Bryan Lawlor
Monday, February 2, 2009
Predominance of New Ventures in the Economy
New ventures are alive in today's economy because of the inventive nature of Americans. This is coupled with the new growth industries that are alive and causing the biggest boom in entrepreneurship since the Industrial Revolution. The focus of today's entrepreneurs is more than factory and production related, in particular for items that will be consumed within the United States. Today entrepreneurs have a variety of doors open to them from new phenomenons, such as "going green," and taking current American companies global, to the large boom in the service industry. The United States today is much different from the past and I myself would look to the service industry as an opportunity for growth. Even though it is more cyclical in nature, the opportunities in all facets of the service sector are endless in today's society. If I were to create a company I would look to helping the growing population of elderly with in-home care through a business that would send qualified individuals to help with day-to-day activities which become difficult for people to accomplish as they age.
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Although not necessarily entrepreneurial in the most traditional sense, many service franchises are finding the type of success you are alluding to, even in these tough economic times. In addition to senior care organizations (Seniors Helping Seniors is one) like you mentioned, educational franchises such as that focus on long-term supplemental education, like Kumon, e.poni, Sylvan are also doing well. Why? Americans view education as a necessity and it is likely to be one of the last cuts to a families budget. In addition, they are a bargain compared to individual tutoring.
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