Start a Business on the Cheap: 10 Growth Industries

5 of 11

Projected five-year annual growth rate: 2%
Snap! Thanks to advancements in digital cameras and post-production technology, you no longer need a studio and expensive equipment to start a photography business. But competition is stiff in the $9 billion industry, according to Jack Plunkett, CEO of Plunkett Research, a business intelligence firm that studies trends affecting industries. "Your best bet for a decent income is to specialize in weddings, children or family events, or pets," Plunkett says.