U-Turn Ahead

Dawn Rivers Baker, publisher and editor of The MicroEnterprise Journal, wrote a guest article for Small Business Trends where she lists the Top Ten Opportunities in 2008 for Personal Businesses. Baker defines personal businesses as those run by an owner with no employees. In her article, Baker points out that nearly 4 in every 5 business in the U.S. is operated without employees. Let’s take a look at those business opportunities that Baker reports as having the most potential in 2008.

Virtual staffing agencies. In the last installment of this series you may recall the prediction that 1/3 of employers will be contracting or hiring freelancers in 2008. Baker expects that there is real opportunity for someone to bring together employers and contract workers.

Content aggregators. Baker predicts that we will see increased growth in businesses that compile, organize and distribute information. The Internet provides potential for information aggregators that, according to Baker, “includes content verticals (topic niches such as parenting, gardening, business and entrepreneurship) as well as format-based horizontals (newsletters, blogs, social networking sites).”

Digital content producers. The paper and ink market for information sharing is giving away ground to the growing industry of digital content. In 2008, expect to see even more digital content offered on the Internet in a variety of formats and prices.

Business and personal coaching. Baker expects continued growth in the increasingly popular arena of business and personal coaching. The lack of substantive education on real life challenges creates business opportunities for those who can support and teach others.

Business services. Business to business services will see no sign of slowing in 2008 as midsize and large companies continue to focus on their core competencies while contracting out other routine business tasks.

Environmentally-friendly construction. As other industries become more eco-friendly, we can expect construction to do the same. Contractors specializing in energy efficiency, use of unexploited natural building resources, and construction that integrates with the local environment will find plenty of work in 2008.

Oil and energy extraction consultants. With the right training and preparation, a business in this field can be quite profitable. Baker explains that, “with the focus on domestically produced, environmentally friendly energy sources, companies in the business of producing oil products and generating energy will be looking for these consultants and the guidance they offer.”

Energy-related environmental consultants. In growing numbers, homeowners and businesses are looking for ways to be more energy conscious. There is huge potential in helping others save more money and support the environment through energy conservation.

Health care service providers. Expect to see enterprising businesses established to meet the growing need for long term care, in-home health care, and hospice services. Baker also predicts more opportunities in services that assist with patients with navigating the health care system.

Personal services. As we hustle to cram more and more into our lives, some of us will begin looking for tasks we can farm out to personal assistants. Doing the jobs that others don’t have the time or desire to do themselves will be a great niche business for many entrepreneurs.

As you can see, the industries that Baker believes offer the most potential are the result of advancing technology, the environment, and the aging baby boomer population. Trends in each of these areas are creating opportunities for the self-employed entrepreneur.

[Photo Credit:lsgcp]

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