Successful Businesses In Times Of Trouble: There are several examples of successful businesses in times of trouble. The idea is to know how to choose since certain sectors are booming in global contexts of recession. This is a list of options with high probabilities of development.
Successful Businesses In Times Of Trouble
The secret of these businesses is that, faced with a shrinking paradigm, most of the population changes their consumption habits. Therefore, they are interesting options that should be addressed.
Renting Or Renting
Renting or rental is the alternative for those who cannot buy a car, clothes or machinery. In crisis contexts, consumers give much more importance to what they spend. Paradoxically, it is at this time when the rental can work best. This business model is a business opportunity.
Companies Related To Repairs And Arrangements
Economic crises are the worst time to buy new clothes or appliances. Businesses specializing in repairs and arrangements of all kinds are likely to grow in this context.
Recycling And Reuse Sector
Recycling and reuse is a sector with a future, also in expansive market environments. What happens is that when there is a recession, it corresponds to making a virtue of necessity. If it is possible to recycle or reuse a product, there is a business idea. Therefore, thrift stores would be one of the types of businesses that would succeed in recessions.
Alcohol Sales Shops
Alcohol stores are an interesting option if they focus on mid-range drinks. A wine or beer store has a good outlet in crisis contexts because medium-priced drinks continue to be consumed. Not surprisingly, we must remember that they are less taxed.
Sports
Another important aspect is that people continue going to the gym during the crisis, and fitness always stays in style. Therefore, fitness centers’ are a good business option. Staying in shape is cheap and challenging for most people, so it’s a way to generate resources.
Health Care
Economic crises also bring with them states of greater anguish. In 2019, according to the World Health Organization, 45% of workers will suffer from work stress. This means the demand for psychological consultations, yoga, mindfulness or meditation increases.
Cosmetics Industry
The cosmetics industry works well in recessionary contexts because people who are unable to buy expensive clothes choose to wear more makeup. The result is that when there are economic crises, there is no significant drop in the sale of cosmetics.
Financial Services
Financial services have a good future when there are economic problems, especially to request quick loans or renegotiating debts. It is not surprising, for example, that the 2009-2014 crisis multiplied the existence of these companies.
Legal Sector
Legal advice is always necessary, but much more when dealing with bankruptcies or possible foreclosures. Law services usually have expansion possibilities at this time.
Insurance Sector
Insurance is a stable investment when there are economic difficulties or forecasts. First of all, there is a series of insurance that is mandatory to have for civil liability issues. On the other hand, there are a series of long-term policies that do not stop paying.
Crowdfunding Y Fintech
The Internet connection is widespread, and the vast majority of homes have it, 95% in 2019, according to the INE. Crowdfunding and fintech are businesses with a future because they use all the possibilities offered by the Internet. This is a viable alternative if you want to raise an amount or ask for money.
The Collaborative Or Sharing Economy
Sharing is a way of exploiting the need, but the truth is that it works. It is good to know that using flat rental platforms, shared cars, meals or other elements is possible. A well-built app like Codify, Bla Bla Car, Uber or Airbnb is an alternative for economic crises because it is cheaper.
Coworking
Coworking spaces are a good option for those who want to save money on rent, and the crisis has made them increase. On the other hand, this is an opportunity for networking, which is why this format gains value.
Online Stores Or ECommerce
Ecommerce increases in crisis contexts because it is a cheaper method of purchase. According to the latest Statista study, online shoppers will grow by 25% in 2025, reaching 37 million users. This is a well-positioned business with good products that can function well despite a negative global context.
Logistics
Logistics is linked to the emergence of e-commerce, so these services will continue to be important in the medium term. These businesses have an outlet locally and when they choose to use non-polluting energy.
Applications Development
Apps are useful for multiple tasks; It should be remembered that, in Spain, according to the Association for Communication Media Research (AIMC), 91.5% of Internet users already access the Internet through mobile phones. Therefore, application development has an interesting audience.
Discount Coupons And Collective Purchases
Discount coupons and collective purchases have the particularity of offering discounts for contracting certain services in exchange for a commission. When there is economic contraction, consumers are more interested in saving.
Turismo
Tourism always stays in style, both for Spaniards and foreigners. The economic trouble of 2009-2014 led to an increase in visitors from Asia, so it is a good alternative to make money.
Cine
Film-related businesses are another option in times of trouble, as long as something different and of quality is offered. It is recommended if you specialize in independent film.
Luxury
According to a comparative study by the World Inequalities Laboratory, people who are part of the richest 10% of the population in Spain earn eight times more on average than those who are part of the poorest 50%. All businesses related to gold, precious stones, jewellery, high-end automotive or luxury generally have a good start.
This list of the different types of successful businesses can help you set up a business in sectors that grow in times of trouble. You should consult to know how to earn money in difficult times with profitable businesses.
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