Do you want to have a career in some of the fastest growing industries in America? Sure you do, who doesn’t want to have a prosperous job? That’s why we have created this list of 10 industries that rapidly grow in America. Developing a new business, starting up with a new project can be very risky, but when you are familiar with promising industries that can make your quest a little easier. Since growth prognosis shouldn’t be the only thing, you should take into account when choosing an industry for your business, you can also check our list of the 7 Best Industries for Starting a Business.
With the recession upon us, entrepreneurs have to think a lot before starting new businesses. People change their perspectives according to their situations and they always want to invest in the fast growing industries to get maximum return. A growing industry catches the attention of successful entrepreneurs, and most of the people jumps into it without doing research. In the past few months, we have seen industries with dramatically higher growth and that is how it works, change comes with the passage of time and people always come up with new and creative ideas. Unexpected changes can happen anytime, that’s how some large industries went into the dirt, and small industries have shown us a great amount of growth. Few industries like healthcare, laboratory and ambulatory care services are going to be here as they are the essential requirements of all humans but the industries that really impressed the world are software publishers, scientific and technical services, construction and real estate.
So, you shouldn’t take our list as an ultimate guide for choosing a new industry to start your business. Before investing your money, you have to consider thoroughly many questions, such as: Do you have the ability to start that kind of job? Can you afford an adequate location? How much time are you willing to spend before return your invested money and make a true profit? Do you have the required skills? And these are only a few of many questions you need to consider.
Go ahead take a look at the Top 10 Fastest Growing Industries in America and think wisely before choosing any one of them for your new business.
10. Facilities Support Services
This industry has an annual growth of 2.9% and approximately it will create 177,600 job opportunities in 2020. With all the bad economy and people striving hard for jobs, you can start a service where you can provide different people for the jobs like security guards, receptionists, and janitors.
9. Professional and Technical Services
This industry is growing faster, and it has 3.0% annual growing rate even in this economy. It will create 760,200 jobs in the year 2020, as it provides support for the workers like office clerks or health technicians that have high demands in our society.
8. Computer System Designs and Related Services
Naturally since this is a world of computers, there is a lot of growth in this industry of computer system designs and related services. In these modern and fast world, where competitiveness is very high in almost every field everyone is striving hard to get a better product. That’s why this industry is experiencing 15% rise in employment.
7. Residential Building Construction
Whether it is commercial or residential work, the construction industry is making a wonderful growth in the present era. Residential building construction is showing 8.8% annual growth, and there will be 48% rise in the employment rate by the end of 2020.
6. Architectural and engineering related Services
This industry belongs to the professionals in the field of building, landscape and surveyor architects and the engineers with specialization in aerospace agriculture, chemical, electrical and civil engineering. This industry is growing at a rapid pace and creating lots of opportunities for young architects and engineers.
5. Offices of Physical and Speech Therapists
It is another fast growing industry in America which require specialists in physical, occupational and speech therapists. It has a 53% increase rate of employment and by the year 2020 it will have 467,400 employment opportunities.
4. Health Practitioners
The health industry will never stop growing because of the increase in population, and our everyday unhealthy habits. We will always need doctors and general health practitioners. This is much more stable industry than others and it is growing at a fast rate. By the end of 2020, it will create more than 5,000,000 jobs.
3. Real Estate and Brokers
From the last year, real estate and broker offices experience more than 30% increase in profits. This industry has shown us a strong earnings growth, and it will keep the high rate of growth in the coming 10 years. So, if you are good at it then grab this opportunity.
2. Wood Product Manufacturing
With the growth in real estate and residential building construction, wood product manufacturing industry grows side by side. We all need flooring, doors, cabinets and another kind of wood work in our homes. So, this industry has a bright future in the coming years.
1. Home Health Care Services
This is the fastest growing industry in America because people require home nurses, speech, and physical therapists for themselves more than ever before. Because of unhealthy lifestyle health care services is a stable industry, and it has more than 55% increased the employment rate.
