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HomeSmall Business BlogEntrepreneurshipBusiness OwnershipThe 10 Fastest (and slowest) Growing Industries for Small Business
Entrepreneur magazine had some numbers ran for them over the last calendar year, and the results are in.
Here’s a look at the industries where U.S. companies with $10 million or less in annual sales have shown the highest and lowest percentage change from Jan. 1 to Dec 31, 2012. As a benchmark, the average growth rate across all U.S. small businesses in the time period was 8 percent, says Libby Bierman, an analyst at Sageworks.
“The good news for entrepreneurs is that much of the fastest growth is in service businesses, which can be started without a lot of money to buy equipment and inventory”
Fastest-Growth Industries for U.S. Small Businesses in 2012
Residential building construction: 14.77 percent
Building custom software and servers for businesses: 14.29 percent
Machinery, equipment, and supplies merchant wholesalers: 13.75 percent
Management, scientific, and technical consulting services: 12.31 percent
Architectural, engineering, and related services: 11.40 percent
Foundation, structure, and building exterior contractors: 11.37 percent
Building finishing contractors who make additions, alterations, maintenance and repairs: 11.32 percent
General freight trucking: 10.41 percent
Services to buildings and dwellings, including pest exterminators, janitorial services, and landscaping: 10.11 percent
Other specialty trade contractors, including site preparation activities and other specialized trades: 10.04 percent
Slowest-Growth Industries for U.S. Small Businesses in 2012
Skilled nursing care facilities: -3.29 percent
Printing and related support activities: 1.86 percent
Automotive repair and maintenance: 2.81 percent
Offices of physicians: 3.00 percent
Highway, street, and bridge construction: 4.24 percent
Insurance agencies, brokerages, and other insurance-related activities: 4.32 percent
Lessors of real estate: 5.07 percent
Other miscellaneous manufacturing including jewelry and silverware, sporting and athletic goods, dolls, toys, and games, office supplies other than paper, and signs: 5.55 percent
Offices of health practitioners other than physicians and dentists, including chiropractors, optometrists, mental health practitioners, speech and occupational therapists: 5.98 percent
Other amusement and recreation services including bowling centers, golf courses, and recreational centers: 6.03 percent
Read the full article at Entrepreneur
Image courtesy David Jackmanson
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