As we enter a new year of financial uncertainty, many savvy entrepreneurs are starting to think about recession proof business models that have a higher chance of making it through good times and bad.
Many ‘traditional’ business ideas have not proved too successful during the recession. For those small ventures not making money, there is however a glimmer of hope on the horizon.
Recession proof companies and ventures are those that are able to thrive in any economy, providing services or products that are always in demand, to ensure a sustainable income even in the darkest of days.
Recession Proof Businesses You May Not Have Considered
If you are hoping to start a lasting business that will see you through for the long run, try one of these ideas for rewarding, self-sufficient recession proof businesses that you can run from home.
1. Internet Marketing
As internet accessibility and reach grows, there are more opportunities for business than ever before. There are many ways that you can use your internet to start a little business – especially if operating as an independent.
Educate yourself with a course in web traffic optimisation, and find out how you can make income by doing something that you enjoy, such as starting a cooking blog, or a fashion advice website.
Many small to medium sized businesses turn to freelance specialists to help them improve rankings and sales during a poor economy, making it a win-win situation for you if you are able to provide these services.
2. Medical Billing
Medical and healthcare professionals such as doctors, dentists, therapists and even homeopaths are also feeling the pinch of the recession – especially those with smaller private practices they are working from their homes.
Medical billing aims to help these professionals with basic admin tasks such as invoicing and receipts, without having a full-time employee onsite to deal with these tasks. You can easily do this from home, working with a selection of private practices to help them get their bills out to patients on time.
3. Property Staging
Have a good eye for detail and décor? You could take advantage of the property market fluctuations that happen in a recession by starting your own property staging business. The costs are low, and the work is fun too, making it ideal for part-time work.
What property stagers do is help prepare a house that is being sold for the market. This means showing sellers how to arrange things within the property so that the home has a better chance of selling.
Standing out from the competition is crucial during a down economy, and in the very competitive real estate market, a well-staged property has a distinct advantage. You could work with real estate agents or find independent sellers to start with in this potential career.
4. eBay Trading Assistance
Another idea for possible recession proof business is eBay Trading Assistance. These assistants work with traders to help them market their products more effectively on sites such as eBay. From taking good photos, to setting up the sale, the assistant can then earn a commission on successful sales.
The number of people looking for ways to make extra funds on the side grows during tough economic times, and website sales have become very popular with a broad range of sellers and buyers.
If you have the know-how and skills to assist people in improving their sales, put those skills to use by becoming an online trading assistant – a move that will prove rewarding whatever the financial climate.
5. Virtual Assistance
Self-starters that are good with admin and have keen organizational skills can even consider becoming a Virtual Assistant. This is becoming popular around the world – for those in need of such services and for those who have the abilities to offer them.
As companies struggle to keep down costs, some may be forced to retrench staff in less crucial roles, such as administration. Outsourcing this role offers a cost-effective option for many companies, and for someone who has the skills to assist, there are great business opportunities also to be found.
Start off with one client, and once you have worked up enough experience, you can slowly start to add more clients to your budding virtual admin business.
What Else To Know About Recession Proof Business Ideas
There are many great home business ideas out there once you know what to look for – rather than trying to find obvious ideas however, start thinking out of the box.
The most successful businesses were born in tough times, and many began as a result of a poor economy. By constantly looking for opportunities, you are sure to find just the right idea for a recession proof business.