Part 1: The Best Business Opportunities for Starting a Small Business

The Best Business Opportunities for 2007

1) Nutraceuticals

Consumers want more than just nutrition from their food – they want health benefits, too. We don’t just eat tomatoes because they’re tasty, but because we know they’re filled with lycopene which helps fight prostate cancer. The market for nutraceuticals and functional foods, says Agriculture Canada, is “large, global and growing”. In 2004 Canada's functional food market was estimated to be worth $2.7 billion.

2) Agritourism

Agritourism is another rapidly growing industry; there’s more interest in farm vacations and farm-related activities than ever before. If you have a farm, it’s easy to get in on this best business opportunity. Add a picnic site and playground to your farm and open a booth for on-site sales or create an event such as a hay ride or artist’s retreat. There’s also a great opportunity for tourist agencies in creating agritourism packages. The fastest growing part of the industry? Winery tours.

3) Human Resource Professionals

One of the predicted problems of the future is already here – a labour shortage. In fact, the CFIB (Canadian Federation of Independent Business) calls this the number one problem facing SMEs this year. Headhunters, recruiters, employment agencies - turn this top problem into a top business opportunity by being the person or people able to solve staffing problems for small and medium-sized businesses.

4) Personal Memoirs

I don’t think many of us spend much time thinking about writing our life stories. But the life stories of our parents or grandparents – now that’s another story. Many of us would appreciate having a record of our loved ones’ lives before it’s too late, but don’t have the time or talent to do it ourselves. Enter the memorialist, who will interview the subject and craft those stories into a handsomely bound book. Memoir companies also prepare all kinds of other personal stories, from pregnancy memoirs through pet histories.

5) Renovation Management

You already know that trades people are going to have another superlative year as the renovation boom continues. Conversely, this means that many consumers are going to have bad years (or at least extremely stressful, irritating ones) as they struggle to get through whatever renovation they have planned. If you’re a super-organized person who can get the right trades people to show up to work on time and finish their work by set dates, this could be a golden business opportunity for you.