Businesses with smaller budgets for marketing continue to rely on small business consulting professionals for outside help. But in the face of worldwide recession, who are the clients that need small business consulting? Let’s take a look at some of the recession-proof businesses which may need your services.
Most surveys indicate that the following small businesses continue to thrive and even experience growth during a recession:
High on the list of businesses that do well during the recession are dental health services, followed by other health professionals and health care specialists. This seems to be consistent with a market trend observed in food industries that experience an increasing demand for healthier foods and those that promote wellness. When disposable income is low, consumers tend to go back to basics, foremost of which is the value of health.
Accounting and Bookkeeping services
Maintaining financial records remains a necessity regardless of the business climate. All businesses, big or small, need to keep a good accounting of cash flow and revenues that constitute the lifeblood of a company.
The role of legal professionals and paralegals is increasingly important during economic downtimes as businesses and individuals need the services of lawyers to provide legal advice, enforce contracts that may have been breached, collect unpaid obligations or draft contracts.
Financial investment services
Investors nowadays are looking for safe vehicles to invest and grow their wealth so they turn to financial advisors to help preserve wealth and create multiple passive income streams for them.
Equipment rental and leasing
Capital purchases may have been put on hold with slashed budgets but companies turn to equipment rentals and leases instead of acquiring new equipment for business.
Service professionals in the following fields also experience continuous demand and growth during the recession.
- architectural and engineering services
- vocational schools
- instruction services (dance, music and sports instructors, driving schools and martial arts studios)
- personal care services
- other professional and technical services ( veterinary services, photography services, and translation services)
Services you can provide
Many of these businesses are still offline and are seriously considering getting a website for marketing and advertising. As a business consultant, your role will be diverse: helping them get a domain name, setting up a website and getting a hosting provider, supplying content, creating sales copies, optimizing their web pages and maintaining their websites. These are huge opportunities with lots of growth potential. There are businesses that remain profitable during the recession and one of them is small business consulting.