The “Crossroads of the East”, New Jersey is a fantastic state in which to start a new business in 2019. With over 15,000 factories and over one-sixth of the country’s pharmaceuticals manufactured here, healthcare is an especially good industry to get your start in, if you have the experience. However, New Jersey has a lot more to offer than just drugs. If you live in the state and want to start a new enterprise, keep reading for some ideas that are sure to make you money.
As mentioned above, New Jersey is where over one-sixth of the country’s pharmaceuticals are manufactured. While the state is host to some large companies like Johnson & Johnson and Bayer Healthcare, this doesn’t mean there aren’t opportunities for new entrepreneurs. New Jersey’s pharmaceutical growth has been increasing at a dramatic rate since 2011, and research institutions and teaching hospitals are both needed. If you have experience in this industry, it is definitely worth considering.
CBD is one of the largest growing industries throughout the country, in part due to its versatility to treat a variety of ailments. And, what’s more, the legal hemp market is expected to grow to $1.8 billion by the year 2020. Because of this, it can be a great industry to consider getting started in. Whether you are interested in distributing or just supplying CBD products, it’s wise to find a supplier you can trust. Bulk CBD hemp seeds can be purchased online from a company like Cope CBD; this is a good option as you can rest assured they meet the legal guidelines of the country.
Due to New Jersey’s closeness to New York City, it’s an attractive place to launch a financial services company. Chubb and Prudential both have their headquarters in the state, but even smaller firms can start up here for a much lower price than in neighboring New York. Whether you want to start a wealth management company, an advisory service, an insurance and banking brand, or a brokerage, there are plenty of opportunities to get started here, and plenty of clients and customers who would be willing to give you a try.
4. Information Technology
Finally, one last industry that is definitely worth considering is the information technology industry. Over 360,000 people currently work in this industry in New Jersey, and there are lots of options for startup companies, especially if you choose to create an information technology startup that could help serve the manufacturing industry. From computer systems design to software publishing, communications equipment manufacturing to data services, there are lots of different options available to those who want to launch in the state.
Due to its proximity to New York, and the amount of businesses who already have headquarters in the state, New Jersey is a fantastic place to launch a business. Choose an industry that matches your qualifications and jump in. What have you got to lose?