For Potential Service and Consulting Opportunities, Consider BLS Employment Projections

analyzing statistics and projections of opportunities

The U.S. Bureau of Labor Statistics provides a wealth of research that could be relevant as you’re considering the if, when, and where of starting a consulting or service business.

A video on the Employment Projections page (with a groovy audio track…who knew?) summarizes the job fields that are expected to grow the most quickly from 2022 to 2032. As a few noteworthy data points:

Data scientists, statisticians, and information security analysts rank among the top 5 fastest-growing fields (by percentage).
Home health and personal care aides and software developers are expected to see the greatest number of new jobs.
Of fields requiring a bachelor’s degree, nurse practitioner is projected to experience the greatest growth, at 45%.

Healthcare and technology figure prominently in these employment projections. Where there is job growth, there is probably also potential for consulting and service providers. Some companies that have needs to fill will look to contracting with third-party providers rather than bringing on more employees.

As a recommendation, spend a few minutes reviewing the range of reports on BLS website; some could be relevant for the business that you’re considering. You can also sign up for the BLS email list and specify the types of updates that you’d like to receive.

As you’re considering an entrepreneurial journey, take advantage of the BLS data as one guidepost.

Feras Alhlou

Feras has founded, grown, and sold businesses in Silicon Valley and abroad, scaling them from zero revenue to 7 and 8 figures. In 2019, he sold e-Nor, a digital marketing consulting company, to dentsu (a top-5 global media company). Feras has served as an advisor to 150+ other new startup businesses, and in his current venture, Start Up With Feras, he's on a mission to help entrepreneurs in the consulting and services space start and grow their businesses smarter and stronger.