Fresh out of college? How about starting your own business instead of hunting for your first full-time adult job? Here are the five top sectors you can invest in today and be successful.
The days when college graduates find a job and stay in it for dozens of years are gone now. The job market is different and more dynamic than ever, making it more confusing for college grads to make a career choice and stay with it forever.
Today, entrepreneurship is becoming an increasingly popular career choice for college graduates. Why? Because the business world isn’t just for the big players, like large corporations, these days. Anybody who has a brilliant business idea and just a little bit of initial capital can set up a brand.
After the 2008 financial crisis, the job market has been steady for the past decade, including for fresh graduates. In fact, according to data from a platform Handshake, which is a LinkedIn-like platform for students, jobs for new graduates increased by 11% every year between 2017 and 2019.
However, things will be different in 2020 as the ongoing Coronavirus pandemic has shaken up the job markets worldwide. New college grads may not experience job searching like their older peers had experienced it last year.
Thus, in a time when the job market is really uncertain, starting your own business right after college may be a great idea if you invest in the right sectors. What are the top sectors to invest in today? We’ll share it with you:
If there’s one thing that the pandemic made it really clear for us is that technology is more important than ever to stay connected even when we are locked in our own homes.
Businesses, employees, and even schools went online to continue their activity during the lockdown time. From e-commerce to online learning and remote working, these are activities that opened up a number of doors for business opportunities in the IT sectors.
There are literally a million business ideas you can use to join the IT market, from studying or videoconferencing apps to a web design company.
If you are an IT graduate, you can definitely use all the things you’ve learned during college to start your own tech business.
2. Sustainable businesses
Another thing that the pandemic has taught the world is that we, humans, need to change the way we do business to stop damaging our planet like yesterday.
During the pandemic, as almost the entire world took a break during the lockdown, environmentalists started to notice how pollution rates decreased, wildlife was reemerging, and how our planet seemed to be able to breathe again for a few months.
Now, sustainability isn’t a new trend in the business world. Over the past few years, more and more businesses are going green. But it seems that now, more than ever before, the business environment needs more sustainable companies to set an example for the industry.
And, the good news is that you’ve got consumers on your side, as 70% of them think that it is essential that a brand is sustainable or eco-friendly, according to an IBM study.
What sustainable business can you start? Well, anything that doesn’t affect our environment or helps reduce our impact on the environment, including a recycling company, a renewable energy company, or literally any type of business that has green practices.
3. Forex trading
Are you more of an investor than an entrepreneur? Don’t worry, we’ve got you covered too.
Foreign exchange trading can be much like a business. It takes time, patience, involvement, and a lot of meticulousness to trade Forex full-time and transform it into a lucrative business.
Now, the Forex market is the largest and most liquid market in the world, so there’s a lot of money opportunities out there. But the really good news is that you don’t even need to have extensive knowledge of finances. So, even if you aren’t a Finance graduate, you can still start trading Forex as your own business.
Modern technology, such as the software you need to start trading Forex or robo advisors, has opened up foreign exchange trading for amateurs as well.
Trading forex can be much like running your own business:
- You’ll need the initial capital.
- You need to learn how the markets work before investing.
- You need to be organized with your trading if you want to get some generous amounts of money out of it.
What’s more, another advantage is that unlike taking a long-term commitment as you take when actually starting your own business, trading forex gives you more flexibility. You can start and stop whenever you want if things don’t work well for you.
Considering the actual public health crisis caused by the ongoing global pandemic, the entire world has understood that healthcare remains the top important sector for humans.
Healthcare is a continuously evolving sector as new technologies, treatments, and even diseases are being discovered. So, this sector has plenty of business opportunities too.
If you are a Med graduate, you can definitely use your knowledge and skills and your entrepreneurial skills to do business out of this mix. You can, for example, open a private clinic or a research lab.
Speaking of e-commerce, this is one of the few sectors that have thrived over the past few months despite the pandemic’s impacts. With people being in lockdown in their own homes, more and more consumers turned to the Internet to order essentials and other goods.
In fact, the sector worked so well during the past few months that e-commerce giants are hiring instead of letting employees go like businesses from other sectors. For example, Amazon announced that it is hiring an additional 100,000 warehouse and delivery employees. Walmart and Kroger have also already hired ten thousand new employees to be able to meet the demand for online shopping.
But, as a fresh college graduate, you may not be interested in working for Amazon, Walmart, or Kroger. Instead, you can start your own e-commerce business. If you find the winning product idea, and with the pandemic showing so many new trends and needs among consumers, you’ll definitely find one, you can set up your business website, do some effective marketing, and start selling that product.