Business Administration 2257 Study Guide - Midterm Guide: Niche Market
23 Mar 2016
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The personal image consultant industry in canada has a relatively low level of regulation. In addition, the canadian government has many resources in place encouraging the growth of small businesses and entrepreneurial ventures. Financing is available through the canadian small business financing loan, the. Canada"s economy is strong; the canadian gdp is estimated to grow at 2. 1% annually over the next 10 years. In the fashion industry, there has been a rise in popularity of men"s fashion over the past decade, allowing the industry grow and thrive. Personal image consulting, in particular will benefit from a falling national unemployment rate and increasing disposable income. (http://clients1. ibisworld. com/reports/ca/industry/default. aspx?entid=1066) Over the next five years, revenue in the industry is expected to grow, although at a slower rate, as consumers shift to lower-cost alternatives to satisfy their personal shopping needs. (http://www. prweb. com/releases/2014/03/prweb11676336. htm) thus the. Canadian men"s fashion industry seems like the most strategic and practical place for a personal image consulting business to thrive.
