What good business to start in this current economy?

[Nahl]

If talking about build the business i think the idea is depend from where you were live and based on my observation in my current place i am not interested about clothing or restaurant that because a lot of contender from these typle of bussiness that, people can see it that almost in every every corner there are available food and clothes stand in my place.

If i have the capital of money i was thinking about agriculture business because in my opinion this business is very promising especially the prices of vegetables like chili or rice in my place is quite stable so, it makes me thinking someday i will build my own agriculture business because potentially it will survive for long term.

In the current condition which for some countries have suffered recession because of geopolitic condition i think it's not easy to have business which can give us steady income even mostly, some businessman have to bankrupt besides that, if want our business success it took a lot of dedication and it won't be easy.

[TheUltraElite]

No business is good except the essentials for cyberpunk, such as food and Bitcoin

Running a public toilet is also essential and so is the water supply.

You can run any business you want just that it needs to provide something that almost everyone needs. If you are giving FMCG products, you will surely see a good business run over the years because these are essentials in life, but running this business also carries its own risks.

Current economy, future economy - try to make something that is full proof against changes in the economy, that is daily necessities, medicine, water. As long as humans live these will never be enough.

[bakasabo]

Hard to start a business today when worlds situation is so unstable. Based on situation in my country, it is no use to start a small, maybe family business. Also not profitable to start something individually and produce creative goods. Because it is impossible to win against marketplaces like amazon, temu, aliexpress. Selling online is definitely not a good solution, because those 3 giants will beat you with better price. I always though that people will always want to eat and litter. I think working in those directions might be good, or at least you are always be busy and have clients. Feeding people and cleaning their mess will always be demanded imo.

[Always-Late]

Economy defers in different countries but no mater what country it is food business will always be lucrative, food is human daily needs and want so selling food stuff or a restaurant will always you a big return, people can't do with out food no mater how bad the country economy is people will always found a way to eat so am recommending food business as a good business to start up in it will always move market in any country condition.

[KiaKia]

I would rather hunt for something different than to find something that's fetching others money, because I believe that one business can be good for my friend and that same business can be very bad for me.

I like going for something that's not very common, there is this mentality of copying what others are doing in my country and I don't like it, once they see that your business is flourishing they will quickly start to copy you.

You need to find something that suits who you really are, it's not everything that's about money at times, who you are also matters, it is what will unlock extra potential for your business and it's future.

[Emitdama]

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.

Copying some other business will never work for long run. Yes, initially it might give good profits as we don't spend on marketing but the original company spends money on their marketing which covers ours too. But once the hype rules out, there will be huge burden or debts in salaries, maintenance and it would be difficult to even spare some working capital. I have seen a number of such businesses who copied others and ran really well for the initial years. They went bankrupt soon once they started getting all those lawsuits.

OP, if you really want to jump into business, think of something that is unique. Do not copy others and bring the same product with a different packaging. If you lack skills, it is better to get a co-founder or a business partner who knows the industry in and out.

[Dr.Bitcoin_Strange]

If you have the capital, you can venture into commercial farming can depending on the country you are living in, but food production can be very lucrative depending on what's on a high demand in your area, some people here in my place are doing poultry farming for birds and they sell eggs on a daily basis but the cost of running that business is also high, that's why I said if you have the capital, you can go into the business.

[Queen uloma]

In this our current economy, the best business  to start are business that can solve everyday problems and something that people can’t do without so easily. like food business, pos business, logistics, and delivery services. All these I have mention has a good potential because people are always in need of it regardless of how hard this Economy is. I have always thought of starting a food related business or digital service business, reason being that food is a basic necessity and the demand doesn’t end. The most important thing isn’t to choose business that’s trending everywhere. It’s left for you to choose the kind of business that you understand, that  you can manage properly and you can be patience with it to grow gradually. Currently in this our present economy, consistency and to solve problems are more important than looking for quick profits.

[Obulis]

You have to do market analysis or survey on the business that is needed in your region and this market analysis or survey is also paramount even when you have a business in mind already. Different locations in the same country might give different outcome and so is it with different countries. A business good in one place might not be a good business venture in another place, all this should be considered before venturing. Like many people just go for the trends and some or most times it ends up not being a good business venture. Location is important in deciding which business to venture into.

[WatChe]

Copying some other business will never work for long run. Yes, initially it might give good profits as we don't spend on marketing but the original company spends money on their marketing which covers ours too. But once the hype rules out, there will be huge burden or debts in salaries, maintenance and it would be difficult to even spare some working capital. I have seen a number of such businesses who copied others and ran really well for the initial years. They went bankrupt soon once they started getting all those lawsuits.

OP, if you really want to jump into business, think of something that is unique. Do not copy others and bring the same product with a different packaging. If you lack skills, it is better to get a co-founder or a business partner who knows the industry in and out.

This is also good idea to do a survey of which things are in demand in a particular area and then start that business. Like there are cities where demand of chicken is more then what it is supplied on daily basis and if someone start a poultry business in that city then chances of success increases. Similarly everyone can see potential of business he want to start. It's not just the idea that can take you to success but you also need to work hard to make your business successful.  

[Yeesha]

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?

Is not about starting a business, the most important thing is your interest and ability to maintain or secure whatever business you choose to do, and also to develop skills and have the ability to adapt to the new changes that occur in the market.

In these case I will advise you to follow the rule of economic by focusing on:

1. HOW TO PRODUCE
2. WHAT TO PRODUCE, AND
3. TO WHOM TO PRODUCE

Before starting a business the best thing is to find a suitable business by considering the needs of the consumers. Find out about what is missing in your community and it is needed by the people of your community and they lack it. Consider the location, availability and accessibility of the resources.

