Although the recession seems to be turning around, if slightly, people are still being more selective about where they spend their money. If you want your business to succeed what industry should you in? Here are some answers from the leading small business publications:
Even in a downturned economy people have a sweet tooth. The price point of candy is practically recession proof – no matter what your budget, you can always justify sparing a few cents for a few moments of indulgence.
Home Health Care
According to Inc., people are turning to Home Health Care as it’s both cheaper than nursing homes and also provides patients the opportunity to remain in their own home.
What do you do when the car breaks down and you can’t afford an upgrade? Fix the one you have. Inc. says that small repair shops are seeing an increase in business due to the fact that people think twice before throwing things out.
While Fast Company didn’t list any specific industries, the magazine did give insight as to where you might want to start a business. Some of their picks:
Businesses in the Windy City take care of their own. The region has a large market and powerhouse of innovative knowledge thanks to nearby universities.
Universities are cited once again, but unlike urban Chicago the cost of living is significantly lower compared to other parts of the county. The Emerging Technology Fund for tech start-ups doesn’t hurt either.
A good place for health care (one of Inc.’s top industries), Raleigh-Durham also is supposed to have a great community vibe that welcomes young businesses. Oh, and it has universities nearby.