Will your startup flourish or perish? Staff.com breaks down the odds of success and failure by industry
It may seem counter-intuitive, but the number of startups skyrocketed when the economy took a turn of the worse. Now that the number of startups and small businesses is starting to dwindle, you may be hesitant to start your own business, and understandably so – less than half of all startups ever make it past 5 years. However, if you’re tenacious, creative, and have (or can learn) sensible business acumen, you can start a business in an industry projected to explode in the coming years. Staff.com did the leg-work and found the best (and worst) industries for new businesses to enter.
Did you know?
- The mobile gaming industry is projected to grow 173% in 5 years. That’s a lot of angry birds.
- IT Consulting is predicted to be the most profitable up-and-coming industry by 2017, estimated to pull in a whopping $379 billion
- Small businesses and startups are vital to a healthy economy – they accounted for two-thirds of all net jobs added between 1992 and 2007, according to the BLS
Source: Staff.com