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Monday, February 3, 2014

The top 4 growing online industries

By Amy Thomson

Online entrepreneurs bypass a significant amount of fees that store-front organizations cannot avoid — like a one-time domain fee opposed to a monthly rent check. Online businesses make an exceptional use of minimal resources and when done right, they can be extremely lucrative.
e-business growth
Online business often requires less capital investment

The advantages of starting an online business include nominal capital investment, easy access to help, such as web designers and e-commerce professionals, and the ability to establish something quickly. The Internet is a free, accessible source for virtually all the information you need to start an online business and your new business’s home.

One of the best parts of starting an e-business is your immediate worldwide reach. For example, the Wall Street Journal reports that online shopping for Christmas rose 14 percent this year in the United States, and the United Kingdom has shown similar growth in this sector. This clearly indicates the increased interest in online shopping, and other types of online businesses are experiencing similar levels of growth. 

Retail markets


Online retail spending breached the billion dollar mark on Black Friday last year, which was a 15 percent increase from 2012’s revenue, according to research conducted by ComScore. Online retail stores reach a larger audience than physical store fronts. Starting this business could be as simple as finding a niche, developing your own product or finding products which fit your market and developing a trendy online site to sell them.  

E-publishing


As some books and short stories are now being published straight to the electronic-reader market, e-publishing is another area of continued online growth. Whether you have your own materials to publish or are interested in publishing other people’s works, e-publishing is a relatively simple online business to both begin and maintain.

Virtual meeting rooms


Another excellent choice for an online business is creating virtual meeting rooms. As businesses become more global, the need for a secure place to exchange sensitive information from all over the world also increases. The obvious benefit of this resource to businesses is that it both eliminates the need for travel and provides an immediate location for group meetings.

Social network gaming


One of the fastest growing online business fields, according to Forbes and others, is the social network gaming industry. This is due, at least in part, to the huge increase in the number of people who now possess tablets, e-readers and other mobile devices. The online gaming industry has increased by more than 180 percent over the past five years, and that number is only likely to increase as the number of Internet and mobile device users increases. Entertainment software and coders who know how to create games are easy to find online, and with an interesting idea you could soon be the proprietor of a new hit game.

Other online business ideas which have experienced growth, particularly in the past few years, include fantasy sports services, specialty food stores, translation services, travel services and online payment processing tools. The Internet offers unlimited opportunities in every area, particularly to those who are interested in finding a new way to do business. What was once available only to big businesses or companies is now accessible to anyone with the desire to innovate and the courage to start something new. If you are interested in pursuing something you are passionate about, as well as maintaining control of your own business and financial future, an online business is worth your consideration. 

About the author: Amy Thomson writes about technology, career success, and education. When she’s not writing, she’s skydiving over the Rocky Mountains.
Image license: SEOPlanter, CC BY 2.0