Wednesday, July 15, 2009

Top-5 Businesses to Start in a Recession

According to a reader poll at YoungEntrepreneur.com, the top-five businesses to start in a recession are these:

  1. An online business
  2. It Doesn’t Matter - Just Love What You’re Doing
  3. Healthcare
  4. Education/Teaching
  5. Video games

As part of the poll, many readers left comments as to why and how they voted. The comments displayed did a great job of explaining why each of the top-five deserved to be there. Here is a summation of many of the comments.

Online businesses are often inexpensive to start-up, business owners don't need to carry a product, it's easier to begin a business with simply what you know, and people can often keep their day jobs.

Loving what you are doing is always a key. Having a passion for your endeavor takes a lot of the "work" feel out, it shows through in everything you do and will result in a great experience for customers or clients.

Healthcare concerns never go away, and they may even increase during tough times. As a result, occupations and businesses providing health care services, weight loss products, health maintenance products, etc. will always do well.

Businesses built around education can thrive in the tough recession environment. This is due, most notably, to out-of-work people looking to find marketable skills for the next job. Someone needs to be there to teach them.

Video games, though not a necessity, will be a means of escape for many people. Setting aside reality, even for a few minutes, can provide much needed relief. Like movie theaters during the Great Depression, the XBox and Nintendo Wii could experience a boom. Plus, people will be staying at home for their entertainment when money gets tight.

If you're looking for business ideas, these five are great places to start.




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