2010 Business Trends
This article is all about the 2010 Business Trends in various Industries.
According to Entrepreneur.com,
01) Economic Turmoil -
It's not the $700 billion bank bailout. And no, it's not the $787 billion American Recovery and Reinvestment Act of 2009. The real economic stimulus is ... wait for it ... the recession. That's right, the Great Recession. This upside-down economy is creating entrepreneurial opportunities aplenty, so long as you can deal with a situation about as stable as a lava flow.
02) Green Power -
Thanks to government incentives and changing public sentiment, clean energy is the most popular kid on the green movement block. The stimulus plan poured billions into renewable energy, automakers are all but predicting electric gridlock within the next few years, and everyone who's anyone in the electric power industry is investing in the "smart grid."
03) The Senior Care -
Bladders have never been bigger or badder. Same with vision care, cosmeceuticals and pretty much every other business associated with aging. You name it--catered tea parties, tech assistance, medical waste disposal, senior dating sites--you can profit from it. So forget how unsexy it sounds, because businesses aimed at retiring boomers are, well, booming.
04) Discount Retail -
Everyone's eating lower on the food chain these days. Consumer spending is down more than 30 percent from this time last year, to an average of $57 a day, according to a Gallup poll. And even those who can still afford to spend are beset by "luxury shame," which means high-end retailers are out, and discount shopping is in. Wal-Mart's earnings increased more than 5 percent this year, while Neiman Marcus reported a 14.8 percent drop in sales. And the dollar store? Long the domain of low-income shoppers and random cheapskates, dollar stores are doing brisk business with the middle class. Family Dollar saw record net income in 2009. It jumped 25 percent, to $291.3 million.
05) Local Business -
Demand is exploding for locally grown and made products--which means more support for mom-and-pop stores. The dividend: For every $100 spent at a locally owned business, $68 comes back to the community. Only $43 recirculates from national chain stores.
06) Education -
Huge numbers of people are going back to school--ducking the bad economy, retraining for new jobs, even reinventing themselves completely. Total enrollment at universities and colleges is close to 12 million and climbing, says IbisWorld senior analyst Toon van Beeck, most likely because of unemployment. Or, as van Beeck puts it: "They're up-skilling." Certainly, 2010 will be a good year for higher learning institutions: Revenue is expected to grow 4.9 percent, to $421 billion. Enrollment at less expensive junior colleges, trade schools and online universities is also on the rise, particularly since student loan financing is still in short supply.
07) Health and Wellness -
Healthcare reform, aging baby boomers, more emphasis on preventive care--all of these things and more are fueling growth in health and wellness businesses. Healthcare and social assistance topped the industry growth charts this year, according to the U.S. Census Bureau, with second quarter revenue of $452.5 billion, up 3 percent from the previous quarter.