Best Businesses to Startby
I came across two takes this morning on industries where there are growth opportunities for entrepreneurs even in this recession. First, sometimes BusinessWeek columnist Tom Taulli over at BloggingStocks offers a few ideas like education, services for the elderly, repair services, and career services. The first two are insulated from the recession and the second two are actually counter-cyclical — consumers are keeping things longer and opting for repairs over replacements, and laid off workers seek retraining and other job services.
Inc. has a slideshow of industries that are growing or expected to grow. Their picks include everything from niche lifestyle businesses (candy, yoga) to growing new industries (green building, health technology, iPhone apps).
BW’s Stacy Perman looked at opportunities specifically tied to the down economy earlier this year: credit counseling, repair services, debt collection and repo firms, and second-hand stores. It’s worth remembering that even though the economy as a whole is shrinking, there are always opportunities in new growth markets and counter-cyclical industries, where business picks up when the economy turns sour.