1. Service-providing industries
The long-term shift from goods-producing businesses to service-providing businesses is expected to continue in the United States as businesses outsource manufacturing jobs out to the rest of the world where labor is less expensive.
2. Education and health services
This industry is projected to grow faster than most other industries.
The growth in this sector will continue to grow, driven by increasing demand for healthcare and social assistance because of an aging population and longer life expectancies.
According to the Department of Labor, private educational services will grow by 28.7 percent through 2012.
Rising student enrollments at all levels of education will create demand for educational services, such as educational consulting businesses, home tutoring, etc.
3. Professional and business services
According to the Department of Labor, the businesses included in the professional and business services industries are expected to grow by a little over thirty percent.
This is an area that will be one of the fastest growing industries in our U.S. economy!
And within the business services industry, businesses who specialize in employment services will grow by over 50 percent!
Other businesses expected to grow within this hot industry are:
Professional, scientific, and technical services are expected to grow by over twenty-seven percent!
Businesses involved in computer systems design and related services will grow by over fifty percent and may add more than one-third of all new jobs in professional, scientific, and technical services.
The increasing reliance on information technology and the continuing importance of maintaining computer systems and network security will drive business growth significantly.
Management, scientific, and technical consulting services also will grow, spurred by the increased use of new technology and computer software and the growing complexity of business in the modern world.
4. Information Businesses
Selling information is and will always be a profitable business. Within the next ten years, I believe it may get even hotter!
Information businesses and related industries are expected to increase. This includes some fast-growing computer-related industries such as software publishers, Internet publishing and Internet broadcasting; Internet service providers, Web search portals, and even data processing services.
And don’t forget traditional businesses moving to a completely digital format.
5. Leisure and hospitality
Arts, entertainment, and recreational-based businesses, including physical fitness and exercising (for instance, personal training) will grow.
Most of the growth is going to stem from the growing participation by the public in arts, entertainment, and the recreation activities. The reason these activities will tend to increase, according to the Department of Labor, is typically because of the increasing awareness of the health benefits of physical fitness.
Accommodation and food service businesses are expected to grow by over sixteen percent. The growth in this particular field will be concentrated in food services and drinking places. The main reason why this business is going to be one of the hotter industries is due to a continuous trend towards increases in population, more two-income families, and a trend towards more sophistication in the population’s dining habits.
6. Financial activities
You’ll be able to see a perfect trend toward a continued dependency on capitalism and the importance of money. Look at baby boomers who, in their peak savings years, fall into categories and age brackets of tax-favorable retirement plans. The more this generation continues to outlive prior generations, the more they will be looking for businesses who can help them with their finances.
7. Construction Related Businesses
This one — over the long haul — will stand the test of time. We will always require shelter (homes, offices) and although the construction industry has been hit as hard as any industry — it will come back. Home repairs, green building, remodeling will continue to be a growth industry.
8. Professional and related occupations
Professional and related businesses will grow the fastest and add more new jobs than any other major group. Through the 2012 period, a 23.3-percent increase in the number of professional and related work is projected, a gain of 6.5 million.
9. Management, business, and financial business
Businesses who direct and manage the activities of other businesses, government agencies, and other organizations are expected to increase by over fifteen percent by 2012.
Among the financial management businesses, accounting and auditing firms will grow quite a bit because of the increased number of businesses growing throughout the world and into the global economy.
Management analysts also will be one of the fastest growing businesses in this group, along with personal financial advisers, with increases in the 30 percent range for each.
10. Installation, maintenance, and repair
Being in the business of installation, maintenance, and repair means you may install new equipment and/or maintain and repair older equipment. According the the Department of Labor Statistics, these businesses will grow by over thirteen percent through 2012. The fastest growth rate will be among heating, air-conditioning, and refrigeration mechanics and installers, an occupation that the Department of Labor states is expected to grow 31.8 percent through the 2012 period.