Inc. magazine just released the 2018 edition of ‘Best Industries to start a Business Right now‘. The list details “promising sectors” entrepreneurs should consider stepping into.
While the list focusses exclusively on US trends, there are some overlaps with what we are seeing in South Africa; particularly with sectors like Elderly care and Disaster relief. Cape Town’s current drought, for example, has lead to a surge in water startups eager to come up with innovative solutions to #DefeatDayZero.
Which of these other ideas do you think could work for the South African market?
1. Canned wine
Why it made the list:Â “Total U.S. sales for canned wine jumped to $32.3 million last year-a $29 million increase from 2014, according to Nielsen.”
“While the product inside hasn’t changed, the new packaging is attracting young consumers to the wine scene.”
2. Disaster relief
Why it made the list: “A spate of natural disasters and manmade emergencies has increased the demand for services and boosted startup funding.
3. Beauty tech
Why it made the list:Â “The integration of technology and the beauty business is creating an opportunity for startups to innovate both the products consumers buy and how they buy them.”
4. eSports
Why it made the list:Â “The industry is expected to reach $1.7 billion in 2020, up from $1.1 billion in 2018, according to SuperData Research.”
5. Influencer agents
Why it made the list:Â “The popularity of social-media platforms continues to be a powerful source of revenue for influencers -and for agents in search of a cut.”
6. Women’s reproductive health care
Why it made the list:Â “Startups are helping women take control of their reproductive health with fertility-tracking apps and other services.”
7. Elderly care
Why it made the list:Â “Businesses are finding innovative ways to care for the large population of aging Baby Boomers.”
8. Alternative-protein food products
Why it made the list:Â “The technology is now available to meet consumer demand for great-tasting foods that use proteins from nontraditonal sources.”
The full list is available here.
