July 24, 2019
6 business opportunities that thrive even during recession
As bad as they are, recession is a bitter reality but the real question here; is it as bad as you think? Whether you accept it or not, recession help in rectifying the economy and make people more careful than spending overwhelmingly.
And for selected industries, economic slump boost their business and even present an opportunity to expand their current service extensively.
When speaking of recession, perhaps the first thing to cross your mind is the UAE! Letâ€™s have a look at Dubai business opportunities that thrive even when the sun sets over an escalating market.
Whether fiscal market is slow or burning the track, people as well as businesses have to pay their taxes and balance their finances. Itâ€™s tougher especially in such desperate times but more important to keep a check on financial checks.
With this, accountants are likely to remain on a high demand as people and small businesses are always in need of a professional to gauge their taxes for better outcome. Accountants donâ€™t just look after tax benefits but have a clear understanding of income and expenditures with a tightened cash flow.
- Healthcare service
People are always in need of medical assistance making healthcare service a niche that doesnâ€™t change no matter how severe a recession. Due to this, healthcare industry canâ€™t afford major downsizing as compared to other industries. Speaking of Dubai business opportunities, initiating a healthcare facility with all the latest equipment and advance infrastructure would guarantee a long-lasting profit even during recession.
- Financial consultants
Individuals and businesses having sufficient investment in assets want to ensure theyâ€™re secured even during economic slump. So financial advisors are there to rescue you and are often regarded valuable where concerns over investment stability escalates.
- Automobile repair & maintenance
In a tough economy, people are least likely to purchase a brand new car and instead prefer maintaining the old model. This is the best time for automobile repair and maintenance service to make the most whereas their services are required all through. Itâ€™s a business that witnessed tremendous growth across the UAE especially in Dubai.
- Home maintenance stores
Just as you wouldnâ€™t prefer buying a new car during recession, the same goes with a home. Even with real estate being a primary market in the UAE, people would rather prefer maintaining their homes and repair the typical appliances. This is a pro opportunity for home maintenance stores to come forward and offer their exceptional services. Itâ€™s a chance to earn a healthy income for home maintenance staff serving the market.
- Property management companies & rental agents
Individuals who canâ€™t afford buying a home during recession or others who were forced to sell theirs due to fiscal constraints need a place to live. Theyâ€™re likely to approach property management companies, landlords or rental agents thriving even in the tight season. And you might end up with the best deal as well as an appealing option for those unable to take on mortgages.
So the next time when a recession hits, let the above business opportunities keep you in a safer zone.
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