1 Skilled Trades Are in High Demand
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According to the ManpowerGroup's Annual Talent Shortage Survey, the hardest skilled positions for employers to fill have not been engineers, nurses or sales representatives. The number one most difficult people to find are skilled trades workers such as electricians and welders.
The need for skilled tradespeople is expected to become even more acute as more baby boomers hit retirement age and exit the labor force. Trades are disproportionately affected by this phenomena because trades people are on average older than many other segments of the workforce. Enrollment in trades has declined over the past several decades as many young people incorrectly perceive the trades to be poorly paid. They see them as not intellectually stimulating and "beneath them." More than 60 percent of skilled trades workers are 45 or older in some North American locations.
High demand is one reason the skilled trades are ideally suited for those wishing to become self-employed and start their own businesses. Another is that most trades can be operated as home-based businesses because the work is typically performed at the customer job site. A third reason is that startup capital costs for things like vehicles and tools are relatively low for most trades, at least compared to many other types of businesses. Skilled trades cannot be automated to any degree, ensuring future job security. Even in the welding trade, which is automated to a certain extent in manufacturing, there are many types of jobs that cannot be feasibly automated.
Here are some of the best business opportunities in the skilled trades.
The need for skilled tradespeople is expected to become even more acute as more baby boomers hit retirement age and exit the labor force. Trades are disproportionately affected by this phenomena because trades people are on average older than many other segments of the workforce. Enrollment in trades has declined over the past several decades as many young people incorrectly perceive the trades to be poorly paid. They see them as not intellectually stimulating and "beneath them." More than 60 percent of skilled trades workers are 45 or older in some North American locations.
High demand is one reason the skilled trades are ideally suited for those wishing to become self-employed and start their own businesses. Another is that most trades can be operated as home-based businesses because the work is typically performed at the customer job site. A third reason is that startup capital costs for things like vehicles and tools are relatively low for most trades, at least compared to many other types of businesses. Skilled trades cannot be automated to any degree, ensuring future job security. Even in the welding trade, which is automated to a certain extent in manufacturing, there are many types of jobs that cannot be feasibly automated.
Here are some of the best business opportunities in the skilled trades.
