26 Best Small Business Ideas to Start in 2022
From 2020 to 2027, there is an expected compound annual growth rate of 3.9 percent. If people aren’t out buying new cars, you can best believe they’re doing everything they can to take care of the ones they have. Cars inevitably need maintenance as they age and have more miles put on them, even during a recession. Plus, as long as the freight industry continues to remain strong, there will be a need for servicing on big rigs and delivery trucks. Fortunately, you can find ways to make money during an economic downturn, such as by starting a business. In other cases, a business might provide critical services that people can’t do themselves. For example, people can cook for themselves but still need to visit a doctor for medical care.
- When Matej Kukucka, founder of Marketing Player, worked for a customer service software company during the pandemic, he noticed a lot of growth.
- Our findings provide essential practical implications suited to help enhance the owner-manager and small business resiliencies in the face of exogenous crises such as the COVID-19 pandemic.
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- The sales volume was 10 – 20 orders a month initially and it gradually grew to 30 – 50 orders a month.
- If your business has seen immediate impacts, look for ways to support your client needs or diversify your products and services during this time.
Real estate even proved to be one of the most pandemic-proof businesses as the housing market boomed. Doing food delivery or grocery delivery can be an excellent, flexible way to make money. One of the best ways to survive a recession is to start a recession-proof business. However, consider investing in recession-resistant stocks consider investing in recession-resistant stocks if you’re still getting your business. If you start or run the right type of business, you could thrive during periods of financial stress. Of course, people will continue to have to buy pet food and treats for their furry friends.
You can see many celebrities using the application for various purposes be it for educating people and spreading awareness or the subtle joy of doing everything and nothing on the app. If you unleash an MVP of the app like these in the market now, you’ll be one step ahead of the competitors. Recent events have limelight that people are now more willing to spend on streaming subscriptions. Since the world is on lockdown, people are reaching out to these entertainment mobile applications to pass the time.
By drawing on a psychological perspective, our study provides a novel conceptualization of small business resilience at the person-role-organization nexus. Second, by drawing on the concept of psychological resilience (Fletcher & Sarkar, 2013; Kong et al., 2015), we introduce a novel psychological perspective to the study of organizational resilience. To the best of our knowledge, our study is the first to draw upon a psychological perspective to examine firm resilience. However, in the entrepreneurship literature, entrepreneurial resilience has been largely used as a metaphor and not sufficiently explored empirically (Chadwick & Raver, 2020). The few studies focussing on individual resilience in small firms have linked entrepreneurial resilience with small business survival and resilience (Branicki et al., 2018; Santoro et al., 2018). However, small business resilience has not been explored from a psychological resilience perspective, which has a pure focus on the individual. As clarified by Branicki et al. , entrepreneurial resilience is not the same as the psychological resilience of the individual.
Online Retail Store
These classes can be taught online, in-person or even filmed and put on YouTube. If you really take off, you can even work with local distillers to create your own brand of liquor or a mixer.
Using an Order and Pay system will allow you to take orders and payment in advance of delivery or collection, and provide more accurate projections. This also allows you to create personalised communications with customers based on their order history with exclusive discounts and notifications. Your payment platform will help with preparation and organisation by allowing you to know what exactly you need to cook, in what quantities, and therefore prevent https://www.bookstime.com/ food waste and increase overall profit. You can bulk buy ingredients, batch cook meals and separate into even portions for customers. You may want to create a set menu, and offer package deals so you can sell your food in bulk. Additional expenses include packaging, which can also be purchased in bulk and will likely be included in the customer price. These can be delivered directly to the customer or collected from an allocated collection point.
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But there are numerous small and midsize businesses that don’t have this privilege. The lockdown is turning the employee-sharing model into a business trend. If it proves cost-efficient, it will become standard management practice. pandemic proof business ideas ’s Ruth Bender and Matthew Dalton call “the fastest reallocation of labor since World War II.” The staff from the non-essential sector is moving to the businesses that remain in operation, strained by the lockdowns.
For this reason, aspiring restaurateurs might find more success with a food truck. A background in care and hospitality can go a long way to support housebound seniors who require in-home care. According to the Population Reference Bureau, between 2020 and 2060, the 85-and-over population is projected to triple from 6.7 million to 19 million.
Food and Beverage Delivery Service
In case you need some assistance or expert’s advice on how you can transform this into reality, we are here to help. Economist stated, “Online health care helps patients and medical workers—and will be a legacy of combating the novel coronavirus”. Moreover, downloads will reach 183.7 billion, i.e. 9% more from the forecast made before COVID-19. Using eating and drinking as a coping mechanism, humans need to eat—which makes a food or beverage-related business one of the most “inelastic” industries ever. Suffice it to say that most people are not buying luxury clothes, accessories, cosmetics, and other small items during a recession. If they’re indulging in retail therapy at all, they’re being reasonable about it—which often means buying secondhand or on consignment. People are always applying for jobs, whether they want to make a career shift, increase their pay or switch work environments.
- Accounting assistance will have an understanding of where these tax benefits can be an advantage.
- And while some people can tune up their vehicles on their own, many of us aren’t capable of doing the same.
- Being said that, let’s look into some ideas for a mobile app and business.
- Lawn care and driveway sealcoating can work hand-in-hand, because they both improve the curb appeal of the client’s property.
- But you don’t need millions of followers to do it—Instagrammer Kat Gaskin, for example, pulled off a $10,000 product launch with only 3,000 followers for her brand, The Content Planner.