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
The Bureau of Labour Statistics states that Americans change their
approximately job every 5 years, many taking the leap and investing in a
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
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.’
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
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).
continues to increase, the ever-growing elderly population will necessitate
healthcare and the industry (and all related business) will continue to grow
2010: 991,400 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.
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’.
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
Annual growth: 3.9%
From analysing data to diagnosing
diseases, computer systems have become an integral part of our modern, everyday
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.
and individual consumers continue to increase their use of information
technology services; the sector will continue to reap the benefits of the
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 industry ‘grew dynamically over
the five years to 2015, as businesses and consumers increased their investments
in software, computers, mobile devices and video games’.
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.
2010: 5,525,600 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.