The Top 10 Business Idea To Start That Is Recession-Friendly

The Top 10 Business Idea To Start That Is Recession-Friendly

      Recently,CBN Governor Godwin Emefiele announced that Nigeria economy could go into recession in 2016 if nothing could be done about it.On the same note,Nigerian  economy has witnessed a fall in economic growth in two consecutive quarters(Q2 and Q3).

   With this statistics,any potential businessman will have to think twice before investing in Nigerian economy and you can blame him for that.In this post,am going to reveal to you some top 10 business ideas you can start right away that has proven to be recession-friendly.This top 10 business ideas have stood the test of time and they have proven to be able to withstand any economic threat whatsoever.
       There are some major unknown factors that could push the economy into recession quickly and in a major ways such as;
       * The prevailing price of stocks in the stock exchange market.
       * The economic conditions of the 'Super Powers' such as USA,China,Germany etc.
       * The convertible currencies such as Dollar,Euro.
     I could probably drum up a few more threats that would scare you,but that enough for now.Entrepreneurs and business startup addicts won't let these little threats stop them,but i think they would rather be more interested in the kind of business that tend to be more recession-friendly.If that's you here is a list of business that you will want to consider.

1. ALCOHOLIC DRINKS BUSINESS

 

   Huge percentage of business build around beer, wine do fine during recession. Though champagne and other expensive wines might not be so encouraging, but lower cost liquors can do the magic. The idea here is that: If something is truly an habit - like wine with dinner or an evening cocktail - people do not quite no matter what the economic conditions are. They simply adapt. Consider a liquor store or wholesale distributorship.

2. COSMETICS BUSINESS

   

       While there can be barriers to the alcoholic drinks business idea, cosmetics can be a much easier industry to get into. I suppose when people are crying in their bedroom all day, they need some cosmetics to put on a happy face at night but whatever the motivation is, cosmetics business is the ideal business in any economic circumstances. There are many ways to pursue a business career here, from becoming a cosmetics consultant/representative to selling over the internet.

3. HEALTH CARE BUSINESS

      Again, many branches of this industry have invariably insurmountable barriers to entry. But with a huge aging nursing mother population, there will be opportunities in the home health care services. I also think traditional alternative medicine can be helpful.

4. SWEET THINGS

     In the same way that we won't give up alcohol during recession, we refuse to put down our sweet tastes. The idea here is that: since sweet things can be habit as well, people eating them don't quite easily no matter the economic condition. These are many ways to pursue business here, among them are; selling juicy drinks, foods etc.

5. REPAIRING BUSINESS

      Rather than buy new, we rather repair our old cars, phones and other major gadgets during recession. For instance, Smartphones have become indispensable for both business and personal use. But have you ever tried to get one fixed ? Repairing a broken phone can be as costly as buying new ones.

6. DEATH SERVICE BUSINESS

       Even in the worst recession two things are certain: Death and taxes. Again with the increase in aging population, This is a growing industry no matter what' happening with the economy. You can specialize in the sales or designing of coffin.

7. FOOD STUFF BUSINESS

      No matter how bad the economic situation is, food stuff business can never feel much impact. this is because food is one of the basic needs of man that cannot do without. Let me ask you have you eaten today ? I guess the answer is yes, except if you are fasting. This is how important food is.

8. MOVIE THEATERS

        Movie attendance withstand economic downturns very nicely, although the entire industry is not doing well so much. The big chains have a strangleholds on new releases. So why not consider a local indie theater cashes in on the trends toward combining movie with meals? Could be a big hit in your community.

9. BUSINESS SERVICE

       A lot of business out back on support staff during the recession and many are reluctant to hire, even though they need help. Instead, many are outsourcing on core business functions to third-party firms. This is creating business opportunity for anyone who see it.

10. INTERNET BUSINESS

        You don't need a brick and mortar location to start a successful business online.In fact, some of the most successful businesses can be run entirely online. Keeping your business digital can save you thousands of dollars on rent and expenses, and this is the reason internet business is an ideal business for you in any economic circumstance.

NOTE: Feel free to drop your comments and suggestions about any other business idea you can think of. You can as well share it because you can't tell if your friends need it.