Overall, 2006 was a good year for small business, with 671,800 new firms jumping into the small-biz scene. And recent studies show that about two-thirds of those new companies can expect to last at least two years. So how can you ensure that your company is a survivor? It helps if you already have an interest in the kind of business you want to start--pet supplies, online marketing services or a wine store, for instance--but you also need to be sure there's a demand for that service or product. Our online Hot Center will help you figure that out. We've uncovered the latest and greatest trends that are catching on across the nation, and listed them by category, including everything from Environmentally Friendly Businesses to Senior Services.
Have a passion for food? Why not look into starting an upscale hamburger restaurant? Is fitness your forte? Learn more about creating your own niche gym. Would you like to make the world more eco-conscious? Start a green products office. No matter who you are, you're bound to find a hot trend for '07 that sparks your interest.
Don't have a particular interest in mind? That's OK. Here are some new trends emerging that could be right for you:
- Bluetooth technology is popular right now, and experts say the popularity of the device will skyrocket over the next few years. From push advertising to mobile commerce, the sky's the limit with this trend.
- Party planning for teens is making a big impact on the event planning industry, as parents are going all out to make sure their teens celebrate their 16th birthdays or bar mitzvahs in style. If you already own an event planning company, teen parties are definitely a category you'll want to add to your services. If you're just starting up, you could choose to focus on a single aspect of teen parties, like security or entertainment.
- Specialty coffee was an $11 billion industry in 2005, up about $1.5 million from 2004, and the industry's continuing to grow. So why not follow this trend and start your own coffeehouse? Experts agree that people aren't just flocking to coffeehouses for the coffee, but for the social aspect and a sense of belonging.
Let's say you're big on creativity but low on cash as the New Year rolls around. What's a cash-poor entrepreneurial wannabe to do? Check out our list of low-cost startup ideas. You'll find financing tips along with startup tools to get you on your way. From freelancing your expertise to becoming a creativity consultant to starting a virtual assistant business, the possibilities are endless. We're sure you'll find something to spark your interest and get your entrepreneurial venture started in '07.