What would be a good type of business to start during this recession?
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My husband and I have about £10,000 savings and are wanting to start our own business. Would types of businesses are doing well in this recession, and what would you recommend?
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Answer:
The banks have many repossessed houses they need to sell. these need to be prepared for showing. Likewise apartment owners who lose renters at the end of a lease have apartments to put in order. I think you can make some money cleaning out the junk left behind, and perhaps painting a few rooms. Suggest you contact banks, real estate salesmen, and apartment complexes and offer your services. I'll be happy with a 2% commission on what you make ;-)
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Other answers
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Jacob L
Good for you for not being afraid to start a business during these times! Many major companies were started during recessions, but people tend to be afraid to do anything because they are too busy looking at the negative aspects of the economy. However, there are tremendous opportunities during a recession. Here's what I would suggest as options: 1)find something that you think you could provide better, for less, or both. - Whether it is a product or service, people are looking for value right now. If you can provide something that people need and provide it for less than others currently are, you have the start of a great opportunity. 2)network marketing - people are looking for a plan B right now, so network marketing is growing in popularity and will continue to as people need to realize their jobs are not secure. make sure you do your research on the company before starting with one. 3)real estate. - if you have some money to invest, real estate is a great opportunity right now. You can buy property for huge discounts. If you are going to do this, make sure you invest in your education. You need to know what you are doing to make sure you don't lose your investment, but it is a huge opportunity right now so don't let that scare you away. Partner up with real estate professionals that are knowledgeable and experienced in investment real estate. I hope this helps. Good luck in your endeavors!
Ben
Any business that taps into employee placement services (resume writing, career coaching, etc...) you would need experience or to hire people with experience in these areas, but these sort of businesses are doing well right now. Also collection agencies and repossession companies thrive in hard times. I hate to point out jobs that seem take advantage of others loss, but that's essentially what you're looking for... A recession is a recession and more respected small businesses are going to be struggling from day one in these tough times.
Jdeats
Recession or not, what matters most comes from one of two directions. On the one hand, what sells well right now? On the other hand, what could or should sell but isn't being offered in your area? If something is sought after, even clamored for, can you think of ways to offer it better or cheaper than what the existing businesses do? This is where you make a tour of the stores and shops and see what works in your area, then try to imagine doing that but better, faster, cheaper, or in some advantageous way. If you can think of something that is sold elsewhere and should be but isn't sold where you are, then discover what it would take to offer it in your area. So if people are buying, what would make them want to buy from you? If people elsewhere are buying stuff that isn't offered in your community, what would you have to do to sell it where you are?
Rabbit
I understand healthcare is a growing field. I'm not sure what kind of business you could start with that. Maybe a niche information site on health? I do know that this kind of business can do well when done right.
Red Deb
4 thing people need in boom or bust. Food, Shelter, Clothing and Medicine. Find a nitch in one of those that isn't being filled.
ranger_co_1_75
Education. People are less busy at work or are unemployed so they go back to school.
kang1972ad
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