The 15 most profitable SME industries
Rose Leadem from Entrepreneur talks about the top 15 industries where you can build the most profitable small businesses. You'll find that most of these will be service industries where very little start-up capital is required, and certifications and qualifications are needed before you can even think about starting.
The scary stats in Australia are that something like 75% of small businesses fail after their first year, and very few make it to that magic five-year mark. Interestingly about 75% of franchisees make it to that same five year mark. The reason for this is the support they receive, and the brand they are part of.
Make sure you surround yourself with a supportive network of suppliers, trusted advisors, mentors, and educators. The local business association, industry association, or chamber of commerce, are all great places to start.
