In a recession, or in other times when the economy is lagging and jobs are being lost, most people consider it to be a very poor time to start thinking about starting a home business. However, tough economic times can also present great money making opportunities to those who prepare and are willing to take a chance on being successful.
Starting a home business in the midst of a recession may seem scary, but not having a backup plan in case you should suddenly lose your job can be even more scary.
Here are 5 relatively recession resistant, money making home business ideas to consider.
1. Internet Marketing Services
Internet marketing services are in high demand in an industry that is growing by leaps and bounds. Anyone who has an online business presence needs to know how best to effectively market their website on the Internet and most will consult an Internet marketing firm for assistance. That’s where the independent Internet marketing specialist comes in.
As small business owners look for ways to build traffic and increase sales in a tough economy, a knowledgeable Internet marketer can help them gain a strong return on investment using very cost efficient means, which makes this a potentially recession resistant business you should include with any money making ideas you might be considering.
2. Medical Billing
A medical billing career could be very promising, either as a home business or a work from home medical billing job. Medical billing and coding lends itself well to working at home, and many in the medical billing and coding profession have been able to do just that, either by setting up a home business and working for themselves with independent physicians as their clients, or by working from home in medical billing jobs with larger health care firms that make and track medical billing work assignments electronically.
In a tough economy, medical providers still need to handle their billing and health care is generally seen as an industry that’s highly resistant to recession and has strong money making potential.
3. Home Staging Home Business
If you have an eye for interior decorating and want to run your own money making home business,a home staging business can provide a great, low-cost start up opportunity for you and it’s a great home business to start part-time on weekends while you’re still employed.
A recession or down economy can often mean a real estate market flooded with homes for sale, including homes held by banks and mortgage companies in foreclosure. A home stager can show clients how to make their homes stand out from the competition and get it sold more quickly. Real estate agents and home lenders may also be fruitful contacts for anyone engaged in this type of recession resistant home business.
4. eBay Trading Assistant
eBay Trading Assistants help people sell their items on eBay. eBay Trading Assistants who operate a home business typically go out to client’s homes or businesses to photograph and pick up items and then sell them on eBay on consignment, with the Trading Assistant handling all of the details of the sale and collecting a commission once the item is sold.
In a recession, people are looking for money making ideas to help pay bills. Selling unused and unwanted items on eBay is one way to that. However, not everyone knows how or wants to put forth the effort to sell the times themselves, so making money on eBay as a Trading Assistant could be a very lucrative recession resistant business in hard times.
5. Virtual Assistant
The Virtual Assistant (VA) industry is growing fast and becoming a popular for those who want to run their own home business to get started – usually by doing the things they have done well in the past for prior employers.
As businesses attempt to cut costs and lay off workers in a down economy, they may decide to outsource some office functions in order to save money. Additionally, for small business owners who are trying to pull in extra business during down times, hiring a virtual assistant can allow them to focus on more profitable activities. A virtual assistant business can be a low cost, recession resistant, money making business that just might keep you very busy and help get you through hard times.