Entrepreneur Alert! The fastest growing industry you can enter right now

Last year, more than 5.4 million new startups were created, and over the past two years, the number of startups has increased sharply for the first time compared to before the Great Depression.

Clearly, the entrepreneurial spirit is alive and well in America.

However, the difficulties of starting a business are well known. Nearly half of all businesses fail within five years of starting their business. This means it is even more important for entrepreneurs to start their business in the right industry. growth.

According to a recent HubSpot study, the five fastest-growing industries are:

1. E-commerce is still expanding

E-commerce has grown rapidly over the past 20 years, but there are still many ways to enter this industry.

For example, you could start a drop-shipping business, sell jewelry on Etsy, or create an app for selling online. With ecommerce software like Shopify starting at $20 per month, setting up a website and online store has never been easier.

Global e-commerce sales are expected to grow from $5.7 trillion last year to more than $8 trillion by 2027. These massive growth projections mean there are many opportunities for entrepreneurs.

2. Content creators are making money.

As a freelance writer who has been creating content for a variety of companies for over 12 years, I can attest that there is a market for this. This content may include articles, blog posts, marketing materials, or videos from social media influencers.

Over 60% of marketers work with content creators, so it’s easy to find businesses that need this type of work.

Many people can also start a content creation business with a small financial investment. This means you don’t need a large business bank account balance to get started.

3. Entrepreneurs are hearing wedding bells

Before the pandemic, an average of 2.8 million people participated each year. Although engagement has declined significantly during the pandemic, it remains close to pre-pandemic levels.

This has created tremendous opportunities for entrepreneurs to start businesses such as hosting weddings, catering, wedding and engagement photography, baking wedding cakes, and more.

Salaries vary depending on the wedding business you start and where you live, but the national average for a wedding DJ is $65 per hour, while a wedding photographer earns an average of $48 per hour.

4. Consulting is gaining popularity

If you have several years of experience in a particular industry, you may be able to transition that industry into a consulting business. Many companies need experienced professionals to show them how to grow their business, and some companies will pay huge sums of money to help. Consultants can earn up to $300 per hour.

Consulting is also growing rapidly, with the industry estimated to grow 13.5% between 2021 and 2031, according to the Bureau of Labor Statistics. You can become a consultant in almost any industry, but HubSpot points out that the most in-demand fields are: Accounting, business and professional services.

5. Digital marketing is happening

As a digital marketer, I’ve worked with organizations and learned firsthand how they need strategy and content for events, brand collateral, social media, and email newsletters.

If you have experience in marketing, advertising, or content creation, you will likely use it to start a digital marketing company.

While some are concerned about the impact of artificial intelligence on marketing, demand for this work is growing. The Bureau of Labor Statistics says this industry will grow 10 percent through 2026.

Choose your own adventure

One friend created an online calculator to help teachers grade students’ work, while another designed and sold his own t-shirts. Although they are different businesses, they have one thing in common. Both companies started with the passion of their founders.

Even if you don’t see anything on this list that interests you, there’s a good chance there’s a small business that matches your personality and experience.

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