Regular Jill Business Blog: Business Ideas

Saturday, April 8, 2017

Best Small Business Ideas to Prosper in Tough Times

Belt tightening is always bad news for small businesses. But small businesses do not suffer equally in tough economic times; while some will be hit severely, other small businesses will only experience a slight dip and still others will actually prosper.

So when you're looking for small business ideas, whether because you want to invest in one or because you want to start a small business of your own, the state of the economy will play a significant role in your decision.
Here are what I think are the best small business ideas for small businesses to start or invest in tough economic times.

Four Home Business Ideas

Ecommerce - In the U.S., ecommerce spending totalled $97.3 billion in the second quarter of 2016 alone, an increase of 4.5 percent from the first quarter of 2016 (U.S. Census Bureau News). Online sales in the United States are expected to reach $523 billion in the next five years, up 56% from $335 billion in 2015, Forrester Research Inc. says. Canadian companies sold more than $136 billion in goods and services online in 2013, up from $122 billion a year earlier, according to Statistics Canada. Obviously more people than ever are shopping online. And it's an ideal home business opportunity, especially as ecommerce is so easy to get into now. One of the main barriers to operating a successful e-commerce business is finding the right product or products to sell; the other is providing the kind of online environment that will make people want to buy from you rather than competitors. 8 Rules for a Successful Ecommerce Website provides information on how to do this.
In-Home Beauty Services - This home-based business opportunity combines two trends; the insatiable demand for services that make people look and feel younger and better and the growing desire to have those services delivered. And why not? Having someone come to your home and cleanse and tone your skin and do your makeup is the height of luxury. And caring for and making up the face are only two beauty services you could offer to provide; manicures, pedicures, massages and acupuncture could also be provided to people in their homes — or in yours.
Sewing and Alteration Services - Sewing is on the way to becoming a lost art as more and more people find they have less and less time. But as not everyone is the regulation size, the demand for other people to provide these services will only increase. If you're really skilled, tailoring and alterations could be another potentially lucrative home-based business.And what about combining your seamstress skills with the inner fashion designer you've always wanted to release? Find and develop your niche, such as custom-designed wedding dresses, medieval clothing or Halloween costumes and loose your talent on the world!
Business/Life Coach Services - Coaching has been hot for a while now, but this is still a growth industry. Remember when everyone had or wanted a personal fitness trainer? Now everyone has or wants a personal coach. In the last ten years the coaching industry has exploded says MarketPlace; membership of the International Coach Federation has more than tripled. A report by the market research firm IBISWorld at the end of 2014 said coaching is a $1 billion industry in the U.S. alone. If you have the skills and training necessary, this is a great home-based business opportunity because it can be done remotely as well as in person. Here are the pros and cons of being a life coach. And remember, coaching people to be more successful business people or executives is not your only option; there are many different ways you could specialize. Tzabia Siegel, for instance, is a nutrition coach. Read her tips for startup success.