If you’re thinking of setting up your own business in the near future, you probably already know that you’re embarking on a formidable but difficult project. Before you take the plunge, it’s best to identify the sectors that have the wind in their sails.
Knowing and understanding market trends is essential to the success of your business, and to ensuring that you have every chance on your side. Beyond an idea, it’s the ability to respond to consumer needs that will guarantee success.
A “growth sector” is a market with strong potential for growth and economic development, benefiting from high demand in line with the needs and aspirations of our society. It’s best to enter this type of sector to ensure lasting profitability.
Cyber security
Unsurprisingly, cybersecurity takes center stage when it comes to growth markets. A situation linked to the development of digital technology in many fields. Nearly 86% of companies will have experienced a cyber incident in 2022*. The threat is certain, and concerns all types of businesses, as well as private individuals who need solutions to protect themselves (antivirus software, devices to detect and neutralize threats) or support (consulting, raising awareness of IT security).
Personal services
Another sector with a bright future is personal services, which employ nearly 1.5 million people**.
Its growth is linked to the aging of the population, changing family models (increasing numbers of single-parent families, for example), and the fact that more and more working people are seeking to give meaning to their jobs by turning to human-centered activities. As a result, any innovation linked to these growing needs is bound to find an audience.
Renewable energies
At a time when the climate emergency has become an issue for our societies, the renewable energies sector and everything connected with decarbonization are becoming essential.
Companies and citizens alike are aware that they need to rethink the way they live, produce and consume. From this point of view, providing services in line with today’s aspirations makes a great deal of sense.
We’re talking about support for businesses, which will have to reduce their ecological impact. But this also applies to local authorities and private individuals.
In the same vein, the development of new soft-mobility means of transport (bicycles, scooters, electric vehicles, etc.) is opening up new prospects in terms of business creation.
Tourism
One sector which, despite the crisis linked to Covid-19 and inflation, remains high-potential is tourism,” reminds us Emmanuel Lechypre, economic columnist for BFMTV. The French travel a lot, and continue to save up to treat themselves to escapades, whether local or international, family or solo. Vacation models are evolving, and there’s a lot to be done and invented in this area. “Many entrepreneurs are innovating around this new economy. As for foreign tourists, they are still very numerous in France. Welcoming them and offering them complete and original services are also significant opportunities, which can inspire -future- business leaders. Sustainable tourism, for example, is very much in vogue, favoring means of transport other than air travel, and enabling visitors to discover less remote but equally charming regions, so that they can travel while protecting the planet.
Digital
The digital revolution, which has been underway for several years now, is having a major impact on the market. Digital isn’t just a sector, it’s a cross-functional way of developing any business idea. If you want to launch your business in the tourism or personal services sector, you’ll need to look at your product or service through a digital prism: an application, online communication, and so on. It’s a fast way to make a concept known and successful.
Some sectors are more at risk
In this landscape of trends, certain sectors present a greater risk. ” Housing, real estate and construction are going through a major crisis,” continues Emmanuel Lechypre. What’s more, their regulations are constantly evolving, making them a fast-moving sector whose developments are harder to anticipate.
The phenomenon of retraining is also on the rise, with people looking to change career paths. While many do so seriously and successfully, some fields are not without their share of failures, partly due to unskilled people jumping in too quickly. This can be seen in the fields of well-being, coaching and personal development. It’s a buoyant sector, but you have to ensure your legitimacy by offering reliable solutions based on real skills.
Generally speaking, beyond the creation of a product, today’s consumers are looking for solutions.
If you’re looking for an idea to launch your own business, ask yourself what system you can invent to make everyday life easier and solve an unsolved problem.
This may be the way to find THE concept that will guarantee the success of your future business.
* Dell Technologies 2022 study
** Source: French Ministry of Economy and Finance