What business ideas have the highest potential to succeed or fail?
When starting out on establishing a business, it is important to bear in mind what not to attempt to avoid the risk of failure. In this post, you can find a compilation of business opportunities that are least likely to succeed and business ideas that have the most potential to turn out profitable. You can get more information about the current trends and business week today from the Odisha Samaya.
India news today about the riskiest businesses
• Carpentry – This occupation has been hit badly in the recent years and the number of carpenters out of work is constantly increasing.
• Video rental stores – This is probably one of the worst ideas for business. With everything available online either for free or at a very small cost, there are extremely few people who step foot in a rental store.
• Launderers and dry cleaners – India news today about the laundry and dry cleaning industry show a sharp decline in the usage of these services. There is already a lot of competition in this field and the initial investment is too high to take a risk.
Business news today about the most profitable opportunities
• Old age care – With the population explosion and increase in the lifespan of a person, we have a lot of people in the senior citizen category who need constant care and support. There is a lot of scope in the area of providing services for these people.
• Career counseling – This is a field where supply is much lesser than the demand. It is a good opportunity that will bring long-term profits.
• Selling paint – Although this might seem a little unusual, research shows that this is one of the easiest and the most rewarding long-term professions requiring little investment and expertise.