New hottest business trends

Entrepreneurs might wish to build a new business to capitalize on these trends, or figure out ways to incorporate one or more of them into an established business. In either case, knowledge of business trends can help successful business owners continue to do what they’ve always done: evaluate and adapt.

1. Health and Wellness: quality of life trend shows no sign of slow down since it's early infancy during the 80's fitness movement. This trend is the convergence of rising health care costs in all developed countries, the aging of the baby boomer, the desire to keep our youth, and growing life expectancy.

2. Youth Market:
A quick, trend-spotting technique is to take a stroll to your local magazine rack.Computer & business magazines, Muscle Magazine and Muscle & Fitness as the teenage bodybuilding markets have grown, so has the advertising. Opportunities: Serving the teen auto aftermarket with customization should be hot. Youth sport supplements should continue growing but with fierce competition. Look for avenues in fitness mixed with extreme attitudes.

3. Green Power: The environment trend has been around and been a struggle for many companies, such as automakers with electric cars trying to capitalize on the green awareness.

4. Outsourcing
Most people are already familiar with the concept of business process outsourcing (BPO), such as the outsourcing of large company call centers overseas. As the outsourcing trend continues to grow, some companies are beginning to utilize the foreign workforce in higher-skilled trades though knowledge process outsourcing (KPO), according to an article in famous Time magazine published a couple of weeks ago.

5. Exporting
The dollar has weakened after a record trade deficit of $847 billion in 2007, according to the CIA World Factbook.As foreign economies capitalize on the lowered costs of U.S. exports, demand for American goods will likely be compounded by the rise of middle- and upper-classes in emergent economies, such as China and Russia.

6. Senior living
The first wave of baby boomers will begin to hit retirement age in 2011, opening a new generational chapter with tremendous impact on Canadians and global economies.
Baby boomers with “empty nests” are already making a significant dent in the housing market by moving into smaller residences, such as one-story homes or condominiums in Florida, Arizona. A significant portion of baby boomers are also inclined to move into seasonal or vacation properties as their primary residence upon retirement.

7. Global tourism
As a result of increased global awareness, travel to foreign countries has become a mainstream phenomenon. Although the cost of living in Canada has risen significantly with high fuel prices and a weakened dollar, Canadians are still taking vacations—on a budget. some travel has shifted to less expensive countries, such as Portugal, East Europe, Latinamerica where the dollar goes further.

8. Internet-related business
Purely web-based businesses have an unusual potential for profit by cutting back on traditional expenditures such as such as storefront leases, maintenance and round-the-clock staffing. Business owners who sell goods can avoid the costs of hosting their own website by posting items on known internet platforms such as eBay and Amazon, which garner hundreds of millions visits each month. For traditional business owners, selling products on the Internet can also provide a supplementary stream of income.