Small Businesses That Can Thrive Even During an Economic Slowdown – Recommendations by Gary Saitowitz
Convention wisdom would say that a period of economic recession or uncertainty is not the best of times to turn entrepreneur. However, if you take a close look, many businesses have the potential to flourish when the times turn difficult. These counter-cyclical businesses have a sustained demand even during bad times and can take off when the economy recovers. Some typical examples of recession-proof business ventures:
Even if businesses may during a recession, they still need to maintain proper books of accounts as well as pay their taxes. Even a business cannot keep its accountants on its rolls any longer, it will still need to engage independent account service providers to do the necessary jobs as well as provide advice regarding complicated financial transactions. When the yearly accounts need to be finalized, and the tax paid, most businesses have no other option but to hire accounting service providers.
Debt Collection Services Can Be Lucrative, Says Gary Saitowitz
When the economy takes a nosedive, there is often a severe impact on the earnings of people. They often have no other option but to default on their personal loans, car loans, credit card dues, and even mortgages. Lenders and credit card companies are forced to turn over the debts to a debt collection agency that is tasked to recover the dues or repossess assets offered as collateral. Since the effects of an economic recession may last for years after it ends, setting up a debt collection agency can be quite lucrative.
A recession, unfortunately, results in a large number of jobs being lost. When a large number of people apply for a limited number of jobs, the difference between getting an interview call and rejection is often a stand-out resume. Resume writing calls for skilled crafting of the facts customized to the employer’s requirements and is not a skill that everyone has. Entrusting the task to a professional resume writing agency can often get you the breakthrough you need and is well worth every penny of the fees they charge for it, observes Gary Saitowitz.
When you do not have the time to repair and renovate your home personally to make it appear more attractive before putting it on the market, you should call in a home staging company. The company will take care of doing everything necessary to clean, repair, and refurbish your home so that prospective buyers will tend to fall in love with it immediately. According to https://money.cnn.com, by staging your home properly, the sale can be speeded up, and you can often get a better price too. Engaging a home staging company is even more important during a recession because the demand is less, while the availability of properties is more with people trying to liquidate their assets in a bid to survive.
Economic slowdowns can be very difficult for both people and businesses, however, hidden within the threat are opportunities that you can take advantage of if you are discerning enough. There are plenty of businesses that are not only recession-proof but tend to do better when the economy is down. You need to find an opportunity and match your talents to it to be successful.