Fastest Growing and Best Industries for Starting a Business

Here are some industries where your business can find success.

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Here is where to get the best business startup ideas in booming industries with the greatest opportunities for entrepreneurs. All of them have strong growth projections with positive future trends.  The average US small business grows annually at 8%, firms in these industries have grown at a much faster pace than their competition.

When you are considering launching your own firm it is wise to start your business in an industry with rapid growth.  As these industry trends and new technology fuel the economy you can ride the wave to success. Also, read about Management Trends here. Check out these best fast-growth industries as places to launch your next startup.

Read on and become inspired by your next business startup with this business industries list.

As part of creating a new business, your online presence today makes all the difference. As you will see below, a number of these business ideas revolve around their online presence, so have a professional and corporate look and feel to your website is essential. Once you’ve figured out the idea for your new startup, have a look at the following list of 40+ themes for businesses and startups rounded up by CollectiveRay.

Fastest Growing Industries to Start a Business

The most successful small businesses were in these fast-growth industries:

  1. Travel & Hospitality – 201% aggregate growth rate
  2. Media – 198%
  3. Energy – 174%
  4. Security – 171%
  5. Real Estate – 168%

Highlights: INC 5000 Fastest Growing Companies

Industries

Inc.com divided the winners into 25 different high-growth.  The top 5  fastest growing industries are listed below with information on the best in industry:

Travel & Hospitality +201% – The fastest growing company in the travel industry at #63 The Air Travel Group, Orlando, Florida,  which negotiates airline fares for event travel for groups, corporate and sports franchise.

Eric Peterson, Founder, and President saw opportunity in 2002 when airlines changed their commission policies which caused major travel companies to close their airline programs.

>>Lesson: When Others are getting out – Get in in a different, better way

Media +198% – The Media industries top-performer at #25 is The Penny Hoarder, St Petersburg, Florida a website focused on personal finance to help people save money in unusual ways.

Kyle Taylor, President says the best thing about being a founder is the daily fulfillment that he enjoys would never have been possible in a 9 to 5 job.

>>Lesson: Help Others and Your Business will be both Personally Fulfilling and a Success

Energy +174% – The Energy sector top performer is #2, EnviroSolar Power, Fort Worth, TX is an installer and manager of solar energy for commercial and residential buildings.

Their most successful sales technique is to provide a free home energy audit and assessment to determine if solar energy is right for the homeowner.

>>Lesson: Start Selling by Giving to Build Relationships First and Sales Later

Security +171% – #169 on the list is Security Industry top company DirectDefense, Englewood, CO, builds custom security protection systems for computer networks and platforms.

Real Estate +168% – # 31 ranking is tops in Real Estate, Big Block Realty, San Diego, CA, a residential broker that excels with best in class training, compensation, and broker support.  Also, Canada’s condo market is rapidly growing, especially in Etobicoke Ontario. 

States

These US States hosted the highest quantity of top fastest growing firms in order of total companies named on the list, with highlights on hottest business cities too.

California

670 of the companies headquartered in California including top winners:

#1 Skillz, San Francisco,  a mobile platform developer for video game tournaments.

#3 Gametime,  San Francisco, another mobile application, this for selling tickets last minute for sporting events.

#4 Club Pilates Franchise, Costa Mesa, CA, Pilates studio franchise worldwide.

#5 Halo Top Creamery, Los Angeles, CA, maker of natural low-calorie ice cream.

Texas

435 of the companies are located in Texas including these notables:

#30 Spar Information Systems, Plano, TX, services in big data, business intelligence, data warehouse and software development.

#52 – Discount Power Texas, Houston, TX, electric power services for residential and commercial users.

Florida

368 of the company’s offices are located in Florida including these:

#13 – Adva-Net, Lakewood Ranch, FL, post-acute care management and addiction recovery services with workers compensation claims.

#16 Solera Specialty Pharmacy, Pompano Beach, FL, Dispenser of prescriptions for chronic illness such as multiple sclerosis, HIV, cancer and rheumatoid arthritis.

New York

307 of the company’s offices are located in New York state including these:

#7 AutomotiveMastermind, New York City, Develops predictive analytics and marketing automation technology for the automotive industry.

#14 DashBid, New York City, Works with publishers and media buying agencies to help them manage and sell online advertising inventory.

Virginia

#20 DGC International,  Vienna, VA, Offers intelligence, logistics and transportation, training, and global operations support to the military and federal agencies.

#29 TechAnax, Woodbridge, VA,  Provides program management, network design and engineering, information assurance, IT, data center hosting, unified communications, and other services to government agencies.

Corporate Wellness

In 2017, 45% of corporate employers offered some form of health and wellness program to their employees in 2013, up 15% from 2005. Experts estimate that the corporate wellness industry will grow annually at 10% or more. Companies are investing in healthcare in their offices to boost employee productivity, reduce health premiums and retain their top talent. There are a wide range entrepreneurial opportunities in meditation training, yoga, nutritional counseling and health education.

Green Builders

Now that the building industry is showing strong signs of growth the greatest demand is for green building. Last year, more than half of all commercial buildings are sustainable environmentally and energy efficient. Also, residential construction is becoming greener than ever, thanks to government support with grants and tax credits for building green. The demand is estimated to continue growing strongly at a rate of 23% annually.

Language Translation

Today’s global internet economy needs services to translate the thousands of languages spoken worldwide for websites, product packaging, and social media. While technology has improved computer translation, it is still crude and insufficient for most businesses needs. The medical equipment industry is a particularly lucrative prospect for these types of services. The translation industry is projected to grow at 42% in 2020 from its size in 2010, as reported by the Bureau of Labor Statistics.

Educational Software

The education crisis in America is opening up the education software industry for innovative startups with new ideas. Of particular note is the early education, pre-kindergarten, market that was virtually nonexistent in 2010 then grew to over $14 million in 2012.

The electronic education industry, globally, is projected to increase over 20% annually to 2017. Emerging trends include live personalization of lessons, learning as a game and better student tracking progress.

Baby Business

The birth rate in America is on the rise with millennial’s kids, who need specialized goods and services. Here are some successful startup ideas in this market; gluten-free baby food, gender-neutral toys, and chemical free diapers. The global baby market is predicted to grow to $67 billion by next year.

Electronic Forensics

This industry is born out of the massive increase in digital information that is getting lost and stolen online. This new industry helps find lost data on devices, such as mobile phones and laptops, and company networks. Tracking down hackers and other types of online criminals is also a part of this industry. Digital security will grow 14%, or more, annually.

Food  Business

America has become a nation of foodies forever looking for the next greatest taste trend – the more interesting and offbeat the better. With the rise of independent and alternative food shops such as gourmet markets, farmers markets, online subscription services and pop-up shops your opportunities are endless.

Another growing portion of the food industry is improving food manufacturing for better food safety. All levels of the food industry, from local restaurants to food trucks, need help with food inventory management and better food handling processes.

Technology Fashion

We are no longer satisfied just holding technology in our hand, we now want to wear it on our bodies, so we can read the news and connect on social media. Wearable technology is trending very strongly. Hot items include sports devices that track your steps and calculate how many calories you burned contribute to this fashion computer market that is estimated to reach up to $35 billion in 2020.

Artificial Intelligence (AI)

AI has moved out of the science-fiction movie and into our everyday life. From voice recognition programs on our cell phones to virtual assistance on our computers by  Siri and Cortana the trend has arrived. It’s a booming market that will reach $70 billion in 2020. Here are some interesting business applications of artificial intelligence in the stock market, real estate, and human resources.

E-Commerce

One of the strongest trends, with the most sustainable growth, is the e-commerce, online shopping industry with annual revenues of over $300 billion. Websites such as Amazon and Etsy have leveled the playing field for small entrepreneurs to be able to set up shop and sell their products globally competing equally with multinational corporations.

Health Care

An evergreen yet the volatile industry, at $1.7 trillion volume, healthcare remains a gold mine for start-ups. Small innovative firms can help with technology for booking appointments, medication dispensing and prescription delivery via mobile phones.

Studying fastest growing industries is a good tactic for entrepreneurs to focus their efforts where the profits are more abundant. Smart entrepreneurs know that the same amount of effort put into a hot industry will yield substantially more profit than a staid or dying market.

These are the fastest growing markets for your best chance to start a business successfully.

Now that you know the fastest growing industries to launch your business, read this guide on how to start a business by the experts at Wave.

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