6 most profitable industries to start a business in 2016

6 most profitable industries to start a business in 2016

Photo by Pixabay

If you always dreamed of starting a company, you have to be aware that the potential for profit is of paramount importance in making a decision about the industry that you want to pursue. This is why the research firm IBISWorld created for Inc. magazine a list of some of the most profitable ones:

1. Real-Time Traffic Information Provider

The foundation of this industry is to be found in more and better mobile connections, which basically permit us to check traffic anywhere and at any time. The average profits for this industry are estimated at around 18%.

2. Snack Food Production

This may sound surprising, but this industry allows for new businesses to sell snacks and produce new and less-traditional ones, and the profits are estimated at about 15%.

3. Internet Publishing and Broadcasting

The average profit in this industry raises to 24%, and potential business models include intellectual property licensing and selling user information to third parties.

4. Financial Data Service Provider

With an average profit of 21%, this industry specializes in real-time trading data, portfolio analytics, research, and reference data.

5. Telehealth Services

This industry based on connecting patients, caregivers, and health educators online, comes with an average profit of 17%, and it includes the possibility of real-time patient monitoring and videoconferencing.

6. HP and Payroll Software

The average profit of this industry is of 29%, and the possibilities include software which can be used in everything from recruiting to learning management and benefits.

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Caroline Parker has a Bachelor of Arts degree in American Studies from the University of Bucharest. She is currently pursuing a master's degree in the same field. She specializes in gender issues, ethnic minorities, and has a passion for literature, but she loves to find out more about any subject she comes across. When she is not busy with her studies, she is attending conferences, seeing plays which deal with contemporary issues in society, traveling, taking photos for her Instagram account, and watching beauty related vlogs. She aims to become a published writer and to pursue a Ph.D. is the field of gender studies.