6A- Identifying Opportunities in Economic and Regulatory Trends

1. Economic trend- there is a labor shortage.

https://www.nytimes.com/2018/09/07/upshot/jobs-report-economy-needs-workers.html?rref=collection%2Ftimestopic%2FEconomic%20Conditions%20and%20Trends&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=7&pgtype=collection

 I believe that an opportunity might exist within this economic trend because more workers are needed. There is definitely a need, so an opportunity to meet it should exist. There is an opportunity to employ more people, or find more efficient ways of production that require less people. This could be in the form of hiring more workers, using new machines, or new methods of doing jobs with less workers.

I think the customer of a new machine or production method would be the big businesses or manufacturers seeking to hire more workers. The customer could also be smaller, local businesses with the same problem of a shortage of labor.

I think this opportunity is relatively difficult to exploit because it has a lot of different important and complex factors. Filling a labor shortage is difficult, and it would require a large business or even the government to reallocate funding or make new laws to meet the need at hand.

I saw this opportunity because there is clearly a need for more workers. I think I noticed this because I always hear about the unemployment rate, and this article about the economy needing more workers really stood out to me. I think there is a possibility of mobilizing people who are able to fill in the gaps, or find a way around the shortage by using new methods or better machines.

2. Economic trend- increase in demand for construction after natural disasters

https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends

The past couple of years, natural disasters have caused a huge amount of damage across the country. I believe there is an opportunity for construction and other industries to fix the damage these storms have caused. When the majority of buildings are destroyed, the need for construction workers, roofers, plumbers, etc increases significantly. This is an economic trend because the storms have increased a demand for a certain service.

I think the customer in this case would be those whose property has been affected by a natural disaster. The customer is someone whose home or business flooded, roof collapsed, or any kind of damage.

I think this opportunity is relatively easy to exploit for existing construction, roofing, plumbing businesses. They would be able to go into areas that were damaged after the storm and begin selling their services to the people who need them. The other thing about this service in particular is that people want the damaged fixed as quickly as possible.

I see this opportunity for building repair after natural disasters because I was born and raised in Florida, and I have seen the damage that hurricanes can do. I have seen flooded streets and homes without roofs, so I know that there is a huge need for these kinds of services.

3. Regulatory trend- states are approving new energy regulations to move towards more renewable, cleaner energy

https://www.greentechmedia.com/articles/read/top-10-utility-regulation-trends-of-2018-so-far#gs.21b6HcE

I believe an opportunity exists here because states are starting to implement regulations that increase renewable energy sources. There is an opportunity for more renewable energy such as solar panels to become more widespread. States are also working to decrease coal mining, which opens up new opportunities for renewable energy to replace the coal market. I think the most likely customer would be individuals who are concerned about the environment, but also states themselves and larger businesses. Since coal is being retired, businesses will have to look for other energy sources. This opportunity is relatively easy to exploit for already established renewable energy companies, but not necessarily for individuals. This would be a very difficult market to enter as an individual. However, companies that already produce solar panels may be able to fill the place of the coal industry.

I see the opportunity because I have heard about the benefits of renewable energy, especially solar panels since I live in Florida. I care about the environment, and I believe regulatory trends that promote renewable energy could be positive.

4. Regulatory change- California legalizing marijuana  

https://www.cheatsheet.com/culture/every-major-new-law-2018-goes-effect-january-1.html/

I believe there is an opportunity here because the legalization of marijuana opens up a new market. There is an opportunity for people to sell it, buy it, and regulate it. It will reduce the amount of people imprisoned for matters related to marijuana as well.

I think the most likely consumer would be a young adult or just the average person. The opportunity is relatively difficult to exploit because there will be new laws surrounding the production and selling of the product. Since this is a new law, it would take existing capital to start up a business. I think there are many opportunities with this new regulation to create new businesses and jobs.

I saw this opportunity because there has been a lot of talk about the legalization of marijuana in the news for the past couple of months. I have heard about the pros and cons of this decision. Whether people agree with the decision politically or not, it does open up a new market and create an opportunity for entrepreneurs.