Opportunies in Dark Times

A lot of people are talking about jobs these days, or rather I should say about the loss of them. Yesterday, I received the report for regional and state employment and unemployment figures for December 2008. This is a month on month comparison by state and tells a grim story about the increasingly gloomy employment picture. Only one state, Louisiana, and the District of Columbia reported an increase in employment, with one state, Oklahoma, not experiencing any major job drop offs. Louisiana is still recovering and rebuilding from Katrina and the District of Columbia was preparing for the inauguration of a new president, so these figures may very well be different next month.

It also makes comparisons to last year, which look only marginally less bleak. Wyoming (+2.2%), Texas (+1.5%), Oklahoma (+1.0%), Alaska(+0.9%), and South Dakota (+0.8%) are the top five of eight that had higher employment figures than this time last year. These may be the best places to find work in the coming year. And then Rhode Island (-4.5%), Arizona (-4.3%), Idaho (-4.3%), Michigan (-4.1%), and Indiana (-3.7%) all experienced the greatest declines in employment. If you live in any of these states and are looking for work, you might have to move.

That said, I got an e-mail about ten opportunities to pursue in the current economy. It was from an online legal site that I was considering using to make up a closed corporation, but I was a bit leery about doing anything through them as it was praised by Rush Limbaugh. Nothing against Rush personally, but I'm not a ditto-head. Anyone who might have some advice on this?

But... back to the ten top businesses to start in a sluggish economy.

1. Financial Advisor: Yes, you heard me... don't make me repeat myself! In uncertain times like these, people need solid advice more than ever. Those "financial advisors" that were there in boom times and are no longer there are on their way to prison (Bernie Madoff) or out there trying to find other work. Those that kept their clientele above water, and saw the way the markets were moving are the ones to talk to. There are a couple of financial advisors on this blog that can give you some great advice. And no... I'm not getting paid to write this.

2. Business Coach: To compete in a tough economy, businesses need to become ever more efficient. If you are a whiz at cutting costs and increasing bottom lines, this is the job for you.

3. Beer Distributor: Yes!!! I mentioned this in a previous blog. Beer is a plebeian drink, and it is less expensive than wine or cocktails, unless you're in South Africa. There are wines here, good wines too I might add, that are available from under $4 a bottle (decent wines also under $3) at current exchange rates. Perhaps importing South African wines could also become lucrative? I would be happy to speak to someone with capital...

4. Reusable Water Bottle Sales: Because of the scares about Bisphenol A and other chemicals that leech into water from plastic bottles, they say bottles containing no BPA will become more in demand. I don' t know about this, but certainly people have taken more and more to bottled water, so why not.

5. Green Café: This is a great idea! Some restaurants here in Cape Town feed their food waste to worms, which create mulch that can be either sold or