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Old 15th September 2006, 02:32 PM   #1
sannwood
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Default Top 10 Promising Opportunities for 2006 - Help Please?

Over at the Small Business Trends blog you will find a very popular post outlining the top 10 promising opportunities for 2006.

A reader recently left a question there asking about opportunities in the U.S. and specifically Northwest Arkansas.

Here is his question:
Quote:
I currently live in Northwest Arkansas, one of the countries fastest growing areas. We have a rapidly growing mix of people moving to this area, and I am very interested in knowing what new small businesses there are to consider establishing in an area such as this?
What opportunities would you suggest that would be successful in that part of the country?

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Last edited by sannwood; 18th September 2006 at 11:50 AM.
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Old 15th September 2006, 09:16 PM   #2
Anita
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Smile New Business Opportunities

I would like to weigh in with my thoughts for Eddie, who submitted the question.

Eddie, it's great that you are in a fast-growing area. I am firm believer that you can find opportunity anywhere, but if you have the advantage of being in an area that's on fire economically, then it makes it a little easier.

The best sources for identifying local opportunities are:

(1) reading the local newspaper, watching the local news and generally keeping your eyes and ears open;

(2) consulting with your local SCORE chapter or Small Business Development Center (SBDC) office; and

(3) checking with State or local economic development officials. For instance, the state of Arkansas has an economic development website, 1800Arkansas.com, which has lists of helpful resources and market research.

A quick review of the site yields a downloadable Arkansas fact book (PDF) with all kinds of business and demographic information:

http://www.1800arkansas.com/reports_...ctbook2006.pdf

And on this page you will find helpful links for conducting market research:
http://www.1800arkansas.com/data_dem...fm?page=census

Ask around and talk with a lot of people around you in the local area. In those discussions you are bound to uncover some interesting opportunities -- or at least confirm or validate some of the opportunities listed in the blog post referenced.

Good luck,
Anita

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