It might be easier than ever to launch a new business, but it’s harder than ever to make it work in the longterm. Unexpected global events, recessions, and shifting consumer trends can all affect the longevity of a business, which is why it’s so important to focus on those entrepreneurial ventures that have proven themselves to be future-proof. It can be hard to predict the future, but the following business ideas are widely expected to see rising demand even as technology evolves and the world becomes increasingly connected. If you’re looking for your next big business venture, here are the business ideas that look most likely to be future-proof.
The Healthcare Sector
It can be a challenging industry to break into, but healthcare is more in demand than ever, and there are plenty of opportunities for the smart entrepreneur. For example, the start-up capital required for a business in nutrition can be a lot lower than you might expect, while therapists and those focused on mental health have plenty of options to consider.
However, one key area of healthcare is perfectly suited to a future-proof business model, and that’s senior care.
With an aging population, looking after the health needs of the elderly is a business model that is more accessible than you might expect. Opening a residential care facility for the elderly can be as simple as following the steps in this guide to open an RCFE in CA. As the elderly population continues to grow, healthcare businesses that focus on providing that population with what they need will be well-positioned long into the future.
The world is currently swamped in a mire of recession and fear, and this usually results in a baby boom. During recessions in particular, the birthrate commonly goes up, and it is predicted that we are going to be seeing some tough years ahead for many. A childcare business, which allows parents to work knowing that their children are safe, is one of the more obvious future-proof businesses to launch, but it can take time to build up a reliable stream of clients.
Once established, a childcare facility can become self-sustaining, and depending on your growth plans, the profit potential is only limited by your initial finances.
If you’re planning to launch a childcare business, you should consider either partnering with someone who has the relevant qualifications, or look to get yourself qualified. Financially satisfying and with very little risk of being affected by the future, childcare is a business option that’s well worth taking a closer look at.
We’ve seen the immediate effects of big data, but this is an industry that’s still in its infancy. It’s very clear to small and large businesses alike that gathering, storing, and analyzing the endless streams of data that they have access to is beneficial for profits. This means that there is plenty of opportunity for the more tech-savvy entrepreneur to get involved.
Data has been repeatedly called the “new oil,” and that’s because there appears to be no limit to the ways that it can be used to benefit a business.
This means that data science firms are in high demand, which is great news for entrepreneurs. It will take some work to gather the right team, but a data science start-up could be the key to unlimited future profit potential. For maximum growth, look at data in terms of marketing.
Anyone can do 3D printing, and you don’t need vast amounts of investment funding to get started. There are already thousands of sellers on sites such as Etsy who have started a business with nothing more than the most basic 3D printing equipment. The key here is to think about the future. While those small Etsy businesses are printing toys and ornaments, there is a lot more potential scope for you to explore.
3D printing is promising to transform a wide range of industries, and the key to establishing your brand is to focus on the sector that you feel most confident in.
Healthcare and construction are the two big ones, but manufacturers too, are increasingly on the lookout for 3D printed items and accessories. This is going to take some research, and you’ll need to have a very clear strategy for growth. As 3D printing becomes increasingly normalized, demand is only set to grow. Get started with your 3D printing business now and you will be well-placed to find those niche demands that will see your customer lists growing year on year.
The idea of vertical farming is promising, but it is currently hindered. The problem is that while vertical farms produce significantly more food per space than traditional farms, they also require much more energy. That’s a tricky balance to strike. However, as technology grows more advanced, those energy issues could quickly become yesterday’s problem.
It seems clear that vertical farms are the future of food production, which means that smart entrepreneurs should be watching the science advance and keeping their finger on the pulse of this exciting new industry.
Already, firms are establishing themselves globally, and the promise of more efficient food production is proving very enticing for investors. If you’re looking for a business idea that is only growing in demand, then vertical farms should be high on your list of options.
If a business is not yet selling online then they are probably not going to be around for long. The shift to e-commerce has been faster than predicted, and that means that there is plenty of opportunity for entrepreneurs who are looking for future-proof business ideas. There are several options to consider if you have the urge to specialize in e-commerce, but your key options should be:
- Web Design: While website-building platforms make it easy for anyone to design an e-commerce store, businesses that want a more professional digital presence are still clamoring for people who can do the hard work for them. Web design is an area that doesn’t seem to be dropping in demand either, and as more and more people set up e-commerce ventures from home, that demand doesn’t look like going anywhere anytime soon.
- SEO: Setting up an SEO firm can be extremely low cost, but you will need to know the ins and outs. All of those businesses that have been forced online are going to want to be found by their customers, and that means search engine optimization is critical. If you’ve got the basics of SEO already, then you are well-positioned to act as an SEO consultant or even a full-service digital marketing firm. This is the kind of business that you can build to be as large or as small as you like.
Money isn’t going anywhere, despite the repeated claims that cryptocurrency is going to change everything. People still get paid in real currency, and businesses need that money to be exactly right every single time.
That’s why accountancy is considered to be one of the most future-proof businesses of all.
Of course, you will need to have a professional accountancy qualification before you can get started. Fortunately, in a world where private individuals and businesses alike will always need someone to manage their finances more securely, that education investment could be the key to unlimited growth.
These are the key industries and business models that are set to remain unaffected by even the most unexpected future (unless a meteor hits!). Coming up with business ideas can be tricky if you’re hoping for a long-term career, but with the above options, you can rest a little easier. When nobody knows what’s going to happen next, these are the industries, professions, and business models that are only set to grow in demand and value.