Posted by: Roni Deutch Staff | July 8, 2008

10 Small Businesses that are Excelling in Today’s Economy

1. Tax Preparation

As we all know, the only things certain in life are death and taxes. As the United States population continues to grow, and the tax code gets more and more complicated, there are always going to be people who need their tax returns prepared.

2. Discount Stores

Today almost everyone is looking for a way to pinch a penny, and by opening a discount store you can cater to these potential customers. Any type of store that can offer a service or product at a significant discount is likely to attract these frugal customers and succeed in today’s economy.

3. Check Cashing

It is getting harder and harder for anyone living paycheck to paycheck, and some times everyone could use a little extra help between pay days. Check cashing, or payroll advance stores can help these customers while also providing a handful of other useful financial services.

4. Computer Repair

Nowadays almost everyone has a computer in his or her home, but most have no idea what to do when a problem arises. If you are the person who friends always come to for computer help, then this type of store could be perfect for you! And with rising gas prices, you might also want to consider a mobile service for people who do not want to drive to your store.

5. Debt Relief

When the economy gets worse, more and more people find themselves in debt with no possible way to get out. By opening a debt relief consulting business you can work to negotiate with creditors to lower your clients total debt. Not only will you be helping people who are struggling with their finances, but you can also get a hefty commission for those you assist.

6. Job Placement Agency

As unemployment rates continue to rise, people are frequently turning to job placement agencies to help find employment. If you are a people person, with a knack for helping friends find jobs then this could be a business you could excel in.

7. Home Repair

Everyone knows that record foreclosures are driving the economy down, but this does present a unique business idea for anyone that is handy around the house. Frequently when a homeowner forecloses on a home they will take anything of value and leave the property in very poor condition. By opening a home repair business that focuses on foreclosure restoration you could market to both banks and people interested in purchasing foreclosed homes.

8. Mediator

In an effort to save money any way possible, more and more people are turning to mediators to settle their disputes instead of attorneys. This type of business may be difficult to start and market, but once you establish yourself, there will likely be many customer opportunities.

9. Video Game Store

In spite of declining CD and DVD sales, the video game continues to exceed industry expectations. There are plenty of video game related franchises you could pick from, or you could even setup your own business plan based around video game sales and/or rentals.

10. Pawn Shop

Although this type of business might not be for everyone, there is a growing need in this country for honest pawnshops. In addition, by setting yourself apart from the traditional pawnshop reputation, you can gain trust from customers who will likely provide plenty of referrals.

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