Interesting Industries for Starting a Business in 2019

zeina Otonjo

September 9, 2019

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To launch a successful business, you need a good idea and the boldness to act on it. While all first-time entrepreneurs have their work cut out for them, anyone who can identify industries uniquely positioned for growth has a clear advantage.
Some unusual sectors hold tremendous potential for entrepreneurs.

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Micro mobility

A revolution in urban transportation is creating an opportunity for startups that make electric-powered bikes, scooters, and skateboards.

With more than 60 percent of the world’s population expected to live in urban areas by 2030–up from 55 percent in 2018, according to the UN’s  Department of Economic and Social Affairs–micromobility  will gain popularity as an alternative to traditional ground transportation and mass transit.

On the other hand though, Building micro-mobility devices at scale will require a significant capital investment.

Digital Therapeutics

No longer just a form of entertainment, video games, and other software applications can now be used to treat a host of medical conditions,

For startups, this new category of medicine is an opportunity to create therapies that reduce patients’ reliance on pharmaceuticals.

Products on the market or in development include software programs to improve asthma and COPD, serve as an adjunct to outpatient treatment for substance abuse, and treat pediatric ADHD and depression.

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CBD Products

There is already a strong demand in the world especially  U.S. for products containing Cannabidiol, or CBD, a natural chemical component of cannabis and hemp that’s non-psychotropic, meaning it doesn’t get you high.
Companies offering CBD products have a tremendous opportunity, as proponents of CBD claim the substance offers anti-anxiety, anti-inflammatory, and pain-relieving effects. Consumers are already embracing CBD as a product to be incorporated into their daily lives.

 The newest niche is the food and beverage industry, where businesses have added it to snacks, coffee, ice cream, and cocktails. By 2020, CBD is expected to make its way into yogurts, soups, and even salad dressings, according to a report on 2019 food trends from snack-maker Kind.

The biggest issue will be the legality of CBD in many of the produce.

 

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Personalized Nutrition

There’s no one-size-fits-all approach to a healthy diet, which is why some people are more apt to gain weight on certain regimens than others. Getting your genetic blueprint can help you figure out exactly what your body needs to be at its best, creating an opportunity for startups that can help consumers make customized, data-driven decisions about what to eat.

SHUTTERSTOCK

Owlet’s Smart Sock monitor. COURTESY OWLET

Baby Tech

People have computers in their pockets and health trackers on their wrists that can tell them just how their body’s doing.

That demand for technological solutions is now extending to a more vulnerable population: babies.

Startups in this industry are creating innovative solutions for fertility tracking, breastfeeding, and even getting infants to sleep.

 

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Selfie Services

Attend any conference, work party, or wedding and you’ll likely see a photo stand equipped with a camera, props, and maybe even a wrangler to ensure your shot is just right.

But these new-style photo booths aren’t the type that requires participants to cram themselves into a box. They’re highly technical and simple-to-use systems that give people more control of their shots

It also, allows more people to fit into the picture, meaning they’re great for events as a keepsake or for a chance for social promotion of the event, especially with hashtags.

 

Workleisure-wear company Mizzen+Main shirts.COURTESY MIZZEN+MAIN

Workleisure Apparel

Since the athleisure trend sparked a fashion revolution, more brands are creating office-appropriate clothing such as button-down shirts and slacks that feature the same level of comfort and durability as activewear.

However, the distribution could be one of the hardest challenges for entrepreneurs getting into this industry, Smith says. As more big brands opt for direct-to-consumer models, they are cutting costs and passing those savings to the customer–meaning startups selling only work leisure (such as in specialty stores) might have a hard time attracting customers.

Courtesy: Inc.com

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