With nearly every US business performing a background check on each candidate before hiring, there is potential for growth in the background check business. Those who are interested in beginning a business in the background screening industry should first decide if the business is the right choice for them before honing the idea. The next steps include coming up with a business name and plan and registering the business for taxes. Applying for licenses and permits, opening a business bank account, and obtaining business insurance are also important steps in the process. As a point of reference, the background screening industry was worth $2.8 billion in 2021 and steady growth has continued, with a projected growth rate of at least 9 percent annually through 2028.
