Are you looking for a new side hustle or maybe even a full-time business? Are you tired of your 9-to-5 job and eager to get out of the rat race? Have no fear, there are plenty of opportunities for entrepreneurs out there. In fact, this is probably the best time ever to start up a business because people are so desperate for work that they’ll work with anyone who can give them an opportunity. This article will detail 10 profitable businesses that will make money during the next recession:
A new recession is coming.
The economy is in a bad place and it’s only going to get worse. We’re headed for another recession. This time, we’re looking at a two-year downturn that will be much worse than the one in 2020 or 2023.
In some ways, this is good news: it means you’ll have an opportunity to make money in your own business! But before you start taking out loans or quitting your job, let’s talk about why this recession will be different from its predecessors and how you can prepare yourself for what’s coming next.
1. Sell Handmade Goods
In a recession, people always look for more affordable options. Handmade goods are therefore an interesting business idea that you can explore in the 2022 recession. If you have a talent in making arts or crafts, then this might be your opportunity to pursue your passion and earn some extra money as well. Selling handmade products is not as difficult as it might seem; it just takes a bit of effort and patience. You should know first whether or not selling the products you make legally qualifies as an artisanal activity before moving forward with any of these ideas:
- Selling your goods on eCommerce platforms like Etsy or at local markets (via stalls). This can be done through pop-up shops too!
- Offering personalized items such as customized clothes, jewelry pieces etc… If this sounds like something that interests you then read on!
2. Work As A Freelancer
There are a lot of people who have a skill that they can monetize to earn extra income.
If you have any kind of talent that others might need, be sure to capitalize on it during the 2022 recession.
The most obvious choice for this is as a freelancer. There are many websites dedicated to connecting freelancers with employers and companies looking for their services, such as Upwork and Freelancer. Many people are already doing this, so if you want to make money in 2022 by being a freelancer, you should start working now!
3. Start An eCommerce Store
Starting an eCommerce store is a great way to create a profitable business. From the comfort of your home, you can sell products online and get paid for it!
Ecommerce has become a preferred method for many people looking to start their own businesses because it’s easy and inexpensive. You can set up your store in just a few minutes and begin selling almost immediately. Best of all, with eCommerce platforms like Etsy or Shopify, there are no upfront costs or financial investments required to get started!
4. Become A Social Media Consultant
Now, you’re probably thinking that social media is something for millennials and kids. You think it can be useful for personal brands, but not so much for business use. Well, you should definitely rethink this perspective. Social media has become an essential part of marketing these days with its power to reach out to people across the world within seconds. With the right strategy and content creation skills, it can help your business grow fast in no time at all!
So if you are looking to make some money through social media consulting by charging people who want their brands to be promoted on these platforms, here are a few things you need to know:
- How do I become a social media consultant?
- What types of services should I offer as a consultant?
- How do I build up my clientele?
- How do I create content for them?
- How do I market my business on social media?
5. Cybersecurity Consulting
In the business world, cybersecurity is a topic that’s come up more and more in recent years. It’s been reported that many companies have been targeted by hackers who’ve stolen valuable information such as credit card data and personal information like social security numbers. This kind of activity has become so common that it’s resulted in a cybersecurity consulting industry where businesses can hire consultants to help them protect themselves against these cyberattacks.
As an aspiring entrepreneur, this is an opportunity for you to enter the field and make some money while also helping businesses stay safe online.
6. Nanny Service
- How to find clients?
- How to market your service?
- Finding and training a nanny.
- Setting up your business.
- Managing your business profitably.
7. Be An Online Tutor
- Be an online tutor
- Establish yourself as a good teacher
- Find students and market yourself to them
- Keep your students happy and come back
8. Real Estate Investing
Real estate investing is a great way to make money and build wealth. The reason why it’s so popular is that it’s a long-term investment that can be used to diversify your portfolio, making it a great way for you to invest in your future.
Real estate investing has become more accessible with the rise of online platforms like Airbnb and Zillow, where people can easily rent out rooms in their homes or entire houses if they have them available. If you have extra space around your home, then this could be an ideal opportunity for you!
The best part about real estate investing? You don’t need any experience at all! All it takes is some initial capital and patience while waiting for the market value of whatever asset class (house) increases over time…
9. Virtual Assistant
A virtual assistant is a great business idea for people who want to work from home, but don’t have the necessary skills or knowledge.
Virtual assistants are self-employed independent contractors who specialize in administrative support services and assist clients with a wide range of tasks, including:
- Typing and formatting documents
- Data entry and filing
- Bookkeeping and accounting (including taxes)
- Email management
- Social media management
10. Rent Out Your Spare Room
Renting out a spare room, your garage, basement, and driveway parking space can be a lucrative business idea. The spare rooms in your home are best for short-term rental guests. You can also rent out the garage for storage purposes to people who do not own cars and need somewhere to keep their belongings safe from the elements.
You can rent out the basement as an extra living space or use it as an office or warehouse if you don’t have one already. Your driveway parking spot is another great way to make some money as well as generate some extra income during times when you’re not using your car on any given day.
Whether you want to start a side hustle or run a full-time business, there are plenty of entrepreneurial opportunities ahead!
Whether you want to start a side hustle or run a full-time business, there are plenty of entrepreneurial opportunities ahead! If you’re new to the world of running your own show, the first step is to get clear on what you want. Once that’s done, it’s time to make a plan. You can read all about it in our article “How To Start A Business With No Money”
Not sure how to get started? That’s okay! Don’t be afraid of failure; instead, use it as an opportunity to learn and grow. There may be times when no one will take your idea seriously—that doesn’t mean that their opinions matter more than yours do. As long as you believe in yourself and follow through with the things that matter most, everything else will fall into place.
I hope you’ve found this list of business ideas to be helpful. Remember that while the recession may seem scary at first, it’s an exciting time for many entrepreneurs who are able to take advantage of opportunities that wouldn’t have been available before!