5 Money Opportunities in a Bad Economy

If you listen to the media, you will hear disturbing news about how bad the economy is and how employees are getting more pink slips everyday. While we are in a down economy, there are opportunities for those seeking more income. from my perspective, the ideal business is easy to start, requires little start-up money and doesn't require managing a team of employees. In this article, we will discuss __ business opportunities that can thrive in a down economy.

Money Opportunity #1 - Freelance Opportunities, Especially Sales, Programming And Copyrighting

The coming decade may be referred to as the Age of the Freelancer. Thousands of people are being laid off every month. Many of these people decide to become Freelance workers. It can be a difficult transition if you've worked for others your whole life. But after the first job (and check) you'll be convinced freelancing is a great new way to work. There are freelance opportunities in every field and profession. If the economy goes south several freelance skills should be in high demand, including computer programming, network administration, web development, copyrighting, sales, marketing, human resources (specialty headhunters), legal consultants and lawyers to name a few. Visit websites such as eLance, Guru and other freelance sites.

Money Opportunity #2 - Select Import/Export Businesses

Import and export businesses are typically thought of as requiring large amounts of money to start and having huge inventories. But hundreds of entrepreneurs run successful import/export businesses from their home offices. The key is finding buyers or sellers of products and bring them together. One of the hottest Internet sites in the world is Alibaba. Check it out to identify products that are needed or wanted. You can start on a small scale and use profits to grow the size of your business.

Money Opportunity #3 - Used Automobiles, Discounted Mechanic Services And Other Trades

Plumbers, electricians, carpenters and heating/cooling contractors have all enjoyed the fruits of the real estate and refinancing boom. These guys have had a pretty good run. But most of the people that provide these skills are overpaid. If the economy turns down these skills will still be needed. But more people will be providing the services (because of job losses, professional burn out or whatever). Therefore market forces will prevail. The person that can provide these skills better and for less money wins. One area that will see resurgence in a downturn will be small neighborhood used car lots and discounted mechanic services.

Money Opportunity #4 - Homegrown Businesses, Especially Specialty Products And Services

If you've ever run a small business from your home you know how much fun it can be. Small Office Home Offices (SOHO) were looked down upon 15 years ago. They were considered "hick" and too poor to have a "real" office. But today it's considered cutting edge to work from home, with a telephone headset, T1 Internet connection and flat screen monitors. This trend is not going away. Homegrown, small businesses that should do well if the economy turns down include consulting, computer programming, network administration and network security experts.

Money Opportunity #5 - Mail Order And Direct Response Businesses

People spend less during economic downturns. That's one of the major factors contributing to deflation. But people don't stop spending. They just tend to spend less time at mega-malls if they know they can purchase similar products by mail. People tend to shop at home during bad times, especially if the price of gas reaches the $4.00 per gallon level. There's your opportunity! Products that should do well by mail order and direct response include vitamins, health aids, alternative medicine, clothing, sexual products, security products, books, and specialty information and gambling products.