The Best Businesses to Start in a Bad Economy There are three guidelines for the best businesses to start in a bad economy: Flexibility, Need and Expertise. Let me tell you a story or two to demonstrate. The Story About Flexibility. I have a favorite mail order house. I've used them for years, always with great, great results. About five years ago this mail order house expanded into retail stores throughout the country with over 300 locations. For a year or two business was great. Then came The Great Fall. And they tumbled. They are now in bankruptcy. As one company executive put it, "We lost our flexibility. With mail order, we could scale our operations. We didn't have that flexibility with retail leases." Does that mean that retail is necessarily a bad idea? Not at all. Listen to this tale: The Story About Need. In a fancy mall in southern California I watched a new store build out and open. I just knew that Amy and her crew were doomed. It was a baby store, and they were only a few doors away from another baby store that wasn't doing so hot. But lo and behold, Amy's new baby store really thrived! There were always people in the new store. Amy's secret: She tapped into parent's and grandparent's needs for organic things for a baby. Everything in the new store was organic. And the best businesses to start in a bad economy definitely follow the Golden Rule of Business: Entrepreneur, Know They Stuff! The Story About Expertise. The internet is still a mystery to most independent entrepreneurs, but trust me, if you Know Your Stuff, odds are excellent that you can have a thriving business. Jeff is an accountant who got laid off a couple of years ago. He took his knowledge online, and before long had clients literally all over the country. Modern technology being what it is, this is not difficult any more. Every day thousands of entrepreneurs duplicate Jeff's story and for more help contact us offshore company formation in dubai These guidelines are not limiting. Rather, use them to expand your options. Reach. Grow. Become more than you ever thought possible. Here are a few of the best businesses to start in a bad economy: 1. Nearly anything internet based is an excellent option. There is flexibility, low overhead, and very strong potential income. Some people offer services on the internet, and some offer products, and some provide a mix. And contrary to popular opinion, you don't even need to know HTML coding to have a really nice and successful website! 2. Tutoring. Really capitalize on something you know well, whether it is being a lumberjack or speaking Mandarin in business. There are many thousands of options here, and with the world at your fingertips on the web, anything is possible. 3. Day care for the elderly. This is a hugely growing area, with more and more elderly stepping into the arena daily. This is not necessarily for the really, really old and destitute, but also for the elderly who just need some assistance, perhaps even as a home worker. I know several people who do very well taking care of paperwork for the elderly bank deposits, balancing the check book, paying bills, etc. Or open a day care centre for the elderly. Start with one centre and odds are that it will expand rapidly. 4. Going Green. Organic clothing, green food, organic pet supplies - it is all becoming very, very popular. Be sure your products are certified organic and thousands of outlets open up for you automatically. 5. Home made things. After every financial crisis, people seem to gravitate to homemade things, whether it is quilts or soups or tie dye shirts. If you have the skill, this could be your direction, whether it is one shirt at a time or thousands. The secret to the best businesses to start in a bad economy is to draw upon your own strengths, your own knowledge. Then make it grow into the kind of business that you want it to be.
