Previously, NuWire analyzed the Top 5 Business Trends that may positively impact some businesses’ potential for profit. Other businesses, however, will struggle to adapt to the trends that are driving a larger economic transition; typically, these are businesses that are adversely affected by factors such as the predominance of the Internet, the weakening of the U.S. dollar or the poor state of the housing market.
NuWire identified and explored five business industries that appear to be on the decline. Entrepreneurs should consider the downward trends inherent in these industries and perhaps choose to invest their time and money in more promising endeavors.
Paper is quickly going out of fashion. It’s expensive and it kills trees—two big taboos for the modern consumer. Furthermore, the Internet, a faster and more convenient platform, is quickly becoming the preferred method for gathering information that would traditionally be captured in print media. Only one in fifty Americans got the news regularly from the internet in 1996; a decade later, nearly one in three Americans regularly received news online, according to the Pew Research Center. Read more....