Hard-Time Home Business Start-Ups Bemidji MN

Small business owners with less overhead expenses are more likely to survive these downturns, gaining customers large companies have been forced to leave behind. In lean times, entrepreneurs also tend to support one another, supplying services and/or joining forces to collaborate on projects.

Northwest MnSBDC
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Hard-Time Home Business Start-Ups

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Businesses That Thrive When the Economy Does Not
By Priscilla Y. Huff

Despite continued rises in unemployment in this slow economy, businesses, organizations, and individuals still need ongoing professional support and counseling services, health care, and maintenance and repair services, for example, as well as food and energy-saving products and more. Savvy entrepreneurs assess what markets recessions create and start home-based business to provide the products and services currently in demand. Small business owners with less overhead expenses are more likely to survive these downturns, gaining customers large companies have been forced to leave behind. In lean times, entrepreneurs also tend to support one another, supplying services and/or joining forces to collaborate on projects.

Whether you are forced by your current financial circumstances to find new ways to support yourself or your family, wish to fulfill an entrepreneurial dream, or are determined to only depend on yourself for future earnings, here are twenty-five home-business ideas to consider that have potential growth even in difficult economies:∗∗

Note: Professional associations are primarily networking organizations and usually do not offer start-up information. Include a business-sized, self-addressed, stamped envelope with any “snail” mail correspondence.

1. Auctions, Online Broker/Assistant

People looking for quick cash or getting rid of unwanted items, but lack the time or the know-how sell their items at online marketplaces, will pay commissions to professionals to sell their items on the Internet. Most online brokers specialize in the items they sell.

Success Tips: Know the value of your clients’ items and the best sites to sell them. Use recommended software for tracking online listings, for bookkeeping and billing, and to record your consignor’s information and contracts. Depending on local traffic regulations, decide if you will pick up your clients’ items or have them brought to your home-business location.

Suggested Resources: ∗Selling Beyond Ebay: Foolproof Ways to Reach More Customers And Make Big Money on Rival Online Marketplaces by Greg Holden.∗www.auctionbytes.com/ - online-auction industry news.

2. Barter Network

When money is scarce, people use bartering more often to exchange goods for services or vice versa. Start an exclusive online network, enabling your clients to make their bartering transactions between one another, or arrange periodic meetings at set locations where people purchase tickets for the opportunities to barter in person.

Success Tips: Local barter networks are often more successful as participants prefer to see tradable items and meet the people with whom they are bartering. Work to build trust in your network.

Suggested Resources: ∗International Reciprocal Trade Association ( www.irta.com /) – Standards, information. ∗National Associatio...

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