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Some recession proof business ideas providers prefer that their transcriptionists have training from a certified program. Consider shopping estate sales and flea markets for hidden finds at a low cost and then listing them for a profit online. You may be able to collect a substantial inventory of items that are in good shape for very little overhead if you’re diligent enough and search the right places. Many of the best small business ideas involve an online business model. All you need to do is just launch an e-shop, market yourself and engage the audience via social media to resell stuff online. Pandemic business, you’ll just need to create your website, market yourself, and be prepared to suit yourself in the new online world.
- Its users can anonymously report coronavirus-related symptoms and see areas where the next outbreak might be developing.
- The online fitness industry has expanded since everyone is working out from home and using apps and online courses.
- No matter what happens to the planet earth, a drug manufacturing business will never fail–and the COVID-19 pandemic is the perfect example of why that is so.
- As for the gas utility industry, profits rose by 20 percent each year.
- Freelance copywriting is a great business to run because as long as you have an internet connection, you can work.
- Frozen meal firms were able to expect a 4.8% increase in total sales.
If you opt to bill a percentage of the amount saved for your clients with no other fees, there’s zero risk for clients to hire you and it will be easier to secure business. Saving money by outsourcing work overseas doesn’t mean you have to offer a low quality service. There are plenty of highly skilled workers in other countries, but it does take some effort to find the right ones.
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Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. While the pandemic has caused massive disruptions in many industries, others are flourishing under the restrictions.
In light of the pandemic, event planner Ben Rayappan has taken a step back from his true passion during the pandemic and started a chilli plantation business. Read more about Gary’s journey in starting his sambal business during the pandemic here. Gary has to handle everything on his own, from sourcing raw ingredients to dispatching the bottled goods, when he first got started. From 20 sales per week, his sambal business has grown to several hundreds of orders per month after partnering up with FoodPanda. For cabin crews, the closing of international borders means losing their bread and butter. Read more about Ben’s journey in starting this chilli plantation business during the pandemic here.
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Financial services will still be in demand regardless of a recession. In fact, the accounting industry was valued at $544.06 billion in 2020, and the demand for it is still growing. As long as you have a laptop and the right skillset, you can offer freelance services from anywhere in the world. Done right, you’ll get extra income to pay the bills and remain in the workforce. By working from one gig to the next, you’ll also learn new skills and expand your network too.
- Similar to auto mechanic services, people will require utility services throughout recessions.
- If you want to maximize your profit while minimizing your workload, try any of the small business ideas that most frequently prove successful.
- For more than a year now, the economic devastation is still mainly caused by the coronavirus — a health crisis that is still causing deaths and recession around the globe.
Even medical professionals are relying on technology as they advise patients to call rather than visit the hospital. Technology-based at-home services and businesses are also becoming recession-proof enterprises. For a marketing business, the most they’d have to do is realign their services so that they match the restricted budgets of businesses.
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Out of all utilities, investors are the most optimistic about the long-term growth of the renewable energy industry. Revenues for American renewable energy companies have risen by 5.7 percent annually over the past three years alone. And analysts predict the industry to grow by 22 percent over the next five years. In the U.S., the electric utility industry earnings are forecasted to grow by 9.6 percent annually, historically lower than usual.
If you don’t have the resources to accommodate a lot of customers, you can offer these services within your network first. Here’s hoping some of these viable business ideas may resonate with you. It’s alright to start small and sell your services within your network only. Eventually, you’ll be able to attract more clients, earn resources and make your business grow. Learn more ways to build a successful enterprise in our complete guide to starting a business.
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There’s less competition in the market because of a lack of VC funding, which is a great time for bootstrappers who appreciate the full ownership of their company. The app downloads and signups for such apps went up by 61% since the pandemic started. Drizly app is an example of on-demand liquor delivery in the US and Canada, which saw a huge growth curve. The consumer demand for fitness and motivation for both physical and mental wellness reached new heights and will continue to do so post the pandemic. This is where the biggest paradigm shift is going to be and there are so many opportunities in the education sector right now for new business ideas. People who had never ordered anything online before are now exploring online grocery delivery options.
