The best new business ideas for 2016 were a motley, yet organized group that focused on the boomer generation retiring and how the products and services of 2016 would need to fulfill this large demographic group’s needs. Because of this trend, many of the best new business ideas for 2017 are similar in nature to last year’s, which is great for entrepreneurs who have chosen to focus on these fields: the environment, aging gracefully and filling the boomer’s shoes.
A slow but steady increase in wanting to protect the environment has created a huge niche market that is primed and wide open for innovative entrepreneurs to take advantage of. Some of the best business ideas include:
- Solar powered products and services, such as heaters, installation and consulting;
- Conversion to environmentally friendly options, such as vehicle mechanics to transform normal vehicles into ones that run on vegetable oil or energy retrofitting;
- Organic food, such as farming or home delivery;
- Green clothing options, such as organic cotton;
- Consulting services for companies wanting to move toward a more environmentally friendly business practices; and
- Xeriscaping (landscaping using water conservation methods).
We’ve got a shortage of qualified support, staff and devices that cater specifically to the still-growing aging population, and there doesn’t seem to be an end in sight. Even the U.S. Bureau of Labor has predicted there will be approximately one million nursing positions by 2020 that can’t be filled because of lack of educated talent. Entrepreneurs with skills in any of these areas – provided they put in the necessary work – would be taking advantage of one of the best business ideas for 2017 whose demand won’t be diminishing anytime soon. Business ideas in this category include:
- Aids to mobility like scooters;
- Nutritional products;
- Products that help seniors and/or their caregivers cope with mental or physical disabilities;
- In-home nursing care and/or health care services in general;
- Funeral and/or retirement planning services; and
- Support people to discuss or explain changes in legislation that affect seniors.
Filling the Boomers’ ShoesTied to the aging population is the fact that there just aren’t enough of the up-and-coming generations (purely from a statistical standpoint) to fill the positions they are retiring from. Just some of the best business ideas in this category include:
- Executor assistance programs (i.e. you are the executor of your parents’ will but have no idea what to do when the time comes);
- Support for retirees who decide to outsource or freelance their skills to their former employers;
- Employment services either for the boomers themselves (retirees who are bored and want to work part-time) or for companies looking to fill the retirees positions.