When thinking about starting a business it's a good idea to choose one that will weather harsh economic times.
(article continues below)
If you're thinking about becoming an entrepreneur, there a plenty of businesses you can start that will do well in any economy. During a recession people cut back spending and tend to only purchase products and services they feel are necessities. These are the times you want your business to continue to make money. One way to decide on a business to start is to assess what most people have to have in order to live their day to day lives. Here are a few business ideas that fit into this category.
Start A Daycare
A daycare or childcare service is an excellent recession proof business. Parents have to go to work in order to pay bills and provide for their families. If they have children, especially those that aren't school aged yet, they will need someone to care for them while they are at work. If you are good with children and genuinely enjoy being around them, then this might be an option as a business for you. Since childcare is such an important service to provide, it is not cheap by any means. There are many childcare providers that make a six figure income providing this service right from their homes.
Start A Business Cleaning Service
When thinking about recession proof businesses to start, a business cleaning service is a much better choice to go with as opposed to a residential one. People will forgo shelling out money for residential cleaning because their homes are private and can only be seen by them if that's what they choose. If having a few extra dishes in the sink or loads of laundry will save them money in hard times then many will cut this cost. On the other hand, a business building is seen by the public on a daily basis. In order to maintain a good image and make it pleasant for employees, things will have to be clean and in order at a business. This is a service that they will continue to pay for no matter what.
Become A Freelance Writer
If you have a knack for writing then becoming a freelance writer may be a business option for you. Businesses, magazines, and websites will always need content. Depending on what type of writing you choose to do, your income may increase during a recession. This would be true if you became a freelance SEO content writer for business websites. SEO or search engine optimized means a website can be easily found on the internet. During harsh economic times it is more important than ever for businesses to be easily found by customers on the internet and continue to make money. Providing this service is imperative to a lot of businesses survival.
When making the choice to start a recession proof business think about the needs and wants of people and businesses. If you can provide a product or service that people will continue to need and purchase no matter the economic situation, then you have just found a recession proof business. There are many to choose from but it will be smart to start one that you actually enjoy doing. This will ensure that you don't get burnt out.