Despite a rather bizarre U.S. election season, there are plenty of reasons to invest in 2017, especially in regards to the growth in start up business trends. Over the years, advancements in technology and elimination of barriers have made it easier for owners to establish their businesses in the services industry. In this post, we will look at the rise in start up business trends in three key areas: professional services, cloud services, and data services.
The growth in digital services has opened the door for many entrepreneurs to set up startups specializing in professional services. More and more startups can now be seen offering legal services, digital marketing services, human resources services, as well as financial services. The growth in professional services spans multiple sectors and industries, all of which focus on providing specialist services and support to all kinds of business and on multiple levels of their operations.
Such companies are also fueling the creation of more startups. Firms that specialize in offering web creation and social media consulting are making it easier for owners to establish their own businesses without hiring extra staff.
The growth in professional services startup companies is expected to provide strong ripple effects in moving the country’s economy forward, in terms of the creation of jobs and for producing higher output of their business clients.
The unprecedented benefits of cloud computing has led to an explosion in the industry, causing both small and large businesses to invest in cloud architectures to achieve greater cost-reduction and growth. Experts anticipate public cloud spending to reach $173 billion by 2026. Furthermore, given the fact that some of the most prominent cloud providers earned $11 billion in 2015 (on LaaS alone), it is only natural that others will be motivated to have a slice of the market share.
Cloud computing has become a necessary pillar of businesses operating today, regardless of their size or the industry they operate in. Cloud architecture models and services, such as LaaS and PaaS, are growing intensely in demand, which is encouraging entrepreneurs to set up their own businesses in order to meet clients’ needs. LaaS or “Logging as a Service” is an IT model where any type of file is centrally collected from any source or location. The files are then reformatted and sent out as data. PaaS or Platform as a Service is a cloud computing service where users create and manage applications without complex maintenance.
This is especially true in the case of SaaS services ( “Software as a Service” is a software model in which software is licensed as a subscription and centrally hosted), which has become a business model of its own. Companies can provide SaaS cloud services to clients with considerably low setup costs and provide services to clients through monthly subscriptions to earn sales and profits.
Firms are also entering the data services industry and specializing in services such as email marketing, data sales, data matching, loyalty consulting services, analytics companies, and web hosting. It is estimated that U.S marketers are willing to spend more than $11 billion on services pertaining to data management.
Many entrepreneurs are hopping on to start their businesses to meet this demand. Analytics companies, for instance, are growing dramatically due to greater need of businesses in gaining customer insights to better augment their marketing and business gains.
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