In an article on CNN Money, author Ben Rooney wrote that the nation’s service sector expanded this past September for the first time in more than a year. It is a known fact that the services sector makes up nearly 80% of the economic activity in the United States.
If looking at the big picture, a good reason for that is the fact that barrier to entry is fairly low. If you have a skill or knowledge that an individual or company sees value in it, then you have a service you can provide. With that being said, while the service sector may be growing, how many strong positioned, truly branded companies are being created?
From the article, you can see the slight jump in the non-manufacturing index:
The Institute for Supply Management’s non-manufacturing index rose to 50.9 last month from 48.4 in August. Economists surveyed by Briefing.com had expected a reading of 50, which is the point at which the index reflects expansion.
It was the second consecutive month of improvement in the index, which last indicated expansion in August 2008.
With that being said, the employment index is still very weak, indicating that the labor market needs to improve in order to show stronger signs of recovery. You can read the article in its entirety at CNN Money.
On A Lighter Note
On the bright side, opportunities exist everywhere. In a down economy, when everything is scrutinized and carefully monitored, is the best time to keep your eyes open and to see gaps in systems, gaps in products, gaps wherever. Most likely when you see a gap, you have a solution in mind. If that is the case, test the market out, see if your solution to the gap really adds value. You never know when your ideas can spark a new venture.
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