4 Business Ideas to start during 2023 Recession

4 Business Ideas to start during 2023 Recession

It may seem foolish to start a business during a recession, but it can actually be a good time to do so. When other industries are attempting to save money, industries with less competition can thrive. In this article, we will examine 23 businesses that can be launched immediately to generate a monthly income of at least one thousand pounds and potentially much more.

Profitable Business Ideas For The 2023 Recession

1. Examine Credit Card Statements

One possible business is reviewing clients' credit card bills to save them money, then taking a cut of the savings. Now more than ever, people are looking to cut costs, so you can offer your services to your friends and others to help them do so. You can also assist them in finding replacements for cancelled subscriptions. Offer assistance for a fee of 20-50% of the amount saved to individuals with high credit card bills, such as £5,000 or more.

2. Content Remixer

Offering services to convert videos and podcasts into blog posts, tweet threads, and LinkedIn posts is an additional business opportunity. You can select a group of creators who are not among the top 10 and who offer two distinct services. Level one involves simple repurposing, charging for multiple platforms, and taking a performance cut. Level two entails providing overall strategy consulting, advice on content buckets, and exposure-enhancing recommendations based on analytic data.

3. Shrimp Reproduction

Shrimp breeding is an unconventional concept. It can be a lucrative business, despite its odd appearance. You can earn approximately £90 per shrimp per month, and they are extremely inexpensive to purchase individually. Once you have a tank and the shrimp, which will cost between £200 and £300, you can begin breeding. Cherry shrimp appear to be the easiest to breed. After purchasing a dozen shrimp, you can read up on shrimp breeding conditions and watch a YouTube video on the subject.

4. Social Media Management

Lastly, social media management is yet another business opportunity. As more people than ever before use social media, businesses require assistance managing their online presence. Small businesses that cannot afford a full-time social media manager may be interested in your services. You can offer monthly content creation, posting, and analytics services for a fee.

Conclusion

In conclusion, starting a business during a recession can be advantageous because there is less market competition. With the aforementioned strategies, you can earn at least 1,000 pounds per month and potentially much more. Consider your skills, interests, and intended market when selecting a business concept.

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