2014 Fastest Growing Industries
Jennifer Nietz - Manager of Operations
April 2014 – Here we are already heading into Q2 2014. You may feel like you are just recuperating from 2013 and finally starting to get your processes and people back on track. Now it’s time to grow; time to sell, but which industries are growing? This month I am going to discuss some of the fastest growing industries in 2014 according to an article I read on Forbes.com. I have to admit as I read this article there were some industries that I was quite surprised with, however, very glad I had come across them, as I think they can be very good for the growth of your business in 2014.
This list of the fastest growing industries was compiled by a study put together by Sageworks. They took financial data over the last 12 months and compared it to the previous 12 month period. The companies that made the list had significantly higher growth rates in the second period of time.
I would like to point out a couple of things from the list that you will want to take into consideration. Real estate and brokerage has made this list and has certainly seen a change in growth, however remember this industry is cyclical in nature so be careful before putting a lot of your resources into a market that could see some peaks and valleys. On the other hand, an industry like Computer Systems Designs has had steady growth for years and continued this growth. If you have a product or service in this area, things are looking good, as well as, if you have a product or service that those in this industry need this would be a good use of your talent and resources. The Forbes.com article that this information is based off of, also pointed out that an industry like Support Activities for Mining is not only growing but extremely profitable, providing more opportunity for business transactions. All of these industries have a need for support or service, so if you are a service based organization that can help these industries, now is a good time to position your team.
Questions or comments? Please contact Jennifer Nietz at jnietz@teamCOACT.com.