The Covid-19 pandemic has claimed many small businesses and closed them down for good. It has also created opportunities for bold entrepreneurs to strike out and capitalize on unknown territories.
Accommodation and food services are among the favorite business types to start right now. As is a retail trade and arts, entertainment, and recreation.
With startups on the rise, what type of businesses are proving the most popular to start during the pandemic?
In a new report, JustBusiness unveils the top industries entrepreneurs are opening businesses in. JustBusiness’s research involved asking 428 entrepreneurs about their business plans.
Most Popular Pandemic Startup Businesses
Check out the top ten business types entrepreneurs are venturing into.
Accommodation and Food Services
Almost 17% of entrepreneurs surveyed say they plan to open a business in the accommodation and food services industry.
The retail trade is the second most popular industry for entrepreneurs right now with 12% wanting to open a retail venture.
Arts, Entertainment and Recreation
10% of entrepreneurs plan to start a business in arts, entertainment, and recreations.
Real Estate and Rental/Leasing
The real estate and rental leasing sector is popular, attracting more than 8% of entrepreneurs looking to start a new business.
Healthcare and Social Assistance
The pandemic has also created an opening for healthcare and social assistance services. 6.5% of the survey’s participants say they plan to open a healthcare or social assistance business.
Transportation and Warehousing
Transportation and warehousing services are in high demand at present. Recognizing this demand is 6% of participants who say they want to start a venture in this niche.
Another leading industry for startup ventures is educational services. Just over 5% of entrepreneurs plan to start a business in this field.
Professional, Scientific, and Technical Services
4% of those surveyed, plan to open a business in the professional, scientific, and technical services.
Just less than 4% of entrepreneurs recognize the benefits of starting up in agriculture
The same number want to start a business in manufacturing.
Source: Small Business Trends