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The Hot Industries for Starting a Business in 2017

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The Hot Industries for Starting a Business in 2017

The Hot Industries for Starting a Business in 2017

Are you searching for a potential industry to start a small business? Take a look at the hot industries for starting a business in 2017.

Aah! All set to start your entrepreneurial journey? Need some inspiration on choosing a potential industry and biz idea? Well, it is very important to know about the best industries to ahead with.  Here is a list of some of the grooming industries which are poised for success in 2017 and could be the best option for starting a business. All these segments are still in early days and have set to become more established sectors in the year 2017. What makes these segments more attractive to start a new business?   Find more detail here;

Fintech

Smart ways of payment, investment and savings are in demand especially after some big decisions taken by the Indian government including demonetization and digitalization of payment systems. Now more people are using debit/credit cards and mobile wallets for making easy payments. In addition, the demand for implications of smart payment systems also augmented from the industries like real estate, insurance, banking and many others. It is very clear that for those who think of starting a fintech business with a right mix of regulatory framework and technology, this sector offers huge opportunities. To get a complete insight of fintech industry, you can click here (https://assets.kpmg.com/content/dam/kpmg/pdf/2016/06/FinTech-new.pdf )

Digital Healthcare

There is a greater need for healthcare services than ever before! As per the available data, Indian healthcare segment has received more than $18.5 billion as in Foreign Direct Investment (FDI) since 2000. No doubt the sector has registered rapid growth in recent years but for many people, convenient healthcare is still a dream and this is the area where you can find out a business opportunity for yourself. Everything from delivering healthcare products and services directly at doorstep offers burgeoning business opportunities for all those who want to grow successful businesses related to pharma and healthcare. However, the industry does have a few regulatory concerns but with a better understanding and right approach, startups can make profitable business easily. The sector carries a huge potential for all those who can help to find the new ways of making complicated healthcare easier all along fulfilling the demand of people for specialty services.

Education

Education is the sector which is least affected by the recession and economic slowdown because of many reasons. The sector has completely changed in the recent years and moved more to online with the stepping of new technologies. The industry has moved from traditional methods of education to advanced ones, as a result, there is a high potential for Edu-tech ideas because technology has its own advantages. With new ideas and massive investments taking place on innovations, the future of all those startups and entrepreneurs look very bright who are enthusiastic to come up with any other fresh idea.  However, you may have to face a tough competition from already existing startups but, by creating a productive business model you can compete with all them successfully to sustain for a long run easily.

Software Development

Are you an expert in software development and IT things? You can think of developing software that can help others. The country’s startup boom demands for cost-effective enterprise software as this thing help them save their time and money and other resources easily. You can also think of leveraging the power of IT for developing communication and security systems all along building a highly profitable business.

Food

If you are dreaming of starting a food business or restaurant, this is a right time to start as the sector grooming and carries endless possibilities! According to the market estimates, around 67 per cent of India’s total retail spending is devoted to food and groceries and estimated that the retail segment will reach Rs 61 lakh crore by 2020. So, you can think of starting an online food business with multiple food items as customers’ interest for online food delivery is increasing day by day.  However, to build a sustainable business, operational efficiencies and profitability required to be addressed by every business.

All these industries have a promising future as they are still in early days and full of opportunities for new entrants! But, maybe any of these industries do not interest you; in that case it is better to know about the opportunities offered by other industries.

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