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In this article, we will present 12 recession-proof businesses that you can easily start that have a chance to thrive in a down economy. 1. Auto Repair and …
Here are we listed 50 businesses that do well in a recession: 1. Big Oil 2. Utilities Power 3. Food Retailers 4. Gas Stations 5. Phone Companies 6. Insurance 7. Health Care 8. …
Not surprisingly, grocery stores are the best business in a down economy. People always need to eat, and during a recession, they typically also cut back on eating out in restaurants and …
You may typically give clients 30 or 60 days to pay off their balance, but you may want to speed up those payments to make sure you can …
If you want to turn an economic downturn into an opportunity for growth, here's how to pivot your strategy to generate more revenue. Maintain a …
In a downturn, many companies pull back on formal market research, only to go back to traditional tools like focus groups and robust market surveys when finances pick up again. Instead, you can...
Auto Repair and Maintenance. In tough economic times, people are less likely to purchase a new car. Instead, they'll repair their old car. Auto repair and maintenance shops …
3 Affiliate Marketing. According to Statista, affiliate marketing spending in the UUSalone will reach $8.2 billion by 2022. According to Rakuten’s Forrester report, 81% of advertisers and 84% of publishers use affiliate …
One strategy to avoid layoffs is to re-negotiate the terms of compensation for employees, for example, you could reduce base salary with a higher commission structure. …
Economic downturns naturally mean resource scarcity. The chief financial officer and finance organization at your company will likely create a tight box around company investment by making sure...
3) Don’t stop promoting yourself – just do it wisely: It’s amazing how many people in business panic when there’s a downturn in the economy and cancel their advertising and …
The opportunity is to use this time to think about how you might digitize and use technology and automation to make your business leaner and more efficient. 3. Evaluate Your …
3 minutes read. Entrepreneurs are often reluctant to spend money to make acquisitions, expand capacity or open new markets during an economic downturn. However, downturns can be an …
2. Plan for different scenarios. The future is never certain, but you can prepare for uncertainty with scenario planning. Try to consider different visions for the future of your …
Consumers tend to cut back spending on luxury items and other non-essentials, putting businesses that produce and sell those goods in more serious jeopardy. Still, almost every …
Therein lies the wisdom of creating a contingency plan to (a) mitigate the financial impact of a severe economic downturn on earnings and share price, and (b) position the …
This can free up staff to do more profitable activities. 4. Refinance Debt Interest rates are at all-time lows, although lenders may be hesitant in this market to invest in …
The economy is growing—for now. But good times are the ideal time to contemplate a plan for when a downturn occurs so that you and your business can thrive even in a bad economy. Here …
One example is tech startups, particularly options that are designed to help individuals or businesses save money or do things more efficiently. Take Advantage of Low Costs If the …
On the contrary, this is the time wherein you need to strengthen your marketing efforts. • Assert yourself on consumers largely affected by the recession by offering better …
Here are five strategies for identifying how a recession might impact your business and how to handle it. 1. Assess your business’s health In the months leading up to a recession, consumer …
Make long-term plans. Many of the decisions you'll make during a recession will be focused on the short-term, helping your business survive the month. But it's also important to …
How Businesses Should Respond To The Economic Downturn. As businesses report a slowdown in sales, a weakening in their financial position, a series of corporate restructuring and job …
The Virtual Assistant may serve as an administrative assistant to executives, CEO's, entrepreneurs, or entire businesses. The communication is done online and on the telephone. …
In an economic downturn, you’ll want to make sure you have as many potential customers as possible. For example, a carpenter who also offers workshops for owners who …
Analysts predict that COVID-19 will cause a bigger recession than what followed on from the 2008 global financial crisis. Many companies who had grand plans for expansion …
When an economic downturn hits, the immediate reaction for most businesses is to do something – anything – as quickly as they can. Usually, that means slashing budgets …
Revenue in 2019: $58.8 billion. The nation suffered one of the worst economic plights of the 20th century during the 1937-1938 recession. It was during this time, though, that …
If you have some experience as a resume writer or working in HR, this could be an excellent business opportunity. Law Enforcement 9 Law enforcement is another necessity in …
Business Insider recently reported (subscription required) "home health aides saw a 17.8% increase in jobs during the Great Recession," which is why I predict this industry will …
The exterior of a Google store photographed on June 09, 2022 in Berlin, Germany. Google announced a two-week hiring freeze in July amid the economic downturn, but that …
2. Bakery. People will always take snacks and fast foods, regardless of the economic trends. So, if you start a business that produces cookies, bread, pastries, cakes, and so on, you will have a …
Wienerschnitzel has done extensive research and identified different groups of customers. Among them are deal-seekers, foodies, routine customers, and adventurous, tech-savvy eaters. …
The competitive stakes are high: those 14% of outperformers grew sales by 9% annually during the downturn and increased earnings before interest and taxes (EBIT) margin …
During recessions the restaurant industry benefits with greater supply and quality workers and this is the very best time to bring in new talent. 2. Reduced Rent – As much as residential …
One of the first things business owners usually do in a recession is look for ways to cut costs. That’s why it’s a good idea to review your agreements on a regular basis, just to be sure you …
It also includes strategies to retain and broaden your customer base, market your business affordably, keep morale high amongst your staff and improve business practices. You should …
With more than 759,000 franchise businesses contributing $451 billion to the U.S. GDP, the franchise sector undoubtedly will be affected by an economic downturn. While many …
Here are some home business ideas that thrive during economic downturns and present opportunities for home-based entrepreneurs: 1. Food business. Food is one business …
In many cases, a severe economic downturn prompts the federal government to provide assistance to small businesses through reduced interest rates or stimulus packages …
An economic downturn , or a downturn, occurs when the value of stocks, property, and commodities fall, productivity either grows more slowly or declines, and GDP (gross domestic product) shrinks, stands still or expands more …
1. Adjust automated decisioning. From alternative lenders to traditional banks, automated decisioning has become more commonplace. In a status quo situation, making a …
If you are in the midst of an economic downturn, it’s time to shift into action mode. There are important, decisive actions you need to take now to keep your business afloat. But …
5. Reduce conflicts. Whenever you bring about changes, layoffs, or cutbacks due to an economic downturn, every time something occurs it brings morale lower and stress higher. …
All you must do is to look for ways to weather this storm and we will tell you about it in this article. In this article, you will learn how your business can not only survive but also …
This way you’ll get on-going referrals that will not dry up as a result of a downturn in the economy. 6. Build Service Contracts with Future Work Structure your service contracts in a way that …
Do it. If you have a discerning restaurant with your menu’s price geared to quality of produce, service and ambiance, then in this economic downturn, be very careful not to compromise in …
6. Launch low-work, high-income products and services. Melis Steiner, co-founder of BrandPartners explained to Bloomberg that organizations should consider building an …
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