Businesses are formed, exist, and maintain maturity if they sell something and earn revenue from the sale. Two months into our new decade, studies are coming out that illustrate which industries are expected to perform well and which are destined for failure. One study, released in December 2009 by IBISWorld, shows the good and the bad between 2000-2009 and 2010-2019.
Money markets, leather tanneries, and recordable media manufacturing were disasters last decade; and the profit losses are projected across the next decade to include photofinishing, laminating plastics, and DVD rentals.
Revenue boosters through 2009 include online dating, search engines, and warehouse clubs; and the positive trend is slated to continue with retirement planning, environmental consulting, and online auction sites.
It should not be surprising that the creative economy is poised for growth over manufacturing sectors that are quickly declining.
Small business owners must innovate to survive; the rise of the technology cluster is testament to the importance of the internet to increasing market competitiveness.
The Enterprise Center at Salem State College in Massachusetts recognizes these facts and I thank them for inviting me to lead a 2-hour workshop on March 4, 2010 about the importance of driving business through online media. If you or someone you know in the greater Boston region is interested in attending, you can register here.
The above article previously appeared at AriWriter.
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