Businesses providing “need-to-haves” are faring relatively well this year. 

Sageworks released data today looking at the top 30 industries over the past 12 months by sales growth.  The ranking is below along with an outline of the types of privately held businesses that are found in the list. 

Health Care: Of the 30 industries listed, four are related to healthcare.  Home health care services saw sales grow an average 14.49% during the past 12 months.  Medical and diagnostic laboratories saw an average 13.12% growth in sales during the same time period.  The medical equipment and supplies manufacturing industry also experienced sales growth, up an average 12.26 percent.  Outpatient care centers saw an average 11.08% growth in sales over the past 12 months.   These health care industries are still growing, especially as generations such as the baby boomers are getting older.

Petroleum, Coal & Mining: Petroleum Wholesalers (16.31%) and Petroleum & Coal Products Manufacturers (12.97%) are both on the best-performing industries list.  Also, businesses providing support activities for Mining (17.76%) and Metal and Mineral Wholesalers (10.18%) fell in the top 25 industries by sales growth over the last 12 months. 

Waste Services: Businesses providing necessary services have proven to be relatively recession-proof; this may be because many of these services are contracted by cities and towns across the nation.  Remediation and Other Waste Management Services saw average sales growth of 14.85% over the past 12 months and Waste Collection companies saw sales grow by an average of 13.34% in the same period.

Technology & Telecommunications: Software Providers (14.18%), Other Telecommunications businesses (providers of specialized telecommunications applications, such as satellite tracking – 13.49%), and companies providing Computer Systems Design Services (10.77%) all fell in the top 25 industries by sales growth over the past 12 months.  Technology is still moving forward even as the economy slows. 

Agriculture: Farm Product Raw Material Wholesalers (21,7%), Cattle Ranching & Farming (19.45%), and businesses providing Support Activities for Agriculture & Forestry (13.44%) all grew at a healthy rate this year.  This may be attributable to the fact that agriculture-related industries are providing many “need-to-haves”. Crops and commodities are essential as a source of food and raw materials, so as the economy weakens and consumers are more watchful for bargains or scaling back to only things they need, industries involving farming should be some of the last to be affected by the pained economy.

 Accounting: Accounting, Tax Preparation, Bookkeeping and Payroll Services businesses grew at an average of 11.87% over the last 12 months.  With all of the skepticism about the future of banks and businesses, it is no wonder that accounting firms are growing their revenues this year.  An accountant or CPA, who is often a business owner’s closest advisor, is likely to be utilized during the current time to discuss how to manage a business in a tough economy; business owners may seek as much advice as possible to ensure that the bottom line stays above water. 

Tags: accounting, agriculture, economic downturn, Healthcare, industry data, petroleum, private companies, sales growth, technology, top industries, waste

This entry was posted on Thursday, December 18th, 2008 at 6:04 pm and is filed under Privately Held Companies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.