Future of work newsletter free subscription Future of work newsletter free subscription Future of work newsletter free subscription
  • Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Workspaces Run Better On UltraSoftBIS
Home Business

Here Are The Best Industries And Locations For Starting Up Your Own Business In 2022

If having your business be successful is a top priority, the best industries to go into are biotechnology, pharmaceuticals, and healthcare products.

Daniel LehewychbyDaniel Lehewych
April 15, 2022
in Business
Reading Time: 5 mins read
A A
Here Are The Top 10 Companies To Watch For Hybrid Jobs In 2022 (1)
  • In 2021, the Great Resignation entailed millions of Americans quitting their jobs. Many of these former workers are, for the first time, interested in starting a business. 
  • Confusion can arise when taking steps towards developing your business.  
  • Knowing your industry is a necessary precondition for business success.  

Starting a business can feel paradoxical – especially at first. 

The rewards are ample and worthwhile upon success, which is the ultimate motivation for people to start their business. Nonetheless, the demerits associated with certain errors can cost you a fortune – even your livelihood, if you aren’t careful.  

Advertisements
Nexudus - Tech Stack Lovers

With these two forces pulling you in different directions, confusion can arise when taking steps towards developing your business, which is itself counterproductive.   

To bypass all of this counterproductivity, we need to look at the factors entailed in developing a business – especially as they pertain to current business trends.  

Advertisements
Maximize Flexible Space Revenue

In 2021, the Great Resignation entailed millions of Americans quitting their jobs. Many of these former workers are, for the first time, interested in starting a business. Surely counterproductivity is the last thing Great Resignators are hoping for in their new ambitions.   

If you are starting up your own business in 2022, here are some important things to keep in mind:  

Best industries for starting a business in 2022 

Not everyone who is interested in starting a business knows which industry they will end up selecting. Knowing your industry, however, is a necessary precondition for business success.   

If likelihood of future success is of top priority for you, according to a new study from Small Business Prices, the best industries to go into are:  

Advertisements
Yardi Kube automates flex and coworking operations
  1.  Biotechnology
    “Biotechnology is expected to see the most expected growth revenue within the next 2 years, with an influx of 144.01%“
  2. Pharmaceuticals
    Drug companies are expected to see a growth in revenue of 140.37% within the next two years
  3. Healthcare Products
    Healthcare product companies are expected to see a growth in revenue of 52.62% within the next two years.  

These industries are highly technical, and require extended periods specialized training for admission. Likewise, startup costs vary:

  1. Biotech startup costs begin around $100,000. 
  2. Pharmaceutical company startup costs begin around $880,000 and $1,800,000.  
  3. Healthcare product company startup costs begin at $1,057. 

The lowest financial barrier to entry for the top industries growth-wise is in the healthcare product industry, whereas the highest barrier to entry is in pharmaceuticals.    

The lowest barrier to entry – in terms of the necessity of formal credentials or expertise – is also the healthcare product industry, as this includes things like sports nutrition and supplementation, which is an industry-low in regulations.

Best countries for starting a business in 2022 

According to the same Small Business Prices study, the best countries, based on the number of new registered businesses per year, business survival rate, and gross domestic spending on research and development per year, to start a business in include:  

More stories for you

From Lecture Halls To Offices, Is The Future Of Work Just Bots Talking To Bots

From Lecture Halls To Offices, Is The Future Of Work Just Bots Talking To Bots?

3 hours ago
All That AI Tension It Might Be Pointing You in the Right Direction

All That AI Tension? It Might Be Pointing You in the Right Direction

4 hours ago
Supreme Court Clears Way For Trump To Resume Mass Federal Layoffs

Supreme Court Clears Way For Trump To Resume Mass Federal Layoffs

14 hours ago
U.S. VA To Eliminate 30,000 Jobs In Dramatically Scaled Back Workforce Reduction Plan

U.S. VA To Eliminate 30,000 Jobs In Dramatically Scaled Back Workforce Reduction Plan

14 hours ago
  1. United States
  2. United Kingdom
  3. Australia
  4. France
  5. Chile
  6. Italy
  7. Spain
  8. Turkey
  9. Mexico
  10. Germany

The highest business survival rate on this list is in the United Kingdom (89.18%). However, the United States tips the scale as the best country to start a business in.  

The United States and United Kingdom take spots one and two respectively. Both countries have over 650,000 registered businesses (the USA has 733,825 and the UK 664,974). However, they differ massively on how much they spend on research and development. The USA spends just under half a billion on elevating businesses across their country, whereas the UK spends a considerably lower amount of £38,315 million. 

In the U.S., that is, business owners are the most likely to find support for their business through government spending and research programs.  

Best cities in the U.S. for starting a business in 2022.  

Considering that the best country to start a business in is the United States, it is also worth considering which cities in the United States are best suited for starting a new business in 2022.   

Advertisements
Disaster Avoidance Experts

According to a recent WalletHub survey the best cities –based on business costs, business environment, and access to necessary resources – to start a business in this year includes:  

  1. Laredo, Texas 
  2. Durham, North Carolina 
  3. Lubbock, Texas 
  4. Orlando, Florida 
  5. Boise, Idaho 
  6. Charlotte, North Carolina 
  7. Raleigh, North Carolina  
  8. Austin, Texas 
  9. Fort Worth, Texas 
  10. Tampa, Florida  

For some Americans, this may come as a surprise, as often cited business epicenters include huge cities like New York City, Los Angeles, and Chicago.  

While the business environment in these larger cities and access to resources have high ratings, business costs are some of the highest in the nation. A fair amount of people in New York don’t make enough to afford rent, let alone enough for starting a new business.  

Conclusion: 

With the above-mentioned data in mind, a lucrative idea for starting a business in 2022 might be to start a healthcare product company in Laredo, Texas.  

Advertisements
Nexudus - Tech Stack Lovers

However, any combination of city, country, and industry from those mentioned above are all worthy factors that can contribute to optimizing your business plans for 2022.  

Knowing what industry your business will consist in, and where your location will be located are vital components to the success of your business. These are extremely time-dependent factors and are therefore worth considering when planning a startup.

Advertisements
Subscribe to the Future of Work Newsletter
Tags: BusinessFUTURE OF WORK®Workforce
Share6Tweet4Share1
Daniel Lehewych

Daniel Lehewych

Daniel has been freelance writing for over 3 years now. He cover topics ranging from politics, philosophy, culture, and current events, to health, fitness, medicine, relationships, and mental health. He is currently completing a Master's Degree in Philosophy at the CUNY Graduate Center in New York City, where I specialize in moral psychology, cognitive science, and the philosophy of mind.

Other Stories Recommended For You

From Lecture Halls To Offices, Is The Future Of Work Just Bots Talking To Bots
Tech

From Lecture Halls To Offices, Is The Future Of Work Just Bots Talking To Bots?

byFeatured Insights
3 hours ago

Students and professors are using AI. What happens when no one’s accountable for the results?

Read more
All That AI Tension It Might Be Pointing You in the Right Direction

All That AI Tension? It Might Be Pointing You in the Right Direction

4 hours ago
Supreme Court Clears Way For Trump To Resume Mass Federal Layoffs

Supreme Court Clears Way For Trump To Resume Mass Federal Layoffs

14 hours ago
U.S. VA To Eliminate 30,000 Jobs In Dramatically Scaled Back Workforce Reduction Plan

U.S. VA To Eliminate 30,000 Jobs In Dramatically Scaled Back Workforce Reduction Plan

14 hours ago
Advertisements
Workspaces Run Better On UltraSoftBIS
Advertisements
Workspaces Run Better On UltraSoftBIS

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00