[GiftedMAN]

If you have the capital, you can venture into commercial farming can depending on the country you are living in, but food production can be very lucrative depending on what's on a high demand in your area, some people here in my place are doing poultry farming for birds and they sell eggs on a daily basis but the cost of running that business is also high, that's why I said if you have the capital, you can go into the business.

Farming business is underrated because people think if you are a farmer you have nothing to offer but they forgot that on daily basis a commercial farmer has demands from different people who needs his farm products to for their daily consumption and others who takes it to market to sell. Poultry farming requires capital and good knowledge because if you fail to understand the right ways to preserve and safe guard the birds you will run into shortage cause what affects one can kill all the birds in the farm.

[Mikky02]

Starting up a good business doesn't depend on the economy, anyone can start up a good business with or without the current economy situation starting up a good business doesn't depend on the economy what really matters is how consistent and creative one could be in terms of business. As long as there is a good capital economy really doesn't matter despite any economy challenge we have businesses that are doing fine. Tho the economy can affect a business but doesn't affect how one starts up a business what really affect how one starts is capital and most importantly Location

[passwordnow]

Generally speaking, the world of today is migrating to renewable energies. Investing in green energy and in all things working with renewable energies can be considered the best opportunity. And I think this is applicable everywhere.

I think that you're right, it solves two problems.
1. Those households that are experiencing expensive electricity bills.
2. Far flung areas that have no access to electricity.
So, it's a good business and in demand but it also requires some capital that you'll have for the supply. But I think someone can be a good electrician out of it and just want to use their skills in helping setting up solar panels or any other renewable energies related set ups.

That is true, you need quite good amount of capital here. But if you will do the strategy of buy-and-sell here where you will only buy components when you have sure buyer, I believe it can work in the beginning. But if you already some capital, start buying components that are fast moving.

Yeah, that will work. You don't have to have your own capital to start but upfront payment from the sure buyer and then when the stock comes, they'll pay in full and that's when you'll also pay in full. The margin is there for you to calculate. But you need someone to trust you with this kind of business if you can't have that much capital to begin with. For I believe those who becomes successful in this niche should really have the capital to show to their potential customers.

[free-bit.co.in]

That is true, you need quite good amount of capital here. But if you will do the strategy of buy-and-sell here where you will only buy components when you have sure buyer, I believe it can work in the beginning. But if you already some capital, start buying components that are fast moving.

Yeah, that will work. You don't have to have your own capital to start but upfront payment from the sure buyer and then when the stock comes, they'll pay in full and that's when you'll also pay in full. The margin is there for you to calculate. But you need someone to trust you with this kind of business if you can't have that much capital to begin with. For I believe those who becomes successful in this niche should really have the capital to show to their potential customers.

In theory, that sounds easy, but trust me, without money, your business idea will not go anywhere.

Customer have no reason to place a deposit or pay upfront while we are the ones providing the product or service and have not fully proven the level of credibility or the value they will receive.

Starting a business requires capital, and that is the most important factor. Business without capital is like going to the battlefield without a gun, and you will only have one outcome.

[Samlucky O]

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?

The economy is facing a lot of challenges and inflation has increased drastically, now it is harder to even do business. You may buy goods now and before you know the price has skyrocket. It is better for you to find a business that will be profitable in your area. And meanwhile before embarking on any business,ake sure you have knowledge of that business, if not you will lose instead of making profile. Think and Investigate around your location what they are lacking and you can start by supplying them what they need, that's how people make profit in business.

[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?

A friend of mine is currently baking cakes at home. It's essentially a mini-bakery where she takes orders on weekends through Instagram and makes cakes using high-quality, healthy ingredients. I understand this is a trend right now. And the return on investment is very high, about 20% per cake. As for time and knowledge, the internet is full of interesting and inspiring ideas that are easy to implement even if you have little baking experience. I think it's a great business that can be stopped and continued at any time, even though competition among homemakers is already quite high.

[bubilas]

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?

I think everyone these days is doing what they love and have a natural aptitude for. My friend works as an online English tutor for foreigners. And my friends have come up with this business: they buy license plates from the traffic police for old cars, with the goal of reselling them later if they come up with a nice number. I understand they invest $50 in the purchase, and often end up with ugly plates that have no economic value. But if they come across a plate with nice letters and numbers, they can sell it for $1,000 or $2,000. It's certainly more of a bummer, but it's their hobby.

[laijsica]

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 need to plan based on the amount of your capital to decide which business will be positive for you. I am not personally very rich but I do not have sufficient funds to do business so I do not do business. I am working and meet the needs of my family with the income I get from it every week.

Since the income from my source of income is not the same every week, I accumulate Bitcoin through discretionary income. Since it is not possible to start a separate business by working under someone else, I am accumulating Bitcoin regularly every week.

If you have available funds to do business, start a business that will be convenient in the context of your country. Determine a business that can utilize your personal skills.

[Out of mind]

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?

Based on the current economic situation, one should choose a business where there is always demand. Although if you start such a business, such as an agricultural-based or e-commerce online-based business, it will be in demand most of the time, in which case the possibility of loss will be less, but it will be best to start with a small capital in any business. But I think depending on the current time and situation, investing in Bitcoin will seem best to me, if you hold it for a long time, you will definitely get good financial profits from it in the future. Since Bitcoin is an independent currency, in that case, investing in Bitcoin looking at the current economic situation will be much better in the future.