Hot Business Ideas and Trends for 2008

2008 Business TrendsEven with all the talk of an economic recession, opportunities for entrepreneurs and small business owners abound. Upscale consumerism, green consciousness, products and services for the elderly, a dizzying array of cutting-edge computers and mobile devices, all of these areas promise rapid growth. Plus, many of these industries target broad markets leaving the door wide open for entrepreneurs to find their niche.Let’s take a closer look at each one of these areas:

The Refined Consumer

Today’s consumers are very selective. This is especially true in the food industry where the demand for unique flavors, refined tastes, and specialty items is on the up. Promising areas of growth include: specialized alcoholic and non alcoholic beverages (high-end wines, micro-brews, unique flavors), and upscale food and desserts. Due to a rise in food allergies, many people are seeking products that are gluten-free, low-glycemic, and free of allergens.

Special attention is also being given to the way food is presented and packaged. You can expect to see packaging that is either environmentally friendly or super convenient.

And for those of us who are constantly online, you may be just a few clicks away from having your lunch delivered directly to your door.

It’s Easy Being Green

What was once the exclusive domain of naturalists and nature enthusiasts is now becoming mainstream. A growing awareness of the environment has created a vast, popular market that is opting to “go green.”

Look for continued growth in solar powered products and services and organic fuel production and usage, as well as an increased demand for organic food and “green clothing.”

Businesses are also looking to make their operations more environmentally friendly, which means there will soon be an army of green business consultants and other companies providing support for the transition.

Coming of Age

With so many advances in the health industry, more people are living longer, and as the baby boomers near their twilight years, the elderly population is expected to reach overwhelming proportions. Experts are predicting a imminent shortfall of qualified support, staff, and equipment that cater to the elderly.

Entrepreneurs seeking to tap into this market will find ample opportunities in senior services, staffing, medical devices and equipment, medications, and anti aging products.

Tech Integration

In the past two decades, the rapid growth in computing technology, mobile devices, and electronics has outpaced any other industry. This coming year may have a little less growth, but more integration of technology with the way we live and do business.

According to a recent article in the McKinsey Quarterly entitled “Eight Business Technology Trends to Watch“, current and emerging technology provides invaluable tools that, if used properly, will help managers effectively run and grow their businesses.

As small and mid sized businesses try to integrate technology into their business practices, look for an increased demand for IT consultation and support.

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