What do you predict will be a promising industry or niche to start a business in for 2022, and why?
These answers are provided by Young Entrepreneur Council (YEC), an invite-only organization comprised of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. Learn more at yec.co.
1. The Travel Industry
I’d recommend anything in the travel space. People are going to be more and more excited about traveling and seeing more of the world after not being able to for so long. You’ll see more people able to work from anywhere too, making travel easier for them, and making it a great niche to be in for 2022.
Fintech is one of the most profitable niches in recent memory, and it seems to me that it is going to continue to be profitable in 2022. I recommend that all entrepreneurs follow along with the latest developments in this area since it’s likely to have a profound effect on other industries in the near future.
I believe the most promising industry to get into in 2022 will be e-commerce. The way people like to shop has changed drastically in the last two years, and people are shopping online now more than ever before. Since there are so many lucrative untapped niches out there, as long as you can find a good niche and have a solid marketing strategy, you would be surprised how well you will do.
As we come out of the pandemic, I don’t think people will stop ordering things online. The pandemic forced us to adapt to it, and it suits many people. We are also seeing more people given the freedom to work from home, and people are choosing to purchase homes in more rural areas. If you can find an ancillary business to support that and find a strong differentiating factor, the sky’s the limit.
5. Communication Technology
Think about software, apps and tools that facilitate communication, such as video conferencing, podcasts, videos, chats, etc. People are relying more and more on remote conferencing and this will continue even as the pandemic eases up. There is always a need to provide better tools and to solve problems in these areas, whether you create hardware, software or innovate new platforms.
6. Data Security
Internet of Things devices and electronics are already “listening” to us and gathering data. And while this makes life more convenient, it also makes us vulnerable to malicious attacks. Data security is an industry that will become more necessary than ever before. Hackers are just getting smarter, so it’s vital to rely on businesses that keep our data secure, making data protection critical in 2022.
7. Health and Wellness
Health and wellness is one promising industry to start a business in for the coming year. With the outbreak of the pandemic, people are becoming more and more conscious about their health, hygiene and wellness. So anything related to those can be a huge success if things are well-planned and strategized.
8. Software as a Service
I think the SaaS industry will continue to grow in 2022. Business owners and casual consumers use various types of software in their everyday lives, and this trend isn’t going to change anytime soon. We will see companies continue to innovate and give users more reasons to invest in their services.
9. The Eco-Friendly Space
Climate change is becoming a major concern for people across the globe. So anything that can help change the environment for the better can do good in the coming year. You can focus on creating eco-friendly products, solar energy products, etc. if you’re looking to venture into a new field.
10. Influencer Marketing
The influencer marketing industry will continue to grow, so those interested in social media should consider becoming an influencer to make an income. You can make thousands per post just by sponsoring a brand and its products and services.
11. The ‘Work From Home’ Niche
With so many people now deciding to work from home, the home office will become an increasingly critical area of life. Companies that will benefit will be those that can create products to make the home office more effective, either through physical furniture and comfort items or through apps that make working from home more accessible and more effective.
12. Delivery Services
Courier services will do well — businesses that will help more people to save time. So we are not just talking about any courier, but automated courier services that offer more convenience and faster transactions, like billing and updating people online, making the sender feel like they personally delivered the package themselves, etc.