What good business to start in this current economy?

[tygeade]

I know that this is very boring and we are tired of seeing these "influencer bros" doing the same thing. But, I have seen people actually make money with this "build website for others" business. I know that it is not that common to see someone go out and sell a website, but it's actually very viable if you are a good sales person.

That means, you go to a shop that doesn't have a website, and then you offer them a website with it being already ready, so you show them what it will look like, and they pay you like I dunno 50 dollars per month? And you do this for hundreds of places, because you ask thousands of places. Most places are fine with fifty bucks a month, that's nothing to them. For you, you just need a pc, a laptop is better, and some Claude account on pro or even max, and then maybe some traveling option like a car, or a bile.

[Chilwell]

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.

My friend did what you said, he became an affiliate by marketing other people's products or companies by pioneering and now he manages to have a large income per day. With the beginning he spent his own capital to start but over time he got a lot of followers and his marketing videos were good, so now he is easy to get free products (samples) because maybe the company is quite confident in the account he has because it has a lot of viewers.

One thing most of us don't understand is that they only see social media has something that they can just get excitement from not knowing that you will be able to make a lot of money from it, this particular thing you are saying has been working for so many people especially that tiktok, a lot of businesses are running through that platform and honestly so many people are making good money from it.

At the beginning of every success there must be difficulties which is what your friend went through and he succeeded, some people really want to invest in any business they have opportunity of, but there are many issue here, is that they are always awaiting to see quick profit which is not done in the business that is new, this is why a lot of people are running away from business but all that is because they are lacking patience.

[yudi09]

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?

First, it depends on your expertise in a particular field.
Second, market opportunities with strong demand in your home country.
Third, the amount of initial capital you have.

In today’s fully digital environment, the online market is now more competitive than the offline market. People expect convenience and simplicity when purchasing products, unless they specifically need to visit a traditional market.

[Bright0515]

This depends on the place you live in, you can meet a business consultant to guide you on what to do and you can also do a survey to find out what the people in your geographical location needs. There are lots of businesses that people can do and I'm talking about the ones that aren't going to give you any sort of competition, the problem with a lot of people is that they think always do what others are doing because they think that it's the only type of business they can get into but they haven't opened their mind to the possibilities of trying other things. People can give you their suggestions but that doesn't mean that they would work for you.

[Nightwatchmare]

Looking for a good business to start up in this present economy is really not difficult, to me is basically a food business, like raw rice, beans, palm oil, frozen chicken and other eatable things. All you need to do is find a better location where people can see what you are selling, a better shop and make sure that there is a stable electricity. The reason why I said food business is better idea on this current economy is that, as we humans we will always want food whether the economy is good or bad, whether there is inflation or not we must eat, we can never live without eating no matter who you are, you need food to survive and continue your journey as humans.

[lombok]

Looking for a good business to start up in this present economy is really not difficult, to me is basically a food business, like raw rice, beans, palm oil, frozen chicken and other eatable things. All you need to do is find a better location where people can see what you are selling, a better shop and make sure that there is a stable electricity. The reason why I said food business is better idea on this current economy is that, as we humans we will always want food whether the economy is good or bad, whether there is inflation or not we must eat, we can never live without eating no matter who you are, you need food to survive and continue your journey as humans.

The selling of basic needs is a marvelous thought since everybody needs food on a daily basis. Desire to stay full will not be inhibited by inflation. Locating a store in a high traffic place will aid in the rapid selling of your merchandise. Make sure there is good supply of electricity to preserve frozen foods. All these businesses will make their owners a lot of profits.

[LogitechMouse]

Re: What good business to start in this current economy?

For me, there's no such thing as "current economy". The only thing that we have is "the economy".

All businesses can thrive, but there are different factors in it. The economy isn't the one that will decide whatever businesses will thrive and which are not because it will all depends on the person and good they are at business. I can sell let's say clothes right now, but I can't make any sales because I'm not good at business and not a good salesman as well. On the other hand, somebody out there can sell clothes and can make money because he's good at it. The economy doesn't care about what businesses you will start. The success of the business depends on how good the people around it.

Excluding the economy, there are some factors that they're considering if they want to start a business. Things like the season, the location, the amount of money that they have, how expert you are, the current trend, the current hype, the market, and many more.

[DanWalker]

Looking for a good business to start up in this present economy is really not difficult, to me is basically a food business, like raw rice, beans, palm oil, frozen chicken and other eatable things. All you need to do is find a better location where people can see what you are selling, a better shop and make sure that there is a stable electricity. The reason why I said food business is better idea on this current economy is that, as we humans we will always want food whether the economy is good or bad, whether there is inflation or not we must eat, we can never live without eating no matter who you are, you need food to survive and continue your journey as humans.

The selling of basic needs is a marvelous thought since everybody needs food on a daily basis. Desire to stay full will not be inhibited by inflation. Locating a store in a high traffic place will aid in the rapid selling of your merchandise. Make sure there is good supply of electricity to preserve frozen foods. All these businesses will make their owners a lot of profits.

In theory, selling essential item is a great idea because there is always strong demand. Everyone need food to survive. But the reality, it is not as simple as you two think because you are not the only ones in that business.
Selling food is not a new idea. Thousands of people have already thought of it and put it into practice before you did. So the idea alone is not enough. You need to be much better prepared, as you will face extremely tough competition.

Success in business requires more than just a good idea. You need to combine dozens of factor such as capital, suppliers, customers...and that's not easy at all.

[Fredomago]

Looking for a good business to start up in this present economy is really not difficult, to me is basically a food business, like raw rice, beans, palm oil, frozen chicken and other eatable things. All you need to do is find a better location where people can see what you are selling, a better shop and make sure that there is a stable electricity. The reason why I said food business is better idea on this current economy is that, as we humans we will always want food whether the economy is good or bad, whether there is inflation or not we must eat, we can never live without eating no matter who you are, you need food to survive and continue your journey as humans.

The selling of basic needs is a marvelous thought since everybody needs food on a daily basis. Desire to stay full will not be inhibited by inflation. Locating a store in a high traffic place will aid in the rapid selling of your merchandise. Make sure there is good supply of electricity to preserve frozen foods. All these businesses will make their owners a lot of profits.

You need to consider every factors that will affects your business that's the reason why before taking your step into it you must have broader knowledge about the business, more on the side where skills and determination are not alone but knowledge, research and executions are also important when starting a business, especially if you are aiming for a food type of business where there are things that you should understand and needs to consider to prevent losing you hard earned investment.

[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?

It's better not to start a business in the country where I live. New taxes are introduced every couple of months, and I've lost count of them. Previously, you were supposed to pay 13 percent and continue to grow your business, but now there's a whole list of these taxes. And the internet is full of videos of people who worked incredibly hard for months, and when they calculate all their income and expenses after paying taxes, they cry on the video. Because they still owe the middleman. It's strange and unfair.

[junder]

One thing most of us don't understand is that they only see social media has something that they can just get excitement from not knowing that you will be able to make a lot of money from it, this particular thing you are saying has been working for so many people especially that tiktok, a lot of businesses are running through that platform and honestly so many people are making good money from it.

At the beginning of every success there must be difficulties which is what your friend went through and he succeeded, some people really want to invest in any business they have opportunity of, but there are many issue here, is that they are always awaiting to see quick profit which is not done in the business that is new, this is why a lot of people are running away from business but all that is because they are lacking patience.

Right you say, social media today can be a source of income whether it is definite or not with the amount depending on how we can do it.
With one of them being tiktok which can indeed make us have income, I myself am trying it because yes I want to have side or additional income and from this I think that can be used, but still this is not as easy as imagined because there are challenges. But I believe if we are consistent then it can produce a positive direction.

[justdimin]

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's better not to start a business in the country where I live. New taxes are introduced every couple of months, and I've lost count of them. Previously, you were supposed to pay 13 percent and continue to grow your business, but now there's a whole list of these taxes. And the internet is full of videos of people who worked incredibly hard for months, and when they calculate all their income and expenses after paying taxes, they cry on the video. Because they still owe the middleman. It's strange and unfair.

The point of starting a business in a nation that is not doing well, is because the corruption and bad people at higher positions will make sure they take all you have. I had a friend who owned a business, and people from government came in to check his accounting, which is normal because you have to do that to make sure people do not evade taxes.

The next day, someone else came in and asked for money "or else", literally the next day. He had no cash, but the dude KNEW that he had how much in the ban account. It's clear that these people are selling information of your bank accounts to strangers, and get a commission from it. If your nation is corrupt then there is no reason why you should be working to build something there.

[BALIK]

Looking for a good business to start up in this present economy is really not difficult, to me is basically a food business, like raw rice, beans, palm oil, frozen chicken and other eatable things. All you need to do is find a better location where people can see what you are selling, a better shop and make sure that there is a stable electricity. The reason why I said food business is better idea on this current economy is that, as we humans we will always want food whether the economy is good or bad, whether there is inflation or not we must eat, we can never live without eating no matter who you are, you need food to survive and continue your journey as humans.

Finding business ideas is not difficult because you can find countless business ideas simply by typing keywords into Google.

In business, the hardest part isn't the idea, but turning that idea into a business that can survive and make a profit. Many businesses fail not because of bad ideas, but because they could not run it efficiently or compete in the market.

Food is always in demand, but that alone does not mean everyone who gets into the business will succeed. If selling food was enough to make a profit, we would not see so many restaurants and food shops shutting down every year. Success depends on location, investment capital, costs and the ability to adapt to the market.

[Olatundespo]

One thing most of us don't understand is that they only see social media has something that they can just get excitement from not knowing that you will be able to make a lot of money from it, this particular thing you are saying has been working for so many people especially that tiktok, a lot of businesses are running through that platform and honestly so many people are making good money from it.

At the beginning of every success there must be difficulties which is what your friend went through and he succeeded, some people really want to invest in any business they have opportunity of, but there are many issue here, is that they are always awaiting to see quick profit which is not done in the business that is new, this is why a lot of people are running away from business but all that is because they are lacking patience.

Right you say, social media today can be a source of income whether it is definite or not with the amount depending on how we can do it.
With one of them being tiktok which can indeed make us have income, I myself am trying it because yes I want to have side or additional income and from this I think that can be used, but still this is not as easy as imagined because there are challenges. But I believe if we are consistent then it can produce a positive direction.

TikTok is a good platform for earning potential but you have to spend a lot of time behind it and create new ideas to increase views which is not easy at all. Most of the videos you see on social media are consistent with others which can be boring. You need to create something that will be completely different and will delight the viewer and inspire you. I used to spend a lot of time on YouTube and upload videos. Initially, there were many viewers but gradually it started decreasing because in recent times people have very little time and they prefer to watch short videos. You can use any convenient platform to earn but you have to be consistent and work hard towards that work. Many people do not succeed even after coming very close to success due to lack of patience.

[coinrifft]

Nice, that's actually zero capital at first but it's the hardest. Because you'll get zero followers, zero reputation and no one will view your vids.

But thanks to the marketing if ever you've got some capital ready and you're already gaining traction, that's the way to go.

Good marketing is important in promoting other people's product and that's how you'll earn your commission from their products.

Yes, in our country tiktok is really booming, you can sell or be an affiliate if you don't have a product to sell. But then it will take a lot of effort and other strategy to sell and they are asking for a lot of documentations if I'm not mistaken, for tax purposes.

So it's not that easy as it sounds. But once you get the secret, then everything will be like a cash cow and printing money for you. So just like any other business, you might start small and slow and grow eventually.

[Chilwell]

Right you say, social media today can be a source of income whether it is definite or not with the amount depending on how we can do it.
With one of them being tiktok which can indeed make us have income, I myself am trying it because yes I want to have side or additional income and from this I think that can be used, but still this is not as easy as imagined because there are challenges. But I believe if we are consistent then it can produce a positive direction.

TikTok is a good platform for earning potential but you have to spend a lot of time behind it and create new ideas to increase views which is not easy at all. Most of the videos you see on social media are consistent with others which can be boring. You need to create something that will be completely different and will delight the viewer and inspire you. I used to spend a lot of time on YouTube and upload videos. Initially, there were many viewers but gradually it started decreasing because in recent times people have very little time and they prefer to watch short videos. You can use any convenient platform to earn but you have to be consistent and work hard towards that work. Many people do not succeed even after coming very close to success due to lack of patience.

This is why it is very important for us to always think ahead of time so that it can make us level up with the top marketers, tiktok is a very good platform which I see a lot of people are making it, but honestly it is not as easy as the way we watch those clips and which I absolute agree with you that they are spending so much time to build all those content, that time is necessary because you are building something that will convince millions of people definitely it is not going to be easy, everyone is just looking for a way to survive which they are a lot of people that take this content creating as a permanent job for themselves just to earn a living.

Everything have advantage and also have disadvantage, social media have their own advantage if you used in a very fantastic way and also have disadvantages if used in a very negative direction and that is why a lot of people are jumping into social media just because they see what others are getting.

[boyptc]

Food is always in demand, but that alone does not mean everyone who gets into the business will succeed. If selling food was enough to make a profit, we would not see so many restaurants and food shops shutting down every year. Success depends on location, investment capital, costs and the ability to adapt to the market.

Not everyone who enters in the food business becomes successful. It's a tough business that has a lot of competitors.

Having delicious meals won't be enough and people would look for what's worth the buck. I think the margin in the business is quite low and someone who's looking entering into it shouldn't enter if they are into profit.

Because these food businessmen are passionate of what they do and one of the satisfying reasons why they are into it is the reaction of their customers with the little margin they get.

[henmark]

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?

People do not have money, so I agree that something free would be great. Nobody thinks you should build the next big social media, sure we had facebook ,then isntagram, then tiktok etc, lets not try to build the next one, not all of us can, the success rate is low.

But anything free would be perfect, you could sell subs for premium stuff later on, but anything free that you do, would be better. If you try to charge money to people, make sure it's cheap. The world is poor, if you do something that many people wants, then you can sell it easier, and if it's free, then convincing people to give it a test is even better.

Today, I would just build an AI website that generates images, and offer it for free, yes it would cost, but ads should cover it, and just limit people instead of asking for money, make it free , too many places do not even give free tests anymore, they just charge right up, but if you build a free AI for a specific thing, it would actually be great. Like do "similarweb" website, but with AI, or do "market research" but with AI, do whatever, and people could just join your website and research and pay nothing and ads would cover it.

[juttsab@]

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.

I agree with you that for starting a business we need to have experience capital and location but I don't think that current economy can be ignored. Always the economic condition effective cost, inflation, consumer spending and demand for the product and services. A business that have good idea and it has strong management it can still struggle when the economic conditions are not good when there conditions are not favourable or during a recession but they can grow, also not every successful business sells everybody everyday.  There are companies who are offering education technology luxury product they are successful because they are also solving the special problem for people and they are meeting the changing customer need,  in my view I think that success come from understanding the current market and having the adaptability to economic conditions.

[uneng]

Services which deliver ready goods for people. Food is the most demanding niche which always worth investing. Cleaning services are also a good idea. Have in mind that people are lazy these days and want to make less effort as possible through daily tasks.

If you can supply them that way, you will be in profit and high demand.