What good business to start in this current economy?

[cxtreenal]

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 business you start personally depends on how much capital you can invest. You can plan depending on the size of the capital, but I think starting a daily necessities shop will be the most positive and profitable. Almost everyone knows what products a family needs every day, you should plan accordingly and start a business.

If your budget is limited you can start a small scale food shop because in this business you can sell cash and there will be cash flow. If you can sell food by preparing it, the profit in that business will be high.

If the budget is more limited, start a coffee shop. You will get cash flow from this shop although the amount is limited.

[sunsilk]

Tiktok is booming. I think that being an affiliate on it is going to be a good business but that's not easy to start with.

We see some marketers pushing people to become affiliate in it because the commissions are good if you sell a lot.

If you have that talent to attract a lot of customers then you'll be printing money but of course that comes with a talent too.

[Danica22]

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?

Business depends on many factors, including capital, expertise, experience, network of contacts and many others.

A business idea might work great for one person or in one specific area, but that does not mean it will work just as well for someone else or in a different location.

Therefore, if you intend to start a business, choose a field that you understand and have experience in, rather than choosing one simply because it is currently  trending.

[Smack That Ace]

Tiktok is booming. I think that being an affiliate on it is going to be a good business but that's not easy to start with.

We see some marketers pushing people to become affiliate in it because the commissions are good if you sell a lot.

If you have that talent to attract a lot of customers then you'll be printing money but of course that comes with a talent too.

Before you can become a tiktok affiliate and work with brands, the first step is to build an account with clearly focused content, a stable following, and sufficient engagement. From what I have gathered, the typical requirement is around 5k to 10k followers, along with roughly 100k likes over the previous 28 days.

It is challenging and far from easy. But it is well worth trying because it does not require a large amount of capital, a degree, or specialized experience in a particular field.

[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.

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.

Maybe is only a mentally unwell person that would think that farmers have nothing to offer meanwhile the person's vision is working perfectly and they are seeing how the farmer is growing food products and selling to the market and final consumers too or they see how the life stock farmers are selling different raw materials to industries that makes use of them to create finished products. Almost everyone in the world eat rice, meat, milk, egg, etc, and you tell me that there is someone who doesn't know that farmers are involved in these food products?

[Fredomago]

You said it right, before starting it's better to study first what's the demand from your area, even you have the capital and you have the idea it's always best to seek for more details, if you can sort those neighborhood of yours they are the one who can give you good idea if what particular business to open, as they are the first line of your target as your projected clients that will help you to explore and succeed with your plans.

This is why some business minded people start a business and close down less than a month, because they don't do market research and what is in demand from there area location. You are going to see a person set up a business because he saw the business doing well in another place, even if the business is standard and I'm offered a franchise in my location, if people are not going to be demanding that product, in not going to sell that Franchise.

There is something that kills business too, you can have business that is good, very demanding and people will like like but economy can make you regret starting the business. There are people that has abandoned their business because the government implemented some policy and make some improvements to things that make business so unbearable to them and left with no option but to end the business and focus on other things.

That's a good point, as there are many business owners who rely their hope with the success of other owners thinking that duplcating or doing a franchise will lead them to that same level of success, it's very important to do your research and assess things before jumping to conclusion and same with what you said, government rules also have some factors that affects businesses and with unhelpful requirements owners ends up closing and not to pursue with their goals, knowing that it just a waste if they will proceed and there's none that they can gain because of those rules and implemented taxes and fees that they need to cater.

[SOKO-DEKE]

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?

If you want to start a business, there are a lot of factors someone should first consider before choosing a business. One important factor is capital, and another is the environment. These will determine the kind of business someone can do.For now, since we don't know your capital set for business,so it will be very difficult for anyone to suggest the kind of business you should start. Your environment also plays a very important role. You should find out the kind of business you can do successfully based on your capital and your environment.You should go for a business that is in demand in your environment because that is one of the best ways to succeed in business. There are people who have invested a large amount of capital in their businesses, but the businesses failed because of their environment. Therefore, we should always carry out proper surveys before starting any business in any environment.

[Unknown Op]

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?

Whenever we have to start a new business we should see the market gap,  we should have customer analysis, that what sort of product or services they want. Economic conditions are changing on daily basis and people are very much reserved and careful in their spending. So we cannot identify a single business that can be successful, we should focus on starting a business that tries to solve the real life problems like something that is related to logistics or food business,  repair and maintenance business or any affordable technology that help in daily life. We should go for the businesses that required less starting capital and with time they give us profit,  we can also go for providing digital services or E-Commerce store, they will help businesses to improve their efficiency.

[blockman]

I recommend a civil engineering construction high rise building contractor work and same apartments selling real state selling purchasing work

I like real estate and apartment business. But this advise of yours requires a lot of money and probably only for those contractors who have been in the business. If I have the money, I'll have my apartments rented but it doesn't have to be a high rise building because in my country, land is expensive and small portions are only available to be purchased. What I think you're saying is about flipping and become a build and sell construction company. As for me, I won't be selling what I've built if they are on a good location.

[Queentoshi]

I recommend a civil engineering construction high rise building contractor work and same apartments selling real state selling purchasing work

I like real estate and apartment business. But this advise of yours requires a lot of money and probably only for those contractors who have been in the business.

Yes exactly the business idea that most of you are calling requires a lot of capital to begin with and I think for somebody who is asking a question in regards economy because they have economy as a concern it means that they are not financially buoyant enough to go into a business that requires a lot of capital else they would not be concerned about how the economy is only how to set up the business because they have the money to do so. A food business is still one business that would flourish in any condition so long as you have a good recipe and your meals taste good people will come from any distance to come and have your meal so if you can set up a food business I advise you to do so because even in this economy it can flourish.

[sunsilk]

Tiktok is booming. I think that being an affiliate on it is going to be a good business but that's not easy to start with.

We see some marketers pushing people to become affiliate in it because the commissions are good if you sell a lot.

If you have that talent to attract a lot of customers then you'll be printing money but of course that comes with a talent too.

Before you can become a tiktok affiliate and work with brands, the first step is to build an account with clearly focused content, a stable following, and sufficient engagement. From what I have gathered, the typical requirement is around 5k to 10k followers, along with roughly 100k likes over the previous 28 days.

It is challenging and far from easy. But it is well worth trying because it does not require a large amount of capital, a degree, or specialized experience in a particular field.

You don't have to be an influencer to be affiliated with the brands. You can sell products that you don't own through their affiliate link and just get the commission after selling.

It's free for everyone and that's how it works these days. That's why you'd see online sellers who are not online influencers and they still get manage to sell products.

With the algorithm of Tiktok live selling, it's for everyone and all you have to do is be convincing and consistent to do lives.

[Perfectbaby]

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?

if I must say; this is directly subjected to your country and state of origin as most of the country are that difficult to start up a small business. For instance if you are from Nigeria it is that easier for you to start up a small business like, POS, boutique, fruit business and as well start up and a kind of petty trading.
But for the international countries they have their standards to allow and permit such a business.
In Nigeria, there are lot of business to start up with provided that you are focused on the type of business you want to venture into or has experience towards the business it would be that easier for you to start if you already had an idea toward it.

[blockman]

I recommend a civil engineering construction high rise building contractor work and same apartments selling real state selling purchasing work

I like real estate and apartment business. But this advise of yours requires a lot of money and probably only for those contractors who have been in the business.

Yes exactly the business idea that most of you are calling requires a lot of capital to begin with and I think for somebody who is asking a question in regards economy because they have economy as a concern it means that they are not financially buoyant enough to go into a business that requires a lot of capital else they would not be concerned about how the economy is only how to set up the business because they have the money to do so. A food business is still one business that would flourish in any condition so long as you have a good recipe and your meals taste good people will come from any distance to come and have your meal so if you can set up a food business I advise you to do so because even in this economy it can flourish.

Depending on the economy and right now if it's with the most of us, we see that everyone is having a hard time. So pushing a huge capital might not be the best decision now and if you're still new to it. While those who have been in that industry will have no problem doing that as that's already their bread and butter. I think food business is also a good one but that's hard in my place because there's so much competition in it and I don't want to compete with the locals here. I'm also a foodie and I know how it's a good business but I am not a chef to have that business for this economy.

[Hamza2424]

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 always wanted to start a business that I did not want to manage haha. I wanted a team to manage everything, and at the end of the month I wanted profit in my hands.

Which is the biggest mistake we all make while thinking of businesses, although I have learned another thing, that when we start a small business we risk more, while when we start a bigger business we risk less. Now I am learning what this line means and by that time I will tell you what it could mean.

Like in a small business your emotions, luck, and basic hormones needed for motivation are lower than when you are starting big. In a small business you could run out of many things and could have many problems, but with a big business the chances of success also increase, but I really don't believe it.

I believe only in the type of business, which can be anything. You just have to find that gap in your surroundings that other businesses are not filling.

[snowpega]

I always wanted to start a business that I did not want to manage haha. I wanted a team to manage everything, and at the end of the month I wanted profit in my hands.

There is nothing wrong with this because when you are managing multiple things at the same time, it is better to hire a good manager for your business. Good one that can lead your business to the moon height, not sea depth, haha. But before hiring any manager, I would recommend that we should learn every aspect of that business so that no one can betray us or steal our money.

although I have learned another thing, that when we start a small business we risk more, while when we start a bigger business we risk less. Now I am learning what this line means and by that time I will tell you what it could mean.

Like in a small business your emotions, luck, and basic hormones needed for motivation are lower than when you are starting big. In a small business you could run out of many things and could have many problems, but with a big business the chances of success also increase, but I really don't believe it.

I believe only in the type of business, which can be anything. You just have to find that gap in your surroundings that other businesses are not filling.

I disagree with this statement. You can also stand you low level bussnies as a successful empire, and it all depends on your way of managing businesses and strategies. You can scale both kinds of business into profits if you have good management skills of bussniess. And if you don't know how to scale a business well, then I can guarantee that you will always defeat on both kinds of business even it is a small or large business. Besides this, one thing is that when you are staring with small bussiness at initial stages, then the chances of losing money if loss, and if you are starting bussiness at larg scale with big capital, then the chances of losing money will be more. Big capital, big losses; low capital, low losses.

[Youngrebel]

I always wanted to start a business that I did not want to manage haha. I wanted a team to manage everything, and at the end of the month I wanted profit in my hands.

Which is the biggest mistake we all make while thinking of businesses, although I have learned another thing, that when we start a small business we risk more, while when we start a bigger business we risk less. Now I am learning what this line means and by that time I will tell you what it could mean.

Like in a small business your emotions, luck, and basic hormones needed for motivation are lower than when you are starting big. In a small business you could run out of many things and could have many problems, but with a big business the chances of success also increase, but I really don't believe it.

I believe only in the type of business, which can be anything. You just have to find that gap in your surroundings that other businesses are not filling.

I think i agree with you most especially with your last point. I think I can actually relate to wanting a business that runs without your daily involvement the truth is just that some of this successful businesses we see only reach that stage after the owner has spent year building systems, hiring the right people, and earning enough trust and he sees that yes they are thrusted people to do this then he can feel free not that free but a little bit because humans we can change at any time and disappoint so even while releasing your eyes need to be focused on the business.

[Chilwell]

Depending on the economy and right now if it's with the most of us, we see that everyone is having a hard time. So pushing a huge capital might not be the best decision now and if you're still new to it. While those who have been in that industry will have no problem doing that as that's already their bread and butter. I think food business is also a good one but that's hard in my place because there's so much competition in it and I don't want to compete with the locals here. I'm also a foodie and I know how it's a good business but I am not a chef to have that business for this economy.

I think you don't want to get involved in any business because if you are willing to, I don't expect you to mentioned you don't want to compete, in this kind of life we are living now if you don't want to compete you will never achieve anything good because it is all about competition everywhere and again maybe you don't know much about business. Competing with local is actually a very good advantage because you just check your environment and see how things are being done, most people prefer to buy with people that are well organized and once you decided it, I am very confident that you will achieve a very good results.

Food business is a very good business which everyone must buy and no matter how the people surrounding the food business they must still have sell, food is the most important thing in life which human beings cannot do without it, so getting yourself involved in food business is the most successful business i ever see

[Cgrexp]

You said it right, before starting it's better to study first what's the demand from your area, even you have the capital and you have the idea it's always best to seek for more details, if you can sort those neighborhood of yours they are the one who can give you good idea if what particular business to open, as they are the first line of your target as your projected clients that will help you to explore and succeed with your plans.

This is why some business minded people start a business and close down less than a month, because they don't do market research and what is in demand from there area location. You are going to see a person set up a business because he saw the business doing well in another place, even if the business is standard and I'm offered a franchise in my location, if people are not going to be demanding that product, in not going to sell that Franchise.

There is something that kills business too, you can have business that is good, very demanding and people will like like but economy can make you regret starting the business. There are people that has abandoned their business because the government implemented some policy and make some improvements to things that make business so unbearable to them and left with no option but to end the business and focus on other things.

That's a good point, as there are many business owners who rely their hope with the success of other owners thinking that duplcating or doing a franchise will lead them to that same level of success, it's very important to do your research and assess things before jumping to conclusion and same with what you said, government rules also have some factors that affects businesses and with unhelpful requirements owners ends up closing and not to pursue with their goals, knowing that it just a waste if they will proceed and there's none that they can gain because of those rules and implemented taxes and fees that they need to cater.

If we imitate others and start a business, there is no guarantee that we will be successful. Success in business comes based on market demand, product quality, and so it is important to assess risk management in business. There are many reasons why a business can suffer losses, especially if there is poor planning, insufficient capital, and demand decreases with market changes. Therefore, a businessman has to make decisions considering the market situation, financial plan, and product demand.

[abhiseshakana]

Depending on the economy and right now if it's with the most of us, we see that everyone is having a hard time. So pushing a huge capital might not be the best decision now and if you're still new to it. While those who have been in that industry will have no problem doing that as that's already their bread and butter. I think food business is also a good one but that's hard in my place because there's so much competition in it and I don't want to compete with the locals here. I'm also a foodie and I know how it's a good business but I am not a chef to have that business for this economy.

I think you don't want to get involved in any business because if you are willing to, I don't expect you to mentioned you don't want to compete, in this kind of life we are living now if you don't want to compete you will never achieve anything good because it is all about competition everywhere and again maybe you don't know much about business. Competing with local is actually a very good advantage because you just check your environment and see how things are being done, most people prefer to buy with people that are well organized and once you decided it, I am very confident that you will achieve a very good results.

Food business is a very good business which everyone must buy and no matter how the people surrounding the food business they must still have sell, food is the most important thing in life which human beings cannot do without it, so getting yourself involved in food business is the most successful business i ever see

Not all F&B business automatically profitable, because higher demand mean higher competition. In this economy, F&B business which still promising is  alow overhead business such as cloud kitchen, take away food, home production food and product with strong branding will still be has loyal market. These model allow us to spend more on product quality and marketing rather expensive space. Expensive dine restaurants with high fixed cost and high entry capital not relevan in these economic situation.

Such my daughter experiences building japanese streetfood dessert, she doesn'rely on customers coming in,she only serve on takeaway and delivery from house which is low overhead cost. Even she also open an outlet but turn over from house kitchen is bigger than outlet. After 2 years her mochi product be the best mochi in my city and can produce 200-300 piece on weekday and double on weekend. On this third year she just start do online marketing in case her product goes viral she is not overwhelmed in producing. So her decision selling specialized product make her brand ease to remember and has high repeated order. If you strat food business choose a product that can be scale up and easy for make an SOP so we can extend our business by opening branch, partnership or franchise.

[Franklyn-wood]

I always wanted to start a business that I did not want to manage haha. I wanted a team to manage everything, and at the end of the month I wanted profit in my hands.

Which is the biggest mistake we all make while thinking of businesses, although I have learned another thing, that when we start a small business we risk more, while when we start a bigger business we risk less. Now I am learning what this line means and by that time I will tell you what it could mean.

Like in a small business your emotions, luck, and basic hormones needed for motivation are lower than when you are starting big. In a small business you could run out of many things and could have many problems, but with a big business the chances of success also increase, but I really don't believe it.

I believe only in the type of business, which can be anything. You just have to find that gap in your surroundings that other businesses are not filling.

I think i agree with you most especially with your last point. I think I can actually relate to wanting a business that runs without your daily involvement the truth is just that some of this successful businesses we see only reach that stage after the owner has spent year building systems, hiring the right people, and earning enough trust and he sees that yes they are thrusted people to do this then he can feel free not that free but a little bit because humans we can change at any time and disappoint so even while releasing your eyes need to be focused on the business.

There are many business that one can start that will bring profit depending on the environment the business is situated will determine how far it will last.
Before going into any business, it is important to study the business doing personal research about it like targeted audience, location that suits the business,brands and choice of the customer.
Before a business will grow one have to gain the trust of his or her clients, this makes it difficult for them to go else where, because at this time they will feel insecure when you are not available for them.