10 Small Businesses You Can Start In The 2023 Recession (Or Bad Economy) That Will Make You Rich
In times of economic uncertainty, it may seem daunting to start a new business. However, history has shown us that there are always opportunities for entrepreneurs to thrive, even during recessions or bad economies. With the right mindset, determination, and creativity, you can turn adversity into success. Here are 10 small business ideas that have the potential to make you rich in the 2023 recession or any bad economic situation.
1. Online Retail Store: With more people relying on e-commerce, starting an online retail store could be a lucrative venture. Find a profitable niche, source products at lower prices, and harness the power of social media and digital marketing to reach a wider audience.
2. Home Delivery Services: As people prefer to stay at home during uncertain times, offering home delivery services can cater to their needs. Whether it’s groceries, prepared meals, or other essential items, this business can thrive with efficiency and convenience.
3. Virtual Services: With remote work becoming the norm, there is high demand for virtual services. Offering services like virtual assistance, online tutoring, graphic design, web development, or digital marketing can provide a steady income stream.
4. Subscription Box Service: Curate specialized subscription boxes filled with unique products or niche items. These boxes delivered directly to subscribers’ doors can bring delightful surprises and provide a constant revenue stream.
5. Health and Wellness: During difficult times, people prioritize their health and well-being. Starting a business focused on health and wellness, such as a fitness studio, healthy meal delivery, or mental health counseling, can be highly profitable and fulfilling.
6. Repair Services: As people aim to maintain and repair their possessions instead of replacing them, offering repair services can fill a gap in the market. From electronics and appliances to automotive repairs, there is always a need for skilled individuals in this field.
7. Online Courses and Workshops: Knowledge is always in demand, especially during an economic downturn. Capitalize on your expertise and create online courses or workshops in a subject you excel in. Platforms like Udemy and Teachable make it easier than ever to reach an audience and generate passive income.
8. Green and Sustainable Businesses: With growing awareness for sustainability, businesses that focus on environmental solutions have a bright future. Start a business that offers eco-friendly products, renewable energy services, or even recycling and waste management solutions.
9. Home-Based Bakery: People love baked goods, no matter the economic climate. If you have a passion for baking, consider starting a home-based bakery. Customize cakes, pastries, or even healthy treats for dietary restrictions to stand out from the competition.
10. Thrift or Consignment Store: During tough times, people tend to look for affordable alternatives. Open a thrift or consignment store where people can find quality second-hand clothing, furniture, or antiques. With careful sourcing and appealing store displays, this business can be both profitable and sustainable.
Starting a business during a recession or bad economy requires resilience, adaptability, and a keen understanding of market trends. While there are risks involved, with the right strategies, these ten small business ideas can transform your financial status and provide substantial wealth in 2023 and beyond. Remember, every crisis brings opportunities, and it’s up to you to seize them.
FIND: Turnkey Businesses
LEARN: How To Make Money Online
HOW TO: Work From Home
REVEALED: Affiliate Marketing Basics
Welcome Rockstar! Thanks for watching. Be aware of SCAMMERS in the comments who use my photograph to impersonate me by asking you to WhatsApp, text or email them or who share comments about who they are investing with to scam you.
Solutions not problems!!!!
Good video
How in the name of God and where in the world cut me or anyone else sell that many Hershey's kisses??? Bulshit
Thank you so much I learn a lot
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Thank you for doing this for all of us. We need more people like you doing this type of thing . God's bless you.
Solutions not problems! Thank you!
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
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Yes❤
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These are wonderful ideas! I have been debating about whether to start up a staffing agency or a neighborhood delivery service. This is a confirmation that I'm on to the right thing. And your advice helped me to map out the next steps to achieve what I want. Thank you ❤
i HONESTLY did NOT know it was/is a recession! got my mind on my money, my health, and my happiness and my money, my health, and my happiness on my mind! THAT'S MY FOCUS, NOTHING ELSE!
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The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I start investing my cash in other to achieve all my dream with the help of Lucy Mary Liam. The difference Mrs Lucy Mary make in my life is second to none. It's definitely a life changing kindness. I really appreciate her effort in my life time.
Please buy a microphone. The audio quality is poor and echoes. Plus too many adverts interrupting the content so it's distracting.
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
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Odetta Rockhead-Kerr, does this apply to starting a business in Mexico with the same principles?
solutions /not problems thank you for a great inspirational video
It's possible to diversify your investments at any stage in life. I personally sought out new investment options as I am in my 40s. I received a recommendation for a trustworthy broker from influential figures in the market and with her assistance, I was able to significantly grow my assets from $250,000 to $1,000,000 within the first two months of the year…
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Solutions,not problems
I love the grafics , animation on your videos who makes your videos so animated
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Solutions, Not Problems
Worth sharing please am interested to learn more on business idea #9 if you can help me out watching all the way from Samoa
Hello, do I need permission to sell someone else's product or candy on Amazon?
I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
you are a great presenter for at least this video it has too much flash and glitter, thumbs down when I saw the dancing chicken 🙁