Business Ideas In The Recession Period: Watch Out, 2023 Soon!

Business Ideas in the Recession Period (Unsplash)

YOGYAKARTA - Recent world events such as the pandemic, war in Ukraine and fuel shortages have led economists to believe that a recession is imminent.

The Federal Reserve estimates the possibility of a recession in the next year to be around 35 percent by 2023. It's time to discuss business ideas in this recession!

While inflation is soaring and stock markets are stumbling, there is a recession-resistant business that can help you make a profit during times of uncertainty.

This is a list of recession-resistant business ideas that need to be remembered.

Sales of Ex-Online Goods

Sales of used bags, clothing, and luxury accessories online are common during the economic crisis. Thanks to eBay, Poshmark, and thredUP, it's easy for anyone to resell goods online and send products to consumers.

According to Forbes, around 33 million consumers purchased used clothing for the first time in 2020. The industry is also projected to double in the next 5 years, reaching $77 billion.

Hygiene Services

Due to the ongoing pandemic, the company's cleaning services are still in demand.

Businesses regularly require cleaning for lobbying, bathrooms, employee workspaces, and other public areas using disinfectants.

Starting your own cleaning business may seem scary.

However, you can start small and offer personal cleaning services to your neighbors or small businesses first.

Home Repair Contract

Home repair and contractors are among the most resilient industries, with a valuation of US$457 billion a year.

It is enough to say that most people want access to repair, depletion, and pressure laundering services as soon as possible, rather than waiting for better economic conditions.

Since people tend to stay at home and save money, they can also allocate their limited budget for home improvement projects.

This mainly happens to home owners who want to sell their properties to combat financial difficulties.

Child Care

Parents who work always need child care services, so this industry will always grow.

Despite the recession, many remain motivated to pursue their careers and seek help in caring for their young children. With an assessment of $54.3 billion in 2019, the child care industry is expected to continue to grow at an annual rate (CAGR) of 3.9 percent from 2020 to 2027.

Online Teaching

The e-learning industry is projected to grow from $197 billion in 2020 to $840.11 billion by 2030. J

ika Anda memiliki ketampuan yang dapat dipasarkan dan dosis karisis yang sehat maka Anda akan dapat mem teaching apa pun secara online.

There is no need for a PhD or teaching qualification to offer photography, yoga, dance, and handicraft lessons from the convenience of your own home.

To make this business sustainable, launch online courses on platforms like Teachable to continue making money with minimal efforts.

You have to do a lot of marketing to attract students, however, you can earn thousands of dollars after successfully building a reputation.

Accounting, Bookkeeping, or Financial Planning

Financial services will remain in demand despite the recession. In fact, the accounting industry is worth $544.06 billion by 2020, and demand is still increasing.

Whether you make money from big companies, small Etsy stores, or your YouTube channel will need an accountant when the tax season arrives. Most people don't want to tax themselves.

Instead, they are more likely to look for professionals who can offer assistance with tax preparation, accounting, financial planning, and bookkeeping.

Freelance Online

Companies may downsize and lay off employees but requests for workers remain.

Instead of full-time staff, companies often hire high-quality freelancers to meet their design and marketing needs remotely.

As long as you have the right laptop and expertise, you can offer freelance services from anywhere in the world.

Done properly, you will earn additional income to pay bills and keep working.

By working from one show to the next show, you will also learn new skills and expand your network as well.

Beauty Business

People may try to reduce expenses, but they still tend to invest in beauty products and self-care.

According to lipstick effects, people tend to spend money for small pleasure such as hair salons and nails to compensate for the greater sacrifices they make.

Those who have a very tight budget may be able to justify their spending on skin care, makeup, and body products because this is an affordable luxury. So this may be the ideal time to launch an online boutique or make makeup vlog on YouTube for additional income.

Food and Beverage Business

People have their own way of dealing with the recession. Interestingly, comfortable foods and drinks are key to staying optimistic and motivated for some people.

That's why the food and beverage industry remains tough despite the pandemic in 2020.

Admittedly, people stay away from cafes and restaurants but home consumption continues to soar.

Thanks to food delivery services such as UberEats, Grubhub, or DoorDash, home bakers can easily sell candy online and deliver it to people's doors.

Those who do not have the power to fulfill many orders can promote their delicious ingredients among neighbors, friends, and family for additional money. You can even start an automatic selling machine business to satisfy people's desires while they're on the way.

So after knowing some business ideas in times of recession, watch other interesting news on VOI, it's time to revolutionize news!