If you want to launch a new business, you need to have a solid idea and business plan and the courage to take it forward. To start with, you need to identify an industry which has a good growth potential. If you have the motivation and you are all set to roll out your brand in 2019, you must determine which sectors have the biggest growth potential right now. Here you can find the top four industries that are now home to the fastest growing start-ups:
Micro-Mobility
Urban transportation has gone through a sea of change over the past few years, and this has created an enormous growth opportunity for start-ups that are into manufacturing e-bikes, skateboards, and e-scooters. By 2030, more than sixty percent of the global population would start to live in cities and suburbs, as per the latest report of the UN Department of Economic and Social Affairs. Accordingly, micro-mobility products can also garner popularity and bring a big change in mass transit. People find getting around on e-skateboards, scooters, and bikes fun and convenient. Recently, Ford acquired the US-based e-scooter start-up "Spin" for a massive $100 million. If you are always abreast of technological advances in sustainable transportation, and you are eager to help people reduce their carbon footprints, consider making a foray into this market segment.
Digital Therapeutics
Video games and real-time gaming software applications are not just a form of entertainment, we are finding more and more that in this age of technology these applications can help us with an abundant of tasks. For example, certain applications can be used to diagnose and treat a variety of medical conditions. This is, in fact, a whole new category of medicine which effectively reduces a patient's dependence on pharmaceuticals. Digital therapeutics can be effective in addressing medical needs that still haven’t been met. Some of the products that have already entered the market or are in the development phase are software applications that aid in improving COPD and asthma. Digital therapeutics are also being used in treating pediatric ADHD, substance abuse, and depression. If you are into software development, find someone really knowledgeable from the medical field and collaborate to develop interactive mobile apps and digital games to meet the varied needs of the healthcare sector. Did you know that the FDA approved 30 digital therapeutic mobile apps in 2018? It's definitely a flourishing market with so much potential!
CBD Products
The demand for products that contain "CBD" or "Cannabidiol" has reached its peak point. Cannabidiol is a non-psychotropic chemical component derived from hemp and cannabis. There are quite a few companies in the USA now that deal with CBD products, and if you can market your CBD products using online tools, and have a good marketing team on your side, you can promote the pain-relieving, anti-inflammatory, and anti-anxiety effects of CBD as consumers are now ready to embrace it in their day-to-day lives. It has been incorporated into lotions, soaps, oils, beauty products, and even snacks, ice cream, cocktails, and coffee! It is expected that the chemical will make its way into soups, salads, and yogurts in the next two years. If you are really knowledgeable about CBD and the plant, along with good marketing skills, you can choose to sell your own CBD products in 2019.
Personalized Nutrition Products
Americans, in general, are crazy about weight loss and nutritious diets. While you can find a wide selection of nutritious foods in the supermarket, personalized nutrition products bring a different experience to their users. One has to get the genetic blueprint of a person to figure out what exactly their body needs. Customized nutrition products are developed based on genetic data and this is why these products precisely meet the nutritional needs of individuals. The market is already huge, as 15 million people across the globe have already gone through genetic testing. If the medical industry shifts their focus from cure to prevention, nutrition is going to be one of the best means to prevent all sorts of ailments. Personalized nutrition, therefore, has great potential as a market segment, both in the United States and abroad.
If you do not have the venture capital to start a business now, you can even apply for a small business loan. There are many lending agencies that grant small business loans, but generally only if the entrepreneur has a brilliant idea. Therefore, if you are willing to go ahead with a business plan, first make sure you can present your idea to potential investors and stakeholders very well.
