What good business to start in this current economy?

[gwapako]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

[Cointxz]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

It depends on your country but online selling especially on e-commerce is very effective on my case. I have a production for garments and trendy apparel which I can sold via social media advertisements and e-commerce listing.

Now that everyone is browsing on social media, it’s very easy to market your product with a proper marketing and product choice depending on your country trend.

[Majestic-milf]

 Personally, it's not just about starting a business that matters but the ability to maintain it. Location matters too because you don't want where you'd not see sales in a week because customers can't access your business center as a result of bad roads or other things.
 Where I come from, the rising costs of things can discourage one from starting something but if I'm to suggest, you could go for the sale of oil, it's a commodity that's widely appreciated and can also fetch one good income.

[iv4n]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

You are asking the wrong questions. There is no universal "good business", the same business can make someone rich, and make another lose money... It's important "how you do it"? So the real questions are: What skills do you have? What can you do better than others? Where do you live? How much money do you have? Do you have any prior experience, and do you have any contacts who can help with your idea?

You need to do your own research... It's not about "What good business to start", it's more about you, the questions above, and a few others for sure. Don't expect someone else to do things for you... and give you some "magic way" of making money.

[TheUltraElite]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

There is no such thing as "current economy" or at least I do not believe in such terminology.

I understand that if someone is passionate about creating something or wants to run a business off it, they should go ahead with it. If it is in line with the current needs of the world, one might see profits early on. But that carries its own risks as well. Something like retail store will never go out of market because people thrive on it, while a niche market might not do so well.

I would not think twice in starting my own casino because that is always going to be profitable.

[Antotena]

Personally, it's not just about starting a business that matters but the ability to maintain it. Location matters too because you don't want where you'd not see sales in a week because customers can't access your business center as a result of bad roads or other things.
 Where I come from, the rising costs of things can discourage one from starting something but if I'm to suggest, you could go for the sale of oil, it's a commodity that's widely appreciated and can also fetch one good income.

Location is what can make business to flourish and the demand. There are some people that has set up a business that is demanding but the location is wrong nd they end up not going far with the business and there are people that has good location but the type of business they set up is not demanding and they couldn't make plenty of sales for their business. You will have to balance between location, the demand of your business and how to make sales as possible.

Sometimes you can make this conditions and have bad economy, you can have a running business customers will be patronizing you but as as soon as the economy becomes, it becomes a major problem, you wouldn't be able to continue the business again because bad economy affect everybody even if you don't add money to what you are selling to business. A country that deals with high rate of inflation is likely to have collapse of businesses no matter how good the business looks.

[goldkingcoiner]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

Any business can be good as long as you find a niche that others have not yet discovered. But it really depends on your person, what are you passionate about? What are you good at? Do you have skills that nobody else has?

In our day and age a young pretty girl can sell her bathwater and make millions off of her "influencer" videos. Others have other forms of providing enterainment. The service you can provide really depends on you, as I said.

[CONVOAI]

In the current economy I think the biggest opportunity lies in businesses that solve local problems. We often copy foreign models but we fail to understand the real needs of the people in our own area. Businesses that can solve specific problems in the local market are more likely to survive because there is relatively less competition. It is relatively easier to improve products or services by understanding the behavior and needs of local customers. Many big businesses also started their journey by solving a very small problem so in my opinion the biggest opportunity today is not in inventing something new but in solving real problems in people's daily lives better.

[Female King]

Your country and the location you are will determine what business that will be good to start, there are several business to be done there are also some lucrative business that people don't know that they are lucrative, also one thing that delay people not to start up a business is money. In my country and the way the economy is now farming is highly lucrative let me just take the poultry farming as an example layers in that mater for egg production but this business needs some good amount of money to start up.

[imthegreat]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

When it's raining, the best time to sell umbrellas, as they say in the country where I live. Times are certainly more complex now, and it's important to understand that. Digitalization has really pushed the idea of ​​marketplaces into the middle class, allowing every housewife to sell whatever she wants. And it's worked, as the number of such sellers has increased significantly here, but what are they selling? Mostly goods from China, which they source at low prices, then charge a commission and sell here.

[michellee]

You can try food business especially basic needs because they are needed by everyone in your area. With competitive price, you can expands your food business and grow in your local areas. Lesson from some friends who start this is don't take too high profit but small is okay because people will search for a lower price than other stores. You need to have loyal customers who will returns to your store and buy from you and need to add more basic products so your customers will see your store is like one-stop store they needs. But this ideas needs to modify because that can't directly applicable in other places.

[Makus]

A lot of people might give you suggestions here but all of that might not really be helpful to you, everyone on this board are in different countries and they might just be speaking from their own point of view and what works in their country which might be different from what might work in your country. If you want to know the type of business that is going to be profitable for you to run in the current economy especially in your country you need to do a little bit of survey and research, find out what people need around you and try to provide it or better still if you think you have the capital and you are confused then you should see a business consultant.

[coin-investor]

What business is good to start in this current economy? If you will start a business, what will it be and why?

Business is all about supply and demand, and it depends on your location, but most importantly, it's the business you can manage and run.
I have seen so many businesses go down the drain because they tried to imitate other businesses and built on hype without understanding how those businesses work, so it's not about being specific but about knowledge of how to run a business effectively.

[Sticky Bomb]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

Any business can be good as long as you find a niche that others have not yet discovered. But it really depends on your person, what are you passionate about? What are you good at? Do you have skills that nobody else has?

In our day and age a young pretty girl can sell her bathwater and make millions off of her "influencer" videos. Others have other forms of providing enterainment. The service you can provide really depends on you, as I said.

This is correct because you can't just do virtually any kind of business, what would work for you may not be feasible for me, environment and target audience differ as well, so OP should find out his kind of business and ascertain if his target clients exists in his environment, the scale at which he intends to execute it and his own special deliverables.

In recent times, it is not entirely about having a skill no one has, it's hard to come accross a never explored field, but most businesses are refurbished and rebranded in a way that it attracts more patronage. it is now more about crafting your unique deliverable that would spike the desire for your product in people, most especially if it appeals to their laziness. People are lazy and if your product helps them not to do much but get much results, you will have an overload of clients.

[Oasisman]

You're asking a really broad question, because starting a business does not depend on the current economy, it will always depend on your capital, location, and expertise on such a product/brand. Otherwise, your business will collapse in no time.

If you're eager to enter a business and you're unsure what kind of business model is good in any economic status, then choose those products that are needed in everyday living. Food, fuel, personal care, hygiene, household supplies, etc. These products would surely sell, again if you have those 3 I mentioned above. But be wary that you need extra work to make enough sales to keep your business afloat. Business ain't easy as you think, It is more complicated than your desk job, that are both physically and mentally demanding.

[Fortify]

Can I have your thoughts or ideas on this? What business is good to start in this current economy? If you will start a business, what will it be and why?

You're never going to find a good business by expecting people to hand information over to you on a silver platter. If it was that easy then you'd have a million other people doing it and then it becomes unprofitable. Stop being lazy, the best way to figure out goldmines it through trial and error. The internet gives you all kinds of opportunities but you have to work damn hard to distinguish yourself in a particular field. You could try bulk buy reselling, creating review sites, writing a travel blog or any number of other things. To really maximize your income you'll have to become competent in lots of different fields like marketing, servers, ad networks for income, accounting, traffic analysis and building your pages for optimal traffic.

[Juicyhome]

Your country and the location you are will determine what business that will be good to start, there are several business to be done there are also some lucrative business that people don't know that they are lucrative, also one thing that delay people not to start up a business is money. In my country and the way the economy is now farming is highly lucrative let me just take the poultry farming as an example layers in that mater for egg production but this business needs some good amount of money to start up.

Op must be a Nigerian, he believes the economy is bad everywhere because the Nigerian government are useless and clueless to the citizens. To survive in Nigeria is by connection, there's no head way that the economy will be stable and better for the citizens. Just like the said the business need to provide solution to the location you are, if you're in Nigeria the only business you can gain from is food business, at this time everyone is living from pocket or mouth,even the salary is not enough to save for the future. We only eat to survive, selling food stuffs will be a good business in this economy if you  bee serious with the business.

[Rockstarguy]

If one is looking for a business to start in this hard economy, it should be the kind of business that solves people's problems. People are thinking about how they can survive and also how they can add value to their careers and businesses. It might not really be the kind of business that requires a lot of money to start up, but something very small that can solve people's problems. When it comes to business, you need to think of one that you can do, and you don't need to rely on other people's business ideas, because they come up with what they think they can do by themselves.

[SquallLeonhart]

There are tons and tons of businesses which you can start now. You don't even need excessive capital or resources to start a business anymore. You can start a business right from where you are sitting and can scale it globally. The type of business depends on your nature of interest which we can't recommend you.

You will need to make a few decisions before considering other people's opinions. First and foremost thing, are you looking for an online or offline business? Both have scopes and again the probability of success would depend on your nature of interest. I have tons of ideas but can't really get them out without knowing your requirements. Are you looking for an capital intensive business? It would be helpful if you can give some more details so you can get much more personalised options.

[Cryptomultiplier]

Your country and the location you are will determine what business that will be good to start, there are several business to be done there are also some lucrative business that people don't know that they are lucrative, also one thing that delay people not to start up a business is money. In my country and the way the economy is now farming is highly lucrative let me just take the poultry farming as an example layers in that mater for egg production but this business needs some good amount of money to start up.

Op must be a Nigerian, he believes the economy is bad everywhere because the Nigerian government are useless and clueless to the citizens. To survive in Nigeria is by connection, there's no head way that the economy will be stable and better for the citizens. Just like the said the business need to provide solution to the location you are, if you're in Nigeria the only business you can gain from is food business, at this time everyone is living from pocket or mouth,even the salary is not enough to save for the future. We only eat to survive, selling food stuffs will be a good business in this economy if you  bee serious with the business.

Food business and export tech hub business sounds about right in the particular demographic location you mentioned and the reason isn't far-fetched from the need for high global demand, resources scarcity and currency arbitrage.
It would make sense to go into processing of raw commodities to international standard and then use digital platforms like the different social media platforms we have to source for and secure global buyers.

Besides this, the cost of making profit from any current business depends on capital and access to grants and loans and good technical support services, otherwise, such a business might just be a failure in the making.