Top 5 Small Business Ventures of 2012

As readers of this blog may know, I am an adjunct professor for the University of Phoenix (UOP).  The alumni magazine, Phoenix Focus September 2012 edition, includes the article “Top 5 Small Business Ventures of 2012” on page 9 by Julie Wilson.  

I think that the following ideas may be helpful for new and existing entrepreneurs:

·        Mobile app designers – 72 percent of small businesses use mobile apps.  Quoting Anita Campbell, CEO and editor of Small Business Trends, “If you have a business that services small businesses, you should think about creating an app or making sure your website can be seen well in a mobile browser.”

·        Services for seniors – There’s a booming population – the senior population. Americans 65 have an average of 18.8 years life expectancy so this population will require assistance in meeting their needs as they age, e.g. adult day care, shopping services and perhaps even going back to school!

·        Little luxuries – Research by the National Retail Federation shows a gradual resurgence in discretionary spending by consumers, e.g. eating out, gourmet coffee, hair cut and coloring, nail salons.  It is amazing how many nail salons are located throughout Dallas.

·        Home furnishings – According to the Chinese lunar calendar, 2012 is the “Year of the Dragon” and is a good time to get married and have children.  IBM anticipates that in-store sales of home furnishings items will increase by 8 percent and online sales will increase by 28.4 percent.  Small businesses can tap into this trend and recommends working with such sites as eBay and Amazon.

·        Food – According to the National Restaurant Association total restaurant sales are expected to reach a record high of $632 billion in 2012! Even thought the failure rate for new restaurant opening is about 60 percent the first year, there is money to be made from the eat-out crowd.   

Please comment in the blog or email me at glynjordan@gmail.com your ideas and suggestions about being involved in a part of small business.

Thanks, Glyn