The US Small Business Administration Office of Advocacy notes that in 2018, about 30.2 million small businesses exist in America alone. While not every one of them is a niche business, quite a lot of the more recent startups tend to go in that direction.
The low startup cost, combined with the relative ease of marketing, means that there are fewer barriers to enter the market. That being said, if you don’t want to end up fueling the statistic of how many businesses don’t survive their first year, you should carefully choose your niche.
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