There’s no good idea that can’t be improved on. – Michael Eisner
Working at Small Business BC, I experience BC business trends first-hand. Here are some of my ideas on popular BC businesses for 2011.
According to Statistics Canada, Seventy-five percent of BC small businesses are service-based, up 5% from 10 years ago. In keeping with provincial trends, service-based businesses dominate the types of businesses that we help start at Small Business BC.
As communication technology advances and the world offers a wider variety of every service under the sun, here are some service-based businesses you should consider for 2011:
- life coaching
- personal trainers
- health-care for the elderly
- massage therapy
- renovation related businesses
- interior design
- immigration consulting
- pet services such as doggy daycare and grooming services with an organic or green component
- tour operators
- beauty salons
Personal Services
Specializing in personal services is constantly growing in the metro areas of BC. Increasing pace of life, less leisure time, higher incomes, and a world of increasing choice, are factors that are driving the demand for personal services.
Personal shopping, catering, stress management, time management, life coaching, personal trainers, pregnancy coaches, consultants, and personal concierge, are businesses that meet the needs of the fast-paced lifestyle of BC and the willingness for people to pay for this type of service. Through managing brand loyalty, businesses can concentrate on fewer clients and offer a higher level of service. These businesses can benefit from promoting their services through social media such as Twitter, Facebook, and Flickr which encourages the recommendations of those loyal customers. For more ideas on personal services, click on the Springwise.com icon and subscribe to their weekly email to stay connected to recent business trends.
Baby Boomer Services
According to Global News, Canada’s baby boomer population ranks 3rd in the world in population. This generation provides a large market for products and services for the next 18 years. This group’s health, mobility, and increasing average life trend are factors for a growing market. Examples of the business types that serve the boomer generation include:
- Fitness
- Cuisine in all forms as long as it’s tasty and convenient;
- Health related businesses including vision care, orthotics and treatments for mobility;
- Travel tour services;
- Age reduction products;
- Energy food and liquids;
- Technology coaching for the fast-paced changing world of communication.
To stay in touch with what boomers are thinking today, check out boomer consumer the blog or click on the icon above.
Elderly Health Services
According to BC Stats, the average BC life expectancy increased by 3.4 years between 1991 and 2009. People in BC are living longer at a faster rate than ever before.
Business opportunities that serve BC’s elderly range from chauffeur services, personal shopping, nursing, cleaning, and companionship.
Renovations for elderly that are restricted in their mobility are also an important opportunity for small business. Access ramps, expanded doorways for wheelchairs, automated lifts for stairs, all are projected to be in demand for BC’s aging population.
Online Services and Products
The popularity of smartphones has opened up the market for application development in the same way the internet opened up website design. Smartphone users are expected to spend $6.2 million this year and download 4.5 million apps. Applications (apps) range from testing your alertness on long car trips to converting your phone into a credit card reader for processing transactions.
Going Social
Daily deal websites, such as Groupon, have brought local businesses and buyers together based on an electronic social network, much like Facebook and Twitter.
In its infancy Groupon provided deals for all types of local suppliers and shoppers; now as the concept develops, these businesses have begun to target particular psychographic groups such as women shoppers, young shoppers, fare trade businesses and ethical shoppers.
I recently received a call from an entrepreneur who had grown his daily deal business by 100,000 members in less than a month and was looking for a joint-venture partner to help with his distribution.
Other online business opportunities include website design, graphic design, online marketing, social media consulting, and content developers.
Related Resources
To read more about hot business ideas for 2011, check out Entrepreneur magazine’s article on the “The Disupters” which describes the changes we can expect this year or click on the headline below. Also read Entrepreneur’s article on their list of “100 Brilliant Ideas“.
To keep weekly track of business ideas and trends that might impact your business, subscribe to the Business Opportunities Weblog Network.
To learn more about researching the trends that affect businesses, enroll in Small Business BC’s Start Smart for Market Research.
If you have any questions about this article, don’t hesitate to email: