United States has consistently led the developed countries around the world in the rate of entrepreneurship, and 25 million people are in the process of starting or running new businesses in 2013, according to the latest global survey monitors Entrepreneurship. Every day, there are hundreds of people who want to hang out their own shingle, and there are even more who want to.
If you are one of the many itching to dip your feet into entrepreneurship, the biggest question is the possibility of: Where do I start?
Sageworks, a financial information company, has identified several industries that employers may want to consider when thinking about potential business ideas. Looking at the financial statements of private companies ended in the last 12 months, sageworks isolate the service industry the fastest growing in the United States. Each industry has experienced a steady net profit margin in the last few years and all but one showed profitability in the last 12 months which is above the average for all private companies, based on financial statement analysis sageworks'.
For a variety of reasons, each of these service industries may be worth exploring as a starting point for business ideas, said analyst Kevin sageworks Abbas. Much work in this industry requires special skills, educational degrees or licenses before you can open a store, make some industries better choice for some people, he said. On the other hand, the availability of information on the Internet and through various educational outlets means there is more access to knowledge and training to help you learn enough to look for opportunities.
"Another interesting way to use the data to explore new business ideas is to identify some points of pain or unmet need for this growing industry and determine where you can give support to them in some capacity, even if you are not directly in the industry, "he said. For example, if you want to start marketing business, you can customize your offerings to attract one of the growing industry.