Although a lot of people are afraid to start a business during a recession, it's probably a very good time to do so, because lots of big companies have downsized and are less able to service their clients like they should, and they often have to contract out their work to smaller companies.
And other big advantage is that a new and very small company has over the big guys is that if you make a mistake then it won't cost very much, whereas just imagine the cost involved in having to recall tens of thousands of cars, or appliances or whatever.
So if you've been laid off, or are already unemployed then this might be exactly the right time to start up a small business, and you might well have almost everything that's needed, and will only have to invest the smallest amount of cash to get things rolling.
And don't be overly concerned that the present economic climate means that it's not the right time to start something, because economic turn-downs most likely offer more pluses than minuses to those that want to start up something small but lucrative, and 92% of existing entrepreneurs say that they started their businesses without ever considering the economic climate.
When you first start out you'll more than likely be a one man or woman band, or be doing it with a family member or friend, and you won't be burdened by, enormous marketing fees and things like HR costs, and what's more, you'll be able to adapt to market changes much faster than the big boys.
There are as many different businesses that can make money as there are stars in the sky, and which one would be right for you will depend on, start-up costs if they're needed, your available time and most importantly, choosing one which matches your natural talent.
It's highly preferable that you enjoy the thing that you're going to spend a lot of time doing, and hobbies are therefore always great things to turn into money making ventures.
Antiques, coin collecting, stamp collecting, comics and first edition books are all ideas that immediately come to mind, but nearly every hobby can be turned into a real money maker.
If you don't have a specialist hobby, or don't think you could make any meaningful money from the one you have, then the next requirement is that the business be based on something that you do well, or have a particular affinity for.
Nine Ideas For Small Businesses That Require Almost No Investment
1) Animals
If you like animals, then either having them in your home whilst the owner is away, or visiting the owners house to feed and walk them etc. can be very lucrative and the start up cost is next to zero, and should require nothing more than placing ads in local newspapers, or on trees.
* The NAPPS (National Association of Professional Pet Sitters) says that in-home pet-care is one of the fastest growing industries in North America today.
2) Computer Repair
If you know how to repair computers then it's a sure-fire way to make money, because most people have no idea what to do when their computer won't start, they get a virus or can't get onto the Internet. There's hardly any profit in selling software, and not much more in selling hardware and the real profit is in repair which you can do at home or at the customer's house.
3) Selling On eBay
Related to #2 above is selling on eBay and it's good for people that feel comfortable working on computers, but you also need to have a good feel for market prices and to be able to spot a great deal and to be able to buy it fast. Lots of people now work full time on eBay and make a very good living from it.
4) Auto Repair
What happens during a recession is that people either hold onto their cars for longer than they normally would or they buy a used car, both of which are good news for somebody that knows how to fix cars.
If you're an enthusiast then you most likely have a lot of tools already, but it's likely that you'll need to buy more, and having a place to make the repairs will obviously need to be taken into consideration as your neighbors won't take kindly to changing their street into an auto repair shop.
5) Yard maintenance, Landscaping And Snow Clearing
Depending on the time of year and where you live, it's obviously possible to make money from mowing peoples' lawns and even real gardening and landscaping if you have a flare for it, and clearing snow in the winter is hard work but pays well, and none of the forgoing involve any real start up costs.
6) Heating, Air Conditioning And Appliance Repair
I've lumped the above three things together because someone that's good and doing one of them can probably do all of them and they're all good money makers. If somebody's fridge or freezer stops working and the food inside starts defrosting, then the owner isn't going to nickel and dime you about the cost of a visit, and if the outside temperature is dropping or rising fast, then the same goes for heating and air conditioning.
7) House Cleaning
Cleaning other people's houses might not sound like fun but where there's muck there's money, and it's no longer just the rich that hire somebody to clean once a week or month. Most people seem to have less and less free time rather than more and more, and if you really clean well, then you'll have a fast growing business and will most likely soon be hiring help.
8) Light Haulage
What I'm talking about here is not a moving company, but a business that transports things that won't fit into a regular car or that people don't want to put into their cars, like yard waste, trash or compost etc.
A simple ad in the local newspaper and maybe at the supermarket will soon get people calling you and the money's good, but you'll need a suitable vehicle and a cell phone.
9) A Local Delivery Service
Similar to #8 but for clean things that will fit into a local car, and quite a few people have been making good money from this recently, especially if you're willing to pick things up during regular shop hours and drop them off when people get home from work.
How you should handle the tax side of things is beyond the scope of this article, but it goes without saying that most of the money from all of the above ideas will be cash, and you should be able to make at least reasonable money from all them.
The bottom line is that they're all far better than sitting at home unemployed and feeling useless, and they all make money and can be done at a time of your choosing, and not somebody else's.
