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Tony Manto
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Hi Murchie, yes I too was made redundant about two years ago and now i run my own consulting business where I help small business owners to grow.

You ask the question what business its needed in your area. Unfortunately it doesn’t work that way.

You need to decide on an market segment you are passionate about and check out what your competition is doing. Then come up with a service that is better than they are.

It might pay to make a list of all the services you think you could offer, then look up businesses in that market. See how many there are and see if you think you could provide a module that would stand out.

You can also do some reverse marketing. See how many businesses are in each market, then look at the population in your reachable demographics and divide the number of people by the number of businesses and you might get a rough idea of how big is your total reachable market. Once you do that you can make an assumption that 10% might and I mean might be prospects.

Anyhow that is just a guide line to try and find out what market to get into.

Some good business magazines might have some information on whats hot. You call also talk to a business broker or an accountant.