Attention entrepreneurs! The fastest growing industries you can enter now

Last year, more than 5.4 million new businesses were founded, and over the past two years, the number of startups has risen to pre-Great Recession levels for the first time.

Obviously, the entrepreneurial spirit in the USA is alive and well

However, the difficulties of starting a business are well known. Almost half of all companies fail within five years of being founded. This makes it all the more important for entrepreneurs to start companies in industries that are growth.

Here are five industries that are growing rapidly, according to a recent HubSpot study.

1. E-commerce continues to grow

Although e-commerce has grown rapidly over the past two decades, there are still many opportunities to enter this industry.

For example, you might want to start a dropshipping business, sell jewelry on Etsy, or create an app for selling online. With ecommerce software like Shopify, it’s easier than ever to set up a website and online store – starting at just $20 per month.

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Global e-commerce sales are expected to grow from $5.7 trillion last year to over $8 trillion in 2027. This projected massive growth means there are plenty of opportunities for entrepreneurs.

2. Content creators make money

As a freelance writer who has been creating content for various companies for more than 12 years, I can attest that there is a market for it. This content can be articles, blog posts, marketing materials, or even videos from social media influencers.

More than 60% of marketers work with content creators, making it potentially easy to find companies that need this type of work.

Many people can start a content creation business without a large financial investment. This means you don’t need a large balance in your business bank account to get started.

3. Entrepreneurs hear wedding bells ringing

Before the pandemic, an average of 2.8 million people got engaged each year. While the number of engagements dropped significantly during the pandemic, it is close to its pre-pandemic level.

This creates tremendous opportunities for entrepreneurs to start a business that deals with organizing weddings, catering, taking wedding and engagement photos, or baking wedding cakes.

Pay depends on what wedding business you start and where you live. The national average income for a wedding DJ is $65/hour, while a wedding photographer makes an average of $48/hour.

4. Consulting is gaining momentum

If you have years of experience in a particular industry, you may be able to turn that into a consulting business. Many companies need experienced professionals to show them how to grow their business, and some pay a hefty sum for that help—consultants can earn as much as $300 an hour.

Consulting is also experiencing rapid growth, according to the Bureau of Labor Statistics, with the industry estimated to grow 13.5% between 2021 and 2031. While consultants can work in almost any industry, HubSpot notes that accounting, business, and professional services are the most in-demand fields.

5. Digital marketing is on the rise

Having worked with organizations as a digital marketer, I have seen first-hand how important it is for companies to have strategies and content for their events, branded materials, social media, and email newsletters.

If you have experience in marketing, advertising, or content creation, you can probably use it to start a digital marketing business.

While some worry about the impact of artificial intelligence on marketing, demand for this work is growing. The Bureau of Labor Statistics projects the industry to grow 10% through 2026.

Choose your own adventure

One of my friends once created an online calculator that teachers could use to grade their students’ work, and another designed and sold his own t-shirts. Although they are different companies, they have one thing in common: they were both founded with the passion of the people who founded them.

Even if you don’t find anything on this list that interests you, there’s probably a small business that fits your personality and experience.

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