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Future of small business: How to succeed in three of America’s fastest growing industries

For all the dreamers out there—from career-minded students to venture-seeking entrepreneurs—we bring good news. Long-term employment projections predict double-digit growth in a diverse group of industries that have one thing in common: they are essential to our everyday lives.

According to the U.S. Bureau of Labor Statistics (BLS), the businesses that will create the most jobs over the next eight years are those that feed us, connect us, and care for us. We are talking about health care workers, software developers and—despite the impact of COVID-19—some food service professions, including chefs. Food for thought if you are one of the growing number of people wanting to start a business of your own.

Up to 3.3 million new jobs

It is no coincidence that these industries have also found themselves on the front line of the COVID-19 pandemic. But even after taking the potential impact of the pandemic into account, the BLS predicts there will be more than 2.6 million of these jobs created by 2029—primarily in software development and health care. At the upper end of the projection, it could be more than 3.3 million.

Graphic: Top 5 occupations with the most employment growth, 2019-2020.

What does the future hold for small businesses?

To find out how these three industries have been affected by the pandemic, and how new or emerging businesses can achieve long-term success, QuickBooks surveyed 400 professionals from each industry. We then took our findings to a panel of experts to explore some of the issues they raised in more detail. Read on to see what we learned.

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