Did you know? - Small Businesses

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Published on Wednesday, October 17, 2018

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Metro Creative Connection

There are no guarantees that small businesses are going to thrive.

The Small Business Association states that 30 percent of new businesses fail during the first two years of opening, while 50 percent fail during the first five years in operation. A whopping 66 percent go out of business within 10 years of opening. Despite those odds, plenty of entrepreneurs still pursue their dreams. Investing in businesses that are trending upward is one way to avoid falling victim to small business trends. The following are some business opportunities that figure to thrive in the years ahead.

• Senior care: Seniors are living longer, and a great deal of Baby Boomers have passed retirement age. Opportunities for senior-related services continue to grow. These can include everything from housing options to delivery and catering services.

• Yoga and fitness: People spend billions of dollars on yoga classes, supplies and attire, as The Economist predicts the yoga industry will exceed $8 billion by 2019.