One of the main barriers to starting a company can often be the indecision surrounding what business to take the plunge with. Luckily here in Australia we have seen recently one or two things happening culturally and socially that could help to point us in the right direction if we are willing to look at things from a fresh new angle.
Things like the continuing boom in online businesses should be making the entrepreneurial among us think. You don’t even have to re-invent the wheel. Just a simple retail store that is well presented and marketed online can take off and start bringing you in money that you can only dream of in your current job. Let’s take a look at some of the hot sectors that should be grabbing our attention:
- Online – Regardless of whether your business idea is a retail outlet like the one mentioned above or a service industry, online business simply cannot be ignored. The Australian Bureau of Statistics released in October that like-on-like download figures for the 3 month period to June 30th had increased by just below 60% on the previous year. A staggering figure, and with smartphones becoming ever more popular the amount is set to increase. The popularity of the internet is here to stay, if you can carve out a niche in this sector you could be onto a very good thing indeed. I mean to say, look at the ever expanding Australian virtual assistant industry. There are so many opportunities to be had.
- Distribution – Going hand-in-hand with the increase in online retail is the growth in distribution needs. Many new business opportunities are expected to arise in this sector as more and more companies are starting to distribute their goods over ever widening areas. Fuel card usage is also expected to see an increase as a result.
- Fitness – While this may seem like a no-brainer to some, the fitness industry still has gaps in the market that are waiting to be filled. Healthy living is on the increase globally and Australia is no different. Unfortunately as we are forced to work longer and longer hours our diet often suffers which can result in weight gain. Gym memberships are expected to keep on rising over the coming years so finding a way to capitalise on those extra numbers is a sure-fire way to a successful business.
- Care – Australia, like so many other western economies, has an ageing population that is going to need looking after as they move into their later years. However, it is also worth remembering that despite the population becoming older, many of those in retirement age are now much fitter than they would have been in previous generations. This opens up a wide scope of business opportunities to cater for their changing needs.
This is by no means a comprehensive list, but it does give you an idea of some of the new opportunities that are out there waiting to be taken in old and existing sectors. With a little thought there are ways to see fresh ideas all around, sometimes all it takes is to open our eyes.