Top 10 evergreen businesses that will never fail

Evolution in the field of technology has made it difficult for the traditional industries to survive. Some industries can keep apace whereas others eventually fail to cope up. But there are some industries that are not likely to fade away despite of shuffle and dynamism. Whatever maybe the technological development, the basic necessities of people has remained the same over years. And industries dealing with it are unlikely to fade away as they support our lifestyle and life. Mentioned below are some of the industries which remain evergreen without submitting to the technological development that is taking place.

1. Education

Education comes under one of the rapidly growing industries generating revenues and employment in a large scale. With e-learning, private partnership, demand for foreign education, the traditional schoolhouse has been transformed. This rapid transformation and growth is supported by the middle and upper classes of China and India. With time, this industry is only going to grow without any question of decline. Overall, it is comprised of international studies, secondary and primary education, vocational training, private universities and educational materials.

2. Food

This comes under the basic necessities of life. Food is something that technology cannot take over. The food production/manufacturing industry comprises of production processing, ranching, preparation, preservation and packaging. Not just for products, this particular industry is very diverse for the size of investors and business players involved. People are employed in various sectors such as traditional farming to highly-mechanized units. Until a substitute for food is found (unlikely to be found soon), the demand for food industry stays intact.

Within this section, agriculture is the best option. If you have a plot of land and you’re not planning to reside there anytime soon, put it into agriculture. It’s the best side business which does not require much investment. It is something that technology cannot do on its own and manual labor is required.

3. Media and Entertainment

This industry deals with the distribution and production of commercials, television programs, publishing, games, audio recordings, music and motion pictures. The PricewaterhouseCoopers or PwC published a report mentioning that one-third of global entertainment and media revenues are represented by the US media and entertainment industry. Due to its diversity, creativity and innovation, the industry is only expected to grow more and more in future. Nowadays, people are addicted to keep up with everyday happenings, not only of their country, but also of the whole world. Media and entertainment takes care of that. So the demand of this sector is only getting higher and higher.

4. Healthcare

In developing and developed countries, the main aim of the government is to provide healthcare facilities to all its citizens through various initiatives. Rising incomes, uptick in the chronic diseases, and populations are contributing more in the spurring growth of this industry. Additionally, improvement in this industry uplifted the essence and quality of each life while boosting the life expectancies. With a mix of services and products such as medical devises, nursing homes, hospitals, ambulance services, doctors, laboratories, equipments, healthcare professionals, as well as hospital supplies, this industry is booming.

5. Catering Services

Running your own catering service does not need much. You can run it even from your home. All you need to be is creative, consistent and organized. This industry is thriving since with the increase with population and income, numerous events are coming up. And events calls for the help of catering services. If you enjoy eating and preparing food, this is the most suitable industry or you. If you enjoy what you do, your business will only keep flourishing with time.

6. Pharmaceutical

Over the past few decades, the pharmaceutical industry has witnessed impressive growth and development. Currently, the annual pharmaceutical sales are estimated to be $300 billion and are mostly dominated by Japan, Europe, South America, and North America. With the rapid development in technology and industries, our environment is getting more polluted. With pollution comes a variety of new disease. And pharmaceutical companies remain in demand for creating breakthrough drugs through development and research.

7. Sin Industry

When talking about things that are popular yet bad, this particular industry comprises of tobacco, alcohol and gambling, which is why, it is also called as “Sin industry.” Due to their undesirable costs and social impact, they are a good source for revenue and are being taxed heavily by the government. Despite of imposing heavy taxes on these products, consumption and misuse of these services or products are not curbing. Though it’s risky, but investing in this area is wise. It will continue to survive as old habits die hard. And people are going to keep consuming these products whatever may be the cost.

8. Professional Services

In this sector, high skilled workers are employed in engineering, accounting, architecture, information technology, management consulting, and legal matters. Professional services can be dubbed as a substantial schematic of the GDP with rapidly developing economies. The demand of these services is driven by corporate profits and economic health. Though it might face a slowdown during tough economic times, it will eventually make a comeback.

9. Album Designing and Wedding Card

This business industry can never go out of style or fall into recession. Every couple wants their wedding to be perfect and full of elegance. They will need someone to capture the memories from the D-day. And cards are a must! This newest business industry is exciting and is only going to flourish. One can explore their talents and skills in designing while printing wedding albums or greeting/invitation cards.

10. Solar

Since the rate of electricity supply is touching the sky, establishing a solar energy industry is a good idea. In the current scenario where the electricity bills are high along with air pollution, solar energy proves to be the best option. It costs very less and environment friendly as well. Day by day people are opting for solar energy over the electricity that is supplied by corporations. Earlier producing energy from renewable sources were costlier than the present, so there wasn’t much demand for it. But now, electricity produced from solar energy proves to be cheaper than the electricity produced from conventional sources.