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Times are getting tougher, and the economy is hardly growing. Consequently, the need to secure a reliable source of income cannot be overstated. More people are, therefore, looking towards entrepreneurship. Philadelphia is located midway between Washington DC and New York, strategically placed on the East Coast. It is, therefore, at the center of a dynamic and thriving expanse with an estimated population of 6.1 million people.

According to the Philadelphia government department for commerce and business attraction, the city’s economy is diversely anchored providing opportunities to various set of industries from healthcare and life sciences to professional services and advanced manufacturing. The prevailing economic conditions in the city make Philadelphia a good market for every entrepreneur. The following are a few profitable business ventures that the region lacks.Upcoming Business Opportunities in the Philadelphia Area

 

Property Investment

The Philadelphia agency for commerce estimates the state’s population at over 6.1 million, not only making it the third largest residential town in the country but also the nation’s fifth largest city. Interested entrepreneurs, therefore, may opt to tap into this resource and invest in the real estate service industry by building homes, office complexes, apartments, and other real properties. Moreover, in comparison to other cities in the northeast region, the relatively low Class A office rental rates in Philadelphia make it an excellent hub for real property investment. Furthermore, the city enjoys considerably lower labor costs making it a sound financial choice for real estate business.

 

e-Cigarette Merchant

For most people trying to quit the smoking habit, electronic cigarettes can be one of the best alternatives to the way they intake nicotine. An e-cigarette is a handheld device that can vaporize a flavored liquid. The user should inhale the vapor. The vape juices in the e-cigarette are made of a wide range of ingredients including nicotine, glycerin, and propylene glycol. Merchandising e-cigarettes, especially in Philadelphia, comes with the promise of a reliable market. Given their value in nicotine and tobacco intake reduction, more habitual smokers prefer it to the conventional cigarette. Moreover, the Philadelphia state government has helped develop a diverse manufacturing industry. Manufacturers in the city enjoy a rich manufacturing heritage evidenced by the low tax and power rates. Given the above conditions for business, e-cigarette merchants may also opt to set up a manufacturing plant in the city and still achieve success.

 

Credit Facility

Entrepreneurs have the option of starting a credit facility to cater for people especially those in need of quick emergency credit. The recent revisions to the Philadelphia state finance and tax regulations have made the commerce climate for investment companies more appealing. Starting a credit facility like a pawn shop within the city can be earmarked as a potentially viable business venture.

 

Life Sciences Industry

The Philadelphia region has a very strong life science industry. The study of life builds its concentration around gene therapy, medical technology, pharmaceuticals, health information technology, and diagnostics. This ever-expanding life science sector has brought forth the need to have more clinics, pharmacies, and other healthcare facilities. Moreover, entrepreneurs may also elect to delve into the logistics and distribution industry as a result of the growing industry. Philadelphia enjoys a sophisticated transportation network for the pharmaceuticals.

Philadelphia invites enterprises to explore the many advantages of investing there. Through partnerships with key associates such as World Trade Center and the State of Pennsylvania the city of Philadelphia can provide comprehensive assistance to interested entrepreneurs. Philadelphia takes charge of helping entrepreneurs identify:

-Trade leads

-Business opportunities

-Best markets and networks

-Best financial incentives

 

In light of the aforementioned market conditions in the city and support from the local and state governments, close to any business venture will promise adequate rates of return. The opportunities mentioned above, however, offer much-reduced risk on investment in comparison to other investments.

Lee Flynn is from the Wasatch Mountains near Salt Lake City, UT. After Lee spent years preparing himself, his home and his family, he decided he had to do more. In his free time, Lee helps educate those who want to do the same. Through small local workshops and articles, Lee trains and teaches others on home preparation, food storage techniques, wilderness survival and self reliance. After obtaining a bachelors degree from the University of Utah, Lee moved to the Salt Lake Valley where he now lives with his wife and daughter.

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