During times of economic difficulty, some people shy away from the idea of starting a home business while others gravitate towards it. For some, a home business start-up during a recession is largely involuntary, a result of being laid off due to economic conditions. Whether voluntary or involuntary, home business start-ups during a recession require imagination and perseverance while offering distinct opportunities.
No matter how bad a recession gets, people still need to eat. Recession-proof home businesses within the food industry include growing organic produce in your yard and selling it to local restaurants and retailers. Use your kitchen for the small-scale production of speciality foods; easily transportable and saleable specialities such as granola, salsa or cookies can be produced at home and sold in the same outlets as your produce. Add value to your produce by cleaning, trimming, chopping and packaging in easy-serve units.
Economic boom times encourage consumers to throw away electronics, sports equipment and clothing that could easily be repaired. When times get tough, people give more thought to prolonging the life of their possessions. Not only is this a sensible way to deal with damaged or worn items, it presents moneymaking opportunities for entrepreneurs who are skilled in repair. Repair businesses can focus on computers, small appliances, clothing or automobiles. When household furnishings and other possessions are repaired, their useful lives are prolonged, giving local businesses the opportunity to support themselves while decreasing the waste stream to the landfill. You can operate a small repair business from your garage, basement or spare bedroom.
Renovating part of your home to include a rental apartment allows you to turn your home itself into a source of income. This small business is particularly appropriate for couples whose children are grown and have moved out, leaving a house that is larger than necessary for only two people. Often simply closing off the stairway between two floors and adding a kitchen and entrance to the second floor can create a separate apartment. This requires an initial investment up front to pay for renovations, but provides a monthly income indefinitely.
Second Hand Items
One of the best ways to save money and get more for what you spend is to buy used merchandise. Buying used products frees you from the need to deal directly with retailers, and opens up opportunities for barter and haggling. Merchants who take advantage of this desire among the buying public can, with some skill, turn a healthy profit by buying and selling used items. You'll need storage space for your merchandise, but this type of business can be run from your house using local classified ads or the Internet. Doing business over the Internet from home saves you the expense of a commercial storefront.
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