What is economic recession? The U.S. based National Bureau of
Economic Research (NBER) defines a recession as "a significant decline in
economic activity spread across the economy, lasting more than a few months,
normally visible in real GDP growth, real personal income, employment, industrial
production, and wholesale-retail sales." Recession usually comes with a
lot of difficult challenges and pains for the masses but my reason for writing
this note is not to remind you of the pains which you might be going through
now but, to show you solutions and opportunities that are also associated with
recession.
Every problem that man encounters in life is an opportunity also.
For instance, when there is war, the victims suffer and die but the people that
deal in weapons and other supplies for executing wars will be smiling. So, in
this period of recession, while many people are crying because they lost their
job, or because the high cost of living has overshadowed their meager salary, there
are some people out there also who are really smiling and are actually
celebrating this period as the best of times for them.
So, it’s all about how you position yourself for a period like
this. Let me quickly remind you here that life is governed by some basic
principles. Just as there are principles that govern prosperity, so also there
are principles for austerity. These principles determine the way things work.
If the way you position yourself is contrary to the way things work, you are
sure to be affected negatively.
You will observe that during period of economic recession,
people’s ability to save or invest is greatly hindered and that is why so many
people do not invest at such season. In fact, they are even tempted and
compelled to spend up all their past savings and even eat up their seed.
I just want to remind you of the story of Isaac in the bible as
recorded in Genesis 26; you too can reap 100% by investing in some top business
opportunities that have the capacity to thrive during periods of recession. I
will share four (4) of them briefly here.
While deciding on the best type of business to start during a
period of recession, there are 5 major parameters that you must use to evaluate
the type of business. In fact, we always advise our clients to go for
businesses that satisfy these parameters because; such businesses will still
thrive even in periods of prosperity, recession, depression, meltdown, etc. These
parameters are as follows:
a.
CAPITAL REQUIREMENT: Think of ideas that you can
start with very limited capital (as little as N50, 000).
b.
LOW RISK: Avoid opportunity that has high
risk of losing all your investment. It might be very difficult to bounce back.
c.
NO OVERHEADS: Think of ideas with minimal
overheads (like home based businesses, no rent, no salaries, etc)
d.
WHAT IS THE DEMAND LEVEL OF THE
PRODUCT? If the
demand level is inelastic, that means, whether prosperity or recession, demand
is still high.
e.
Does the
business need any special kind of skill or educational qualification?
Now let’s quickly talk about the top 4 businesses that can give
you super profit during periods of recession.
1.
HEALTH AND WELLNESS BUSINESS: This is number one and will
continue to be on the top list, whether it is period of recessions or
prosperity. The Global Wellness Institute in their September 30, 2014
publication reveals that, the global wellness market was worth $3.4 trillion,
making it nearly three times larger than the $1 trillion worldwide
pharmaceutical industry. The study confirms wellness as one of the world’s
largest and fastest-growing industries. Also, Deloitte, in their 2015 Global
Health Care Outlook stated that healthcare spending is expected to accelerate,
rising from an average of 5.2percent a year in 2014-2018, to $9.3 trillion. Moody's
Investors Service, an international rating agency had also predicted that
global demand for healthcare products and services will continue to grow in
2016.
The major sectors of the health
and wellness business that are still experiencing great boom since 2010 are the
Nutritional Supplements and Weight Management Products (108 percent increase to
$276.5 billion).
2.
BEAUTY AND ANTI-AGEING BUSINESS: A living dog, the bible says is
better than a dead lion. As long as people are alive, they want to look good
and feel good. The Global Skin Care Industry is today worth US$115 Billion and
it is estimated to be US$147 billion by 2020 that is about 27.8% increase. That
is why this industry is a great opportunity for you to consider at a time like
this because it is also recession proof.
3.
ENERGY DRINKS BUSINESS: Can you mention the number of
energy drinks in our markets today? The number is increasing on daily basis;
you name them: Kparaga, Monkey shoulder, Kerewa, Kogbela, Ibile, Durosoke,
Dadubule, Action Bitters, Koboko, Ogidigba, Baby Oku, Pasa Bitters, Osomo, Alomo
of higher class, among others. In fact, the consumption of these products seems
to be higher in period of recession so, it is an industry that will continue to
grow. Today, the Global Energy Drink Industry is worth over US$49.9 Billion and
it is estimated to hit US$1 trillion worldwide soon.
4.
RECRUITMENT BUSINESS: The time of recession is usually
characterized with high rate of job losses and unemployment. So, if you are in
the business of helping people get a job, you are sure to be smiling to the
bank even during recession. All you need is the skill, the opportunity is
limitless. Many companies out there are seriously searching for skilled
personnel that can help them drive their visions. Do you know the irony, while
many young graduates in Nigeria are complaining that there are no jobs, many
organizations are also complaining that it’s difficult to find quality and
skilled personnel in Nigeria.
So, you can see that there are several opportunities that are just
lying there waiting to be tapped even in this period of economic challenges.
Remember that, these are businesses that you can start with as little as
N50,000 another good thing about these businesses is that you can run them from
the comfort of your home. The risk level is even almost zero.
According to John F. Kennedy, “The time to repair the roof is when
the sun is shining.” What really stops people in business is not the season or
the economic situation but lack of knowledge. You will always be hindered or
limited by what you don’t know. That is why, at THINKING MINDS INTEGRATED
BUSINESS SOLUTIONS, we focus more on solutions than problems because solutions
exist first before any problem.
You can be part of the growing number of youths and aspiring
entrepreneurs that we have helped to become proud business owners. As I
conclude here, don’t forget that, “As sure as the spring will follow the
winter, prosperity and economic growth will follow recession” Bo Bennett. So,
take advantage of our free consultancy and business support services today and turn
this period of recession into great opportunity.
To know more about the above mentioned opportunities and more,
contact us at: THINKING MINDS INTEGRATED
BUSINESS SERVICES
TELEPHONE: 08052833097,
09097917225
WHATSAPP: 08033291724
E-MAIL: thinkingminds@ymail.com
