Businesses you can Start in a Tight Economy

Businesses you can Start in a Tight Economy

As home prices drop, and the market continues its downward spiral and instability, there is a growing number of people facing job losses and wiped out retirement accounts. Many are looking for additional sources of income. The following is a list of home business ideas that illustrates business possibilities open to those who are interested in starting their own low-cost business from the convenience of their home.


* Answering Service – Many small businesses depend upon an independent service to receive their telephone calls, take orders and messages, forward calls and make appointments. If this job interests you, your start-up equipment will require a separate phone line and telephone for each client’s business. If you take on as many as ten clients, you should invest in a switchboard or computer system to answer calls.

* Bookkeeping Business – If you’re good with numbers and understand bookkeeping practices and software, a home bookkeeping business may be right for you.You don’t necessarily need a degree in accounting, but you should know Generally Accepted Accounting Principals (GAAP). The ideal candidate for this job would be someone who has worked for a company that required her to maintain the books, giving her lots of good experience. Home bookkeepers can earn from $25 to $50 an hour, and even more depending on the area and the services you can offer.

* Children’s Day Care – Many people find working with children to be the most rewarding job imaginable. To decide if this is the right job for you, you’ll need to check with your state’s requirements to see if and when a license is required. You’ll need patience, people skills, and a home or separate building with space to spread out. The more children you enroll, the more skilled child care workers you’ll need to assist with them. Be sure to check on the references and experience of those you hire, and don’t forget to do a criminal background check.

* Computer Repair and Maintenance – Some people have a definite talent for computer technology, repair and maintenance skills. Enhance this with a degree or certificate, and you may find this to be your niche. Besides a high degree of skill at diagnosing and repairing delicate systems, you’ll need to be patient and diplomatic. The owner of a non-functioning computer can require an extremely calm and professional approach. However, you can average $40 per hour and up, depending on the time you want to invest.

* Errand Business – Those in the errand business may work for both personal and business clients. They do grocery shopping, bill paying, gift selection and any other reasonable errands that clients require. You’ll need a well-maintained vehicle, good organizational skills, and familiarity with the area (a GPS would be a nice add-on for the business). You can choose to charge by the hour or by the errand. Your price will require you to calculate gas prices, car maintenance and other expenses. Still, you can expect to make up to $35,000 yearly in your start-up period.

 * Nutritionist - As a nation, we are paying more attention than ever to what and how much we eat. This makes the nutritionist business very appealing to those with a particular interest in diet and health. The traditional nutritionist must complete at least one college degree program and become certified and/ or licensed by the state. Alternative health and wellness practitioners belong to a rapidly increasing occupation. You can choose an MLM business, such as Shaklee Corporation, or you can work with clients to create plans for weight loss or dietary management of a particular medical condition. Many online and campus-based programs offer a wide variety of alternative nutrition programs.

* Personal Fitness Trainer – This is another business that has taken off in the last few years. Those in the field can add nutrition counseling, motivation, and other enhancements to the basic exercise regimen. While one-on-one training is what most of us visualize, most personal trainers work with groups of four to eight people several times a week. To be effective as a personal trainer, you should have a working knowledge of human anatomy and musculature, an outgoing personality and a body that is an advertisement for your skills. A college degree in physiology or physical education would be very helpful -- some course work and a certification are minimal requirements. The National Commission for Certifying Agencies (NCCA) offers many types of certifications, depending on your abilities and preferences. Your income will depend on time invested and your personal reputation in the field. Typically, a one-hour session with one client will run from $65 to $200.

Any of these business ideas can be started from home. On the other hand, you may decide that you want your business to expand with employees working under you. That’s the great advantage of all of these start-ups. They offer flexibility, and with the application of effort and skill, an increase in your personal income in a tough economic time.