by Natalia Jones

Created on: September 01, 2009

When the going gets tough, the tough try to pinpoint those businesses that can handle the pressure. Less than ideal economic circumstances don't mean that all opportunities pack up and walk away. On the contrary, some businesses thrive during difficult times. To be successful you need to be alert to the trends and ensure that you are investing your time and money in a venture that has the potential to give you a return.

The following businesses are most likely to survive and maybe even thrive in a recession.

Little luxuries

Especially during hard times, people need to feel like they can still have nice things, and the psychology behind it makes a lot of sense. If you could no longer afford to have extravagant dinners once a week or take a family vacation, you may think it was alright to get yourself a little dessert or maybe a nice lipstick to pick your spirits up. The item is comparatively really affordable but it does the job of making you feel a whole lot better. Businesses that center on affordable luxuries such as cosmetics, desserts and even designer jeans have been known to do really well in tougher times.

Fast food

Fine dining may take a hit in a recessionary climate but fast food chains usually record profits, because people will still like to have the option of eating out when they can and they also provide a practical option for those times when you are really in a crunch for time.

Repair services

In hard times the instinct to preserve what we can instead of tossing it out to make way for something new is escalated. People try to save a buck or two where the can, so they call the repair man a lot more often than when the good times roll in and they can afford to drive down to the store and pick up a replacement.

Freelancing services

Freelancers provide a much cheaper alternative to small businesses than hiring full time staff. If you are unable to find a job in your industry, try marketing yourself as a freelancer instead and see if you get any bites. The new outlook will also make you feel a lot better about yourself and take the sense of gloom out of your aura which just may work wonders for your ability to attract work.

Stay to get away

The travel industry usually takes a beating in down cycles, but businesses that can market their services to locals as an affordable way to spend their vacation days just might be able to outlast the storm. Staycations are actually growing in popularity because people are putting off plans for more exotic vacations because of the uncertainty surrounding job situations or simply a lack of funds. Sometimes knowing how to adjust your marketing efforts to suit the times can mean the difference between success and failure.

Things are never all bad. If you are searching for a business opportunity and seeing only negative forecasts, maybe its time to put on your rose colored glasses and take a second look.

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