Oddly enough (to a guy at least!) one business that maintains and actually can pick up during a recession is: cosmetics!
Here are some example articles though I originally heard this on CBS news: here is one example from Japan, and here’s a quote from TIME on the subject…
One reason is that cosmetics companies are suffering from their own promotional success; many women now regard cosmetics as necessities to be bought all the time, rather than as luxury items to splurge on when incomes rise. That attitude helps to keep cosmetics sales from falling during a recession, but prevents them from rising as fast as sales of some other goods during a boom.
Another thing that comes into play is that cosmetics can be rationalized as “small luxuries” as opposed to larger expenditures like clothing.
So if you’re starting a new business in a recession, it may be that cosmetics is a field you should consider if you enjoy using them yourself… that way you can always buy at a discount if nothing else!
Grant Anderse on March 18th, 2009 at 12:49 pm
There is an article that downsizing is the new business module for 2009. People are shrinking so as to cut back on costs and expenses so that their cash flow will still be stretched for the next few months. We need to keep ourselves afloat in this economic tough times. I do agree that pushing yourself to find innovative ideas are great starters in creating business for yourself. Though the chances are quite slim nowadays.. for me i rather find a job with established companies rather than opening up on my own, due to the high risks and responsibilities. Look for jobs on the internets and branding yourselves in viral websites would be great in this tough times. I did that recently with onecubicle.com, just kinda bump into it while looking for jobs on the web. Whatever your plan may be, wish you all the bests.