For a successful business, you need to have a great idea. Many people venture into entrepreneurship, as they know the industry in which they want to enter and the kind of business they want to start. But for many entrepreneurs, it is difficult to find out the right business idea and what kind of business they want to enter.
If you are determined to start your own business, you are sure about these two things i.e., you want to be your own boss, and you are here to make a profit. To start your business in 2019, you need to have the right combination of hard work, determination, and resourcefulness. Here is the list of five best industry to start your own business in 2019:
- Technology: Technology is growing in leaps and bounds and connecting people across the world. With the advent of cloud computing, artificial intelligence, machine learning, and big data, people will enter this business. They will start focusing on making their products and services customer friendly and give them the seamless experiences that will save their time.
- Health: Whether it’s biotechnology, health data management or personalized health, there are various opportunities in the health industry. Aspiring entrepreneurs will focus on personalized, and data-driven health to compete with traditional healthcare facilities like hospitals.
- Construction: Many opportunities lie within the construction industry like residential housing, big infrastructure, and construction tech. Construction technology will enable more efficient building. According to a McKinsey study, by 2025 a third of the world's urban population will struggle to get safe, secure housing, opening up an unprecedented opportunity for efficient, affordable housing options.
- Hospitality: Hospitality industry, which includes hotels, restaurants, and leisure are booming. Airbnb- a startup which has four million listings worldwide, is bigger than the five largest hotel chains combined. They are helping the hoteliers to compete in the new world.
- Financial services: Finance industry, especially fintech and cryptocurrency will be booming. With advanced mobile payment systems reaching every nook and corner of the world, the regulator and banker are adopting the technological way to reach the under-banked. Aspiring entrepreneurs will enter into this industry and partner with or compete with financial institutions like banks.