Want to know what industries are heating up? Industry analyst IBISWorld just released its picks for the 5 hottest startup industries for the next five years. The company analyzed revenues, growth trends and profitability levels of more than 700 industries to determine which ones are best poised to grow.
Even if you are already in business, knowing which industries are in growth mode can give you ideas for new products, services or partnerships that could help your business expand. Here are IBISWorld’s picks:
- Testing and Educational Support: High school graduates are going on to college, college students are clinging to their college years instead of facing the tough job market, and laid-off employees are heading back to school. All this bodes well for testing and education businesses. IBISWorld reports that the industry grew at an average annual rate of 6.2 percent to $15.4 billion over the five years up to 2011, and that level of growth is projected to continue over the next five years, with revenue increasing an average of 5.5 percent per year to reach $19.1 billion in 2016. Trade and technical schools, business coaching and employment recruiting are all related industries with similarly positive outlooks.
To read the full, original article click on this link: 5 Hot Industries Every Small Business Owner Should Know About
Author:Rieva Lesonsky
