Entrepreneurs have a ton of original ideas, and depending on how they’re feeling on any particular day, every one of them can sound like a winner. This creative and positive outlook is one of the reasons why business creators are born leaders. To head a team of professionals and develop a comprehensive vision for how to reach your business goals is no small task. It requires not only the creative and positive spirit we mentioned, but it also means that you understand what industries are hot right now and where the market is headed.

But if you don’t have the time to crunch all of the numbers and do all of the research, then, lucky for you, we’ve done it for you. Meaning, we examined a report from the Department of Labor that summarizes their anticipated fastest-growing industries from 2018-2028 and broke it down in a clear and accessible blog post for you. Published on September 4, 2019, the report anticipates the number of increases in employees in a given sector between 2018-2028 and their compound annual rate of change, which is all included here.

So if you’re thinking of starting a new business, your first business, or just looking for some ideas to kick-start your creativity, check out this list of the hottest industries for 2020. It’ll give you the knowledge and edge you need to make your next business venture a big success.

The 10 Hottest Industries for 2020

  1. Home Healthcare ServicesCompound Annual Rate of Change: 4.0% | Employment Change: 713,700
  2. Outpatient Care Centers Compound Annual Rate of Change: 3.1% | Employment Change: 331,000
  3. Individual and Family Services – Compound Annual Rate of Change: 2.8% | Employment Change: 791,500
  4. Other Information Services Compound Annual Rate of Change: 2.5% | Employment Change: 85,700
  5. Offices of Health Practitioners Compound Annual Rate of Change: 2.4% | Employment Change: 254,600
  6. Medical and Diagnostic Laboratories – Compound Annual Rate of Change: 2.3% | Employment Change: 72,400
  7. Computer Systems Design Compound Annual Rate of Change: 2.2% | Employment Change: 520,700
  8. Forestry – Compound Annual Rate of Change: 2.1% | Employment Change: 1,300
  9. Other Ambulatory Healthcare Services Compound Annual Rate of Change: 1.9% | Employment Change: 64,700
  10. Software Publishers – Compound Annual Rate of Change: 1.8% | Employment Change: 81,200

Conclusions

Having a great business idea is the first step to success, but the realities of the market and the industry you choose to enter will greatly affect whether or not your business venture reaches the heights that you hope it will. So make sure you arm yourself with as much knowledge as possible.

Also, if you need funding for your small-to-medium-sized business, then contact Fundkite today. We can provide you with funds from $100,000-$2,000,000 to get started on the business venture of your dreams. The application process is incredibly simple, approvals can be completed in a few hours, and we can even provide you with next day funding.

So contact us today to see what we can do for your business!