivers in the sector are inclusive of ‘corporate profit levels, major changes to regulatory requirements, and the emergence of new technologies’.

So whatever you choose to specialize in (security, science, technology, human resources, marketing etc.); the changing landscape means that many businesses will be seeking advice– and be willing to pay for it.

3. Computer systems design and related services

2010: 1,441,500 jobs

2020: 2,112,800 jobs

Annual growth: 3.9%

From analysing data to diagnosing diseases, computer systems have become an integral part of our modern, everyday lives.

The Bureau of Labor Statistics states that ‘the industry lost only 1 percent of its workforce in 2009’ – making it a relatively recession proof sector that’s expected to see rapid growth.

The industry is forever expanding with advancements in technology, through integrating, networking and allowing us to communicate with people across the globe.

As businesses and individual consumers continue to increase their use of information technology services; the sector will continue to reap the benefits of the digital revolution.

4. Software publishing

2010: 259,800 jobs

2020: 351,600 jobs

Annual growth: 3.1%

The demand for software publishing has also increased as a result of the reliance on IT services and the burgeoning internet culture

Due to an increased demand, investment in software has risen with the popularity of games and apps. A recent IBIS report states that the industrygrew dynamically over the five years to 2015, as businesses and consumers increased their investments in software, computers, mobile devices and video games’.

To keep these systems running, a workforce is required to design new software in the first place, maintain the software and keep the systems up and running.

The rise of the mobile economy and gaming culture has made software publishing a more prevalent and highly valued industry - and one that’s set to keep evolving alongside developments in the tech world.

5. Construction

2010: 5,525,600 jobs

2020: 7,365,100 jobs

Annual growth: 2.9%

Mainly involved in the construction and engineering of buildings and highways, construction was one of the industries that suffered most during the recession.

However the current economic climate carries positives for the industry. In a recent report from Dodge Data and Analytics it looks like an encouraging year for the construction sector.

It seems that finance for construction projects is becoming easier to come by due to an easing of bank lending standards and more investment interest in real estate, as well as an increased number of bond measures being passed.

The report predicts that ‘… total U.S. construction starts for 2015 will rise 9% to $612 billion, a larger gain than the 5% increase to $564 billion estimated for 2014’.

Based on their findings we can expect to see ‘more balanced growth for 2015’ – suggesting that the construction sector is making a comeback.

By Melanie Luff, staff writer for BusinessesForSale.com, the market-leading directory of business opportunities from Dynamis. Melanie writes for all titles in the Dynamis Stable including PropertySales.com and FranchiseSales.com.

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