Minimum wage increases
As of January 1st, the minimum wage of 19 states increased.
An increase in wages means people have more income to spend. This could be a
good time to start offering some housing that is affordable to these people but
a little nicer than the rock bottom housing they could probably afford before.
I found this opportunity by searching for regulatory changes
on google. I think this opportunity might exist because people who have more
money buy more stuff. The customer for this opportunity is the person who’s
salary just increased. It would be difficult to exploit this opportunity
because getting into real estate requires a lot of money.
I think that I formed this particular belief because my mom
works in real estate and rentals so it is a familiar area.
Gas prices decrease
Recently gas prices have been decreasing. Because of those
people are willing to drive vehicles that have low mpg. I think there’s an
opportunity right now to sell some large fuel inefficient vehicles right now. I
don’t think this is completely ethical because it is bad for the environment,
however, I’m pretty sure the opportunity exists.
I found this opportunity by searching the Internet for
economic trends. I think the customer for this opportunity is probably a person
who isn’t very concerned with the environment and likes big vehicles. I think
that this opportunity would be difficult to exploit for me because I have
neither the knowledge or resources to open the car dealership. I believe that I
saw this opportunity because I am aware of gas prices.
General data protection regulations
General data protection regulations are being implemented in
the EU and the US could be next. There could be an opportunity here to create
software that allows small businesses to be able to protect the information of
their clients without needing to understand all the tech stuff that goes into
doing that.
I found this opportunity on businessnewsdaily.com in an article
about new regulations. I think this opportunity might exist because many people
with small businesses would like to protect their clients information but lack
the knowledge on how to do so. The customer for this opportunity would most
likely be small independent businesses who are interested in cyber security.
This opportunity would be pretty difficult to exploit because it Would require
me to have a background in Cyber security that I don’t have. I think I am aware
of this opportunity because I listen to a lot of NPR and they talk about cyber
security often.
GDP growth
The US economy is growing slowly but steadily. I think this
presents a really good opportunity to start a new business in general.
I found this opportunity on the financial times website. I
believe an opportunity exists here because the US economy is doing really well.
We have recovered from the recession and the economy is growing. I think this
opportunity is for anyone who has the drive to become an entrepreneur.
Depending on what sort of business one might want to start it could be either
easy or hard to bring into fruition. I think that I saw this opportunity
because it’s fairly obvious and a lot of people see this opportunity as well
and are starting businesses.
Hi Emma, thank you for your post. I was interested to see that a lot of the economic and regulatory trends that you picked to write about were the same topics that I was interested in writing about. I think that a higher minimum wage is a complex issue that has large implications on the economy. Hopefully, higher wage prices will not discourage entrepreneurs from hiring new employees into their businesses. This problem, however, opens itself up to entrepreneurs that look to solve issues in the recruiting industry.
ReplyDeleteLots of great topics here. Great post. I sometimes hear people talk about how they don't care about gas prices, and I can't believe my ears. I monitor gas prices daily mainly because there are so many gas stations on the way to/from to work. I also agree with your opportunity to sell vehicles that aren't that great on fuel, because it is less of a budget item when prices are low. A few years back when gas was over $5.00/gal, fuel would've been (and was) a much bigger item on the budget. Entrepreneurs strike while the market is hot, and the market was stronger back then on smaller, more efficient vehicles. Seems cyclical.
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