5 Promising New Business Opportunities To Consider In 2017

Are you considering starting a business in 2017? Are you looking for fresh opportunities in an industry where growth is expected?

Here are five industries that are projected to grow in the coming years:

  • Health care: As millions of baby boomers age, the need for more health care services will rise. Opportunities are expected to arise in specialty medical fields such as optometry and physical therapy, as well as home care services.
  • Cannabis: Recreational and medical use of marijuana is legal in Oregon, and significant growth in the marijuana industry is expected over the next several years. However, this industry is heavily regulated, so individuals looking to start a business - growers, suppliers, distributers, etc. - are best served working with an attorney who understands this specialized industry, like the team at Chenoweth Law Group, PC.
  • Online selling: More and more people are making a greater percentage of their purchases online. As e-commerce grows, there are opportunities for sellers who are willing to invest in online sales opportunities.
  • Technology: The tech industry continues to be strong, offering growth opportunities for tech-savvy entrepreneurs. Software and app development, smartphone technology, machine learning, 3-D printing, artificial intelligence, and consulting are just a few of the areas with expected growth.
  • Building and maintenance industries: The construction of new residential and commercial buildings, as well as the maintenance of existing structures, is part of a growing industry.

This information is based on data from the U.S. Bureau of Labor Statistics, IBISWorld, and Sageworks, as reported by USA Today.

Starting a Business: Legal Steps To Take

If you are considering starting a new business, it is important to ensure that your legal interests are protected. Working with an attorney who focuses on business law is advisable. Some of the services an attorney can provide during the critical planning stages include:

  • Business entity selection
  • Business contract drafting and negotiating
  • Business licensing and permits
  • Intellectual property protection
  • And more

Depending on the type of business you are interested in starting, your legal needs may differ.

If you are interested in speaking with an attorney about your business plan, contact Chenoweth Law Group, PC, to schedule a consultation.

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