What other business opportunities are excellent choices for those interesting in starting a business or investing in one this year? Here are five more of what I consider to be the best business opportunities of 2008:
6. Green consulting
As I said in the introduction, more people are interested in doing their part to protect the environment than ever before - and many of those people are hungry for information about what to do and how to do it. As a green consultant, you would visit the client's home, business or both and assess how environmentally sound their current practices are and make recommendations about what they could do to be greener. A background in the construction trades would be useful for this business opportunity.
7. Organic food
In the Best Business Opportunities of 2007, I wrote about what a hot business opportunity nutraceuticals are. Since then, the tainted food scares have caused increasing numbers of people to become fixated on just what they're putting into their mouths and where it's from, making the organic food industry hotter than ever. We tend to think of produce when we think of organic food but the market for organic meat is growing apace. People want to know where their meat is coming from and how those animals have been fed and treated.
The increasing interest in conservation of our natural resources makes xeriscaping a good business opportunity and a great choice for anyone interested in getting into a gardening/landscaping business. As a business owner, xeriscaping gives you the chance to flex your green thumb and feel good about helping the planet by creating attractive landscapes that are designed to conserve water. And low water use landscapes are also low maintenance landscapes, a great selling point with potential clients.
9. Import Consulting
Although Canada is well known as an exporter, the number of Canadian importers is steadily rising, creating a larger market for import consulting. Besides expertise in customs and trade logistics, your clients would be seeking knowledge about and relationships within the particular countries they were importing from. While the three countries Canada imports the most from are (in order) the United States, Japan and the United Kingdom, there's a growing interest in importing from countries such as China. To make the most of this business opportunity, it would be wise to become or partner with a licensed customs broker.
10. Home renovationI know I keep mentioning it in these yearly lists, but home renovation is one of the best business opportunities again this year. People just can't seem to stop making improvements to their homes, providing a bonanza to all kind of trades people, from general contractors through electricians, masons and floor installers. High home prices will keep this trend strong throughout 2008.
So there they are; my predictions for the best business opportunities of the year. Looking at some of my Best Business Opportunities from previous years will give you even more business ideas to consider. (See the sidebar.)
If you are particularly interested in starting a home-based business, note that most of the business opportunities I've presented here could be operated as home-based businesses. You may also want to read Top 10 Home Business Opportunities.