In these difficult economic times when people are looking for work or for extra work or a new career, you can still find areas in business that are not being forced to close down or file for bankruptcy.

Popular Areas in Business

Thriving businesses include financial companies (e.g., loan brokerage services), environmentally-friendly companies (e.g., car dealerships with electric or hybrid models), senior-citizen-targeted companies (e.g., home healthcare, assisted living), discount retailers (e.g., Wal-Mart, Dollar Store), health and wellness businesses, and notably enough, the pet care industry. Based on pet spending trends in recent years, the American Pet Products Association estimated that the amount of spending on pet care in the United States will exceed the gross domestic product of all but sixty-four countries in the world! Other popular areas in business are the food-making industry (particularly fast and convenient places) and small businesses. More people are seeking to open their own small businesses.

Pros and Cons of Managing Your Own Business
Advantages

• Earning a high income
• Self-decision making (e.g., where to work, with whom to work, when to work, how much money to make, etc.)
• Amount of money that may be placed into a retirement account
• Satisfaction in making products, solving problems, and marketing goods and services successfully.

Risks

• Great personal financial risk
• Dealing with local, state, and federal laws and authority figures with only a handful of employees to fill out the mountainous amount of paperwork
• Highly competitive markets - with other small businesses or larger corporations

Necessary Skills
Some of the skills required for small business management include:

• Excellent organizational skills (e.g., filing, financial planning, etc.)
• High motivation
• Determination
• Diligence
• Honesty, reliability, trustworthiness
• Efficiency,
• Strong work ethic

It is best to get started in small business management after having a college degree such as a B.B.A or M.B.A. Colleges and universities all across the country offer on-site degrees or online education and degrees.

One of the more well-known schools offering online education and online degrees is the University of Phoenix. It offers MBA degrees with numerous concentrations. The concentration you choose will determine what kind of internship or practical experience you go through (e.g., sport management at NYU may give you an internship with the Knicks front office).

Best Cities for Managing Your Own Business
According to a 2007 Census Bureau survey, the best large cities for launching a small business are listed below:

• klahoma City (1st)
• Pittsburgh
• Raleigh
• Houston
• Hartford
• Washington DC
• Charlotte
• Austin
• New York City
• Baltimore (10th)

Obtain your business degree either on-site or online and then hit one of these cities to start your small business today.

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