Fastest Growing Small Businesses in Los Angeles 2016

Fastest Growing Small Businesses in Los Angeles 2016

The rate at which businesses startups are growing in Los Angeles has led it to be recognized as a hub for businesses. With impressive margins of between 116.2 and 8.6 million dollars; startups in this region have given their precursors in Silicon valley a run for their money. Consequently, when searching for the best small business in Los Angeles, results are inclusive of both big names and new businesses. Apart from the tech startups that are leading in the small business growth trends 2016, businesses in the following industries are known to have grown exponentially in all of America.

Consumer products and services

With businesses like Loot Crate giving innovative products and services to their customers, this industry has registered revenues of over half a million dollars. Loot crate is the top small business 2016 has seen in the business of fandom with an impressive 116.2 million dollars in revenue by the end of the year 2015.

Business products and services

Companies providing solutions to businesses in this category are ranked among the top growing enterprises for this year. ranked five in the list made by and reported a revenue of 33.3 million dollars with a growth of over 20,000 percent in a period of the three years under study.

IT Services

Globalization Partners Group leads in this industry recording a growth of over sixteen thousand percent in the years 2014 to 2016. They provide services aimed at reducing the cost and risk that could result from their business clients expanding globally. Revenues in this category are between seventeen and eight million dollars for the highest-ranking companies in the cited list.

For prospective business owners, it is prudent to explore any of the above niches as they have proven success.