10 Best Industries for Starting a Business in 2020
When starting a business, one needs to understand that not all plans might bring profit. Even if the idea is good, implementation can fail. That is why it is very important to conduct a preliminary study of the market and industry for future investments. The upcoming year promises to be even more innovative than 2019. Here are some business industries that promise to be in great demand.
IT and Cybersecurity
These are the most stable and developing sectors, which will be actively gaining momentum in 2020. This is due to many factors – from a serious share of government procurement to the growing needs of a wide variety of businesses. Today, enterprises are aimed at the universal automation of processes. The need for cybersecurity will also develop because the growth of fraudulent activities is inevitable. Thus, if you have the necessary competencies, it is worth paying close attention to both of these sectors.
Gambling and Scratch Cards online
Another popular industry to invest in is scratch cards online. The share of lotteries and gambling grows as rapidly as 4x times a year. Many gambling establishments go online, and players will use their devices to play more often each year. It is a very prospective niche for investments in 2020.
Online Education and EdTech
There already exist some projects for preschool and school online education. There are also various language courses and training programs for Internet professions, such as programming, digital marketing, design, and so on. This is the best business to start 2020, even though the industry is not yet fully saturated.
Agricultural Sector and Alternative Food
The population of the Earth continues to grow steadily; therefore, any activity related to the development of the agricultural sector has a chance to skyrocket. At the same time, the classic agricultural sector will change, along with the direction of creating alternative food. Vegetarian flows are getting more popular each year, and soybean produced nutrition will be in even bigger demand.
Shared economy, or joint consumption, is a model based on the idea that the temporary use of products is more profitable than owning them. The giants in this niche are Uber and Airbnb. Moreover, various services can be shared for profit, as well as things like cars and apartments. The creation of platforms for various kinds of joint consumption is one of the most fashionable and sought-after Sharing Economics in the world.
This is a team or individual competition based on video games. These competitions are held both offline and online with broadcasting on the Internet. Such tournaments attract huge audiences, and prize pools for these games are estimated to be millions of US dollars. This industry might be the most successful business for investors in terms of sponsorships outcomes.
Organization of Leisure for Retirees
Each year, a large proportion of pensioners feel the need for quality leisure services and daily necessities. This may be:
- The development of special fitness programs;
- Organization of tourist itineraries;
- The creation of ordinary groups by interests and much more.
It is worth paying attention to this segment, as there are still very few companies dealing with this niche.
There are a lot of niches in this direction, the development of which will gain momentum in the coming decades – from 3D modeling to the creation of industrial robots and drones. Many countries around the globe need serious modernization, so there might also be a large share of government orders. This industry might be the best business to start 2020.
This is one of the fastest-growing industries in the world. In the near future, the growth of enterprises working in the field of biotechnology and genetic engineering will continue to rise. The need for 2020 Global Health Care in digital therapy (mobile medicine) arises from a lack of time and an increase in the number of non- communicable diseases of chronic diseases, especially among young people. However, only specialists with certain skills and competencies should enter this area. The rest can try in the field of creating medical gadgets – this is also one of the best startup businesses.
Nowadays, all businesses are going to live with blockchain technologies. Penetrating this industry with a startup could be a very profitable idea. Establishing blockchain technologies and maintenance for companies has a great opportunity to become the best new business.
The upcoming year promises to be very profitable for beginner investors and executives. You can pay attention to the ideas above, and conduct additional research to identify more benefits of these industries. Besides, think about acting as an investor for already existing businesses. It might also bring substantial profits.