The start of a new year and decade brings with it new opportunities for profit, but only if you know where to look for it. Due to fundamental shifts in market sentiment, consumer behavior, geopolitical relations, and government regulations, there will be industries and businesses that will have a higher chance of success.
Of course, every business has a higher chance of success if they properly research their industry and audience before investing big money into the idea. Will the business be able to work in a coworking space that allows for higher productivity or will they need to invest in a large commercial space? What are the initial start-up costs for the business? How many employees will be needed? Every part of the business should be researched.
They also need to ensure the technology used is adapted to their industry. Implementing the right software and technology from companies like https://m247.com/ can help facilitate that growth and profit by making sure businesses have the necessary resources to thrive. Here are five of the most successful business areas:
Successful Business use Clean Water
Despite the planet’s composition being 71 percent water, close to 800 million people still don’t have access to clean water, according to the CDC. Catastrophes, such as the Flint, Michigan water crisis, have helped shed light on the hazardous effects of water contaminants and the importance of proper water filtration. In the last five years, investment in companies that focus on improving water quality has shot up by 25 percent to roughly $51 million. Note, however, that building pipelines that bridge hardware and software components will require significant capital and time investments.
Successful Business use Mobile Management
With so many developments in technological advancement in recent years, it’s no wonder that businesses are turning to solutions that implement the use of it. With more remote working than ever before, many companies have found great success in using mobile project management that allows any business owner to control how their business is run, from the comfort of their own home. This is huge in the way that businesses are able to offer flexible working and we expect to see more of this in the coming years.
Successful Business use Meat Substitutes
As consumers become more aware of how their dietary choices affect not only the climate but also the lives of billions of animals used in the agriculture industry, meat substitutes are growing into a larger market that entrepreneurs cannot ignore anymore. Last year, Beyond Meat launched a successful initial public offering, with the stock price shooting up by 250 percent. Several fast-food chains, including Burger King and Carl’s Jr, have also included meat alternative options on their menu.
Successful Business use 3D Printing Technology
3D printers were once limited in what they can print and how fast they can dish out finished models. Fast forward to today, 3D printing technology is capable of life-sized printing structures and even whole buildings. The technology is gaining more attention as its applications expand to the medical and manufacturing industries.
Successful Business use Solar Power
Solar power continues to be one of the most sought after energy alternatives in the US. As the human population continues to grow at a rapid pace, the demand for energy alternatives will follow. Last year, the industry posted total revenue of $10 billion, with the number of companies operating in the sector reaching 413.
Knowing what businesses and industries are expected to grow in 2020 already puts you at a high success rate. If you are looking to purchase an accountancy firm, for example, and refer to websites such as PoeGroupAdvisors.com and many more to get you on your feet, the time is now to get your successful firm up and running. Now all you need to do is create the perfect business plan and execute.
Author: Yuri Vanetik