Trying to grow a business in a troubled economy is certainly no easy task. If your plans for expansion have been stalled for the past few years, you may be in for a reprieve.
Financial information company, Sageworks, recently released data revealing a surge in business in a number of different industries over the past year. Not only is this exciting for business owners, it’s also promising for job seekers, as increased sales often leads to a need to take on additional employees.
Top 20 Fasting Growing Industries
A number of industries have been experiencing rapid growth, which may be a sign that the economy is on the rise. According to Sageworks, the following industries have displayed a promising increase in sales over the past 12 months:
- Offices of Real Estate Agents and Brokers ─ 23%
- Residential Building Construction ─ 17%
- Other Wood Product Manufacturing ─ 17%
- Foundation, Structure, and Building Exterior Contractors ─ 17%
- Utility System Construction ─ 16%
- Lumber and Other Construction Materials Merchant Wholesalers ─ 15%
- Computer Systems Design and Related Services ─ 14%
- Other Specialty Trade Contractors ─ 14%
- Nonresidential Building Construction ─ 12%
- Architectural, Engineering, and Related Services ─ 12%
- Other Heavy and Civil Engineering Construction ─ 11%
- Employment Services ─ 11%
- Building Equipment Contractors ─ 11%
- Automobile Dealers ─ 11%
- Building Finishing Contractors ─ 11%
- Commercial and Industrial Machinery and Equipment Rental and Leasing ─ 10%
- Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers ─ 10%
- General Freight Trucking
- Other Motor Vehicle Dealers
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services
Try your best to be patient if your company doesn’t fall into any of the above industries, as increased sales in one industry often spikes growth in other relevant areas.
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