What business to open in the crisis of 2021
During the economic crisis, hard times come for business. But do not panic and give up. If you carefully analyze the market and draw the right conclusions, you can find many promising ideas. In this article, we will figure out what kind of business to open in the 2021 crisis and how to make it profitable.
Consulting and Consulting
Aspiring entrepreneurs are often interested in what kind of business is relevant in the 2021 crisis. To make money, you need to look for extraordinary ideas that may be in demand in an unstable economic environment.
During a crisis, many business owners try to cut costs as much as possible. To do this, they turn to highly qualified specialists for help. Thanks to their work, they manage to maintain turnover without compromising quality.
If you have the appropriate education and experience in this area, open a consulting company. This profitable business will bring excellent profits in times of crisis.
It is quite difficult for beginners without start-up capital to advance in a niche, so at the initial stage you can limit yourself to your own efforts. Provide advice in the field of activity in which you are well versed. At the initial stage, it is possible to advise clients via the Internet, for example, via Skype. Having earned credibility and acquiring regular customers, you can think about opening a full-fledged consulting firm with the involvement of diverse specialists.
This business will be popular and in demand both during the crisis and in case of stabilization of the economic situation. Therefore, you will certainly remain in the black.
Repair of electronics and household appliances
A workshop can be opened at home and work independently, thereby reducing the cost of renting premises and staff wages.
Thermal printing on fabric
If you develop a marketing policy correctly, such a business will be profitable even during a crisis. First of all, you need to invest in advertising, since business development during a crisis requires effective promotion.
It turns out that everything is quite simple, these people just very wisely invested in a business that, even in a difficult economic situation, was capable of generating income. Anyone with professional skills and knowledge in a particular area can do the same.
Before answering the question about what kind of business is relevant during the crisis, you need to understand that selling your own products is much more profitable than being a reseller. In times of financial turmoil, speculators are the first to go broke.
Thus, the first tip will be useful to those who love and know how to cook. Many women, being in the status of housewives, can earn more than their husbands. Moreover, the impact of the crisis on the culinary business is minimal, because everyone needs to eat at all times.
Where should you start? First of all, decide on 1-2 specialties. After all, even with the culinary skills of a chef, you cannot take on everything at once. The primary task should be to occupy your specific niche, and not to compete with public catering.
It is better to stop the choice on something that cannot be bought elsewhere. This can be, for example, various confectionery products and pastries prepared according to grandmother's recipes. If you have a car and an assistant, you can arrange home delivery, which will help expand the sales market.
With knowledge in the field of economics, you can make very good money yourself and help others do it. True, in this case, you can face many problems, one of which is the difficulty of obtaining a license to conduct such activities.
In addition to the influx of visitors, such a business during a crisis has another noticeable advantage, which is the reduction in prices for spare parts. Many specialty stores, in a pre-bankrupt state, prefer to arrange sales rather than go bankrupt.
Internet and high technologies
Profitable and relevant ideas for earning the year
With the onset of difficult economic times, more and more people are thinking about the safety of their capital. Many firms lose profits, and there is panic in the state due to the fall of the national currency and the rise in prices. But, as they say, while some are thinking how to avoid the crisis, others are making money on it. In this article we will talk exactly about what kind of business to do in a crisis.
Why is it worth starting a small business in a crisis?
Many people confidently believe that in a period of economic instability in the country, starting a business is at least a stupid idea. But as practice shows, while some save mercilessly, others get richer.
Money should work. It doesn't matter what kind of stash you have, you shouldn't store it under the mattress, otherwise you will soon lose it.
And it doesn't matter in what currency you keep your money - they should definitely only multiply.
Understand a simple thing, if you set yourself up in order to save your money, and not invest, then you risk doubling the risk of those who were not afraid to invest in a profitable project.
Let's take a look at the most profitable options for earning money during the crisis.
Regardless of the season, the economic situation in the country and priorities, the need for food will always exist. Well, it's unrealistic to live without food. Every day we all buy products, so the trade business will never lose its relevance.
The only thing that needs to be taken into account is the consumer basket, which changes significantly and is emptied during the crisis. Not everyone can afford expensive food, so it is worth focusing on inexpensive but high-quality products. Thus, you will always get your target customers, even in a crisis.
Can the crisis in the economy be used as an opportunity to start a business? Quite. Enterprising people (or those who have nothing to lose) will always find lucrative ideas even in such, to put it mildly, unfavorable times.
It is not easy for everyone in Ukraine now - the rate is slowly but inexorably growing upward, reforms are progressing with a creak, and the number of people who went abroad in search of a better life, in my opinion, is greater than at any other time in the entire period of independence. And in 2021 the situation is unlikely to change dramatically.
Despite all this, each of us still has a chance to start a business, earn money for ourselves and our family, and survive the troubled times with dignity.
Starting any small business during a downturn is like being baptized by fire. But, if you manage to survive after this is over, you will prosper along with the economic recovery.
ideas for business in crisis
Some areas of business are always relevant, regardless of the situation in the economy and other factors that can have a devastating effect on other areas.
They all have something in common. Firstly, they are characterized by minimal investment, and there is no question of any ceramic tile factory. In some cases, it will be enough to invest an amount that is equal to the national average salary for several months.
Secondly, they cover the needs, first of all, of the basic level. Inexpensive clothing, affordable food, budget furniture, etc. The relevance of each of these areas during the economic downturn is growing very strongly.
Here is our selection of ideas to help you make the right decision about which business to start in a crisis.
Air conditioners break down in offices, students' laptops junk, someone's roof starts to leak, and someone's car suffers from overheating. Even if your potential clients are in no hurry to fix faulty things, sooner or later they will still have to do it.
It is worth noting that many, if not all, renovation businesses require specialized training, skills and equipment. However, such companies will not make you wait too long for the return on investment.
New phenomena in the economic situation, those that a few years ago frightened entrepreneurs with the loud word "crisis" are now nothing more than a familiar state of affairs. Business has adapted to the crisis and made such an element an integral part of all-round development.
The entrepreneurial market a priori notes future instability, resource constraints and large fluctuations in demand for manufactured goods and services. Credit institutions have become an order of magnitude more careful with the issuance of credit obligations, and investors have lost their serene confidence and stopped investing their money in any more or less interesting project.
Doing Business in Crisis
A break-even enterprise is a profitable business in a crisis. Minimizing liquidity losses will allow you to survive an unfavorable period without major problems and stay afloat, without approaching the zone of discomfort - the zone of bankruptcy.
There are many ways to keep your business profitable. Large consulting companies offer various anti-crisis policy services, but most of them do not work and are a waste of funds.
To keep your business buoyant, you shouldn't be nervous; it's better to carefully develop an enterprise policy to minimize outside costs. To do this, follow four simple rules:
Keeping the business "squeezed"
In essence, the risks of new projects are practically identical to the same risks to which enterprises on the market are exposed. The most significant risk is the lack of the required level of liquidity. The decline in demand is not so dangerous in comparison with the lack of funds for the minimum development of the enterprise. A drop in customer purchasing power will be the most dangerous for those businesses that cannot shrink in direct proportion to the changes. To avoid unnecessary risks, the retail business should refrain from long-term commitments and unreasonable expenses. Statistics show that for small businesses, about 80% of the cost structure is prescribed for the lease and remuneration of personnel. Retail business is characterized by high staff turnover (up to 60% of staff). For a more thorough "squeezing" of the enterprise, it is planned to suspend the hiring of new personnel and stop the indexation of wages. In any case, optimal "compression" will only happen with an agile business model.
Lack of sufficient liquidity as a result can turn into big troubles. A striking example is the real estate business (development). During the 2021 crisis, most of these projects died out due to the lack of funds to complete the work.