Authored by Rodney Southern in Small Business
Published on 01-14-2009
In times of economic trouble people’s minds turn to recession proof small businesses as career ideas There are some recession proof small businesses that have been time-tested and are good ideas as startups even when the rest of the economy is tanking. Some of them are possible career choices for a self-starting individual with little capital, while others are more involved.
The first type of recession proof small businesses are businesses that directly deal with the poor economy. Businesses that would fall into this category include: consumer credit counseling services; companies that repair credit; headhunters, temp agencies or other types of employment agencies; companies that train people with new skills; and companies that refer people to aid agencies or organizations.
Another type of recession proof small businesses are businesses that deal with true necessities of life. In spite of the poor economy, people still need food, clothing, shelter, transportation, fuel and health care. Solid companies in these sectors should continue to be recession proof small businesses in spite of a poor economy.
Still more recession proof small businesses are those that serve as distractions from the poor economy and the miseries it causes. Sales of candy, tobacco, alcohol, pornography and lottery tickets rise exponentially during a recession, but some other categories that may surprise you include cosmetics, entertainment and craft supplies. People are always looking for a way to get their mind off bad times and all of these industries provide distraction.
Rather than distraction, though, other people are looking for reassurance during hard times and businesses that proffer it are definitely recession proof small businesses. Examples include psychic readers and healers, life coaches and mental health counselors.
Another group of recession proof small businesses are service businesses that deal with repairs. During tough times people are much less likely to purchase big ticket items so instead of buying a new car or a new washing machine they’re more likely to spend a couple of hundred dollars hiring someone to fix it. If you have repair or handyman skills now is a great time to go into business for yourself.
One more way of finding recession proof small businesses is to offer services to people in another country where the economy is doing well. With the Internet there’s a huge rise in trade of services, and it’s not that uncommon for a person in, say, California, to be working for someone in India or vice versa. There are many job postings on the Internet that turn out to be part of the virtual service industry, and they run the gamut from personal assistant to copywriter to programmer to customer service representative. If you have any skill, chances are someone in the world needs it, so why not turn it into a business and offer your services as an independent contractor to people elsewhere who are not suffering from a sluggish economy?