New Business Filings Jump
Earlier this year, trend watchers predicted a rapid rise in businesses serving the green energy markets. E-records were projected to be another hot trend. And just this month, Reinier Evers at Trendwatching.com highlights the rapid growth of businesses that offer ways to enforce “foreverism” between consumers and between consumers and businesses: Think Twitter and LinkedIn. Trend watching certainly makes a great topic for blog posts and speculative conversation about where we’re headed culturally but what is really going on in the world of business formation?
For that, I turn to a recent post on BizFilings, a company that has its finger on the pulse of business creation across the country. As formerly employed people give up on failed job hunts or are looking to do something new, many turn to starting their own businesses. According the BizFilings, the number of new businesses that have formed since January 2009 is up dramatically. And many of these start ups are not happening in trendy industries but in what people believe are ‘tried and true’ options.
As a percentage of total new businesses formed, here are the top categories for 2009:
- Manufacturing 6.7%
- Services 25.6%
- Construction 6.5%
While these entrepreneurs are turning to businesses they know something about, it’s a fair bet that they might not know the best way to market what they’re selling. A good way to launch a new business is to budget for a large grand opening ad campaign. Now might be the best time to approach businesses planning to open in your market and work out a marketing strategy.[Source: BizFilings release, June 10, 2009; TrendWatching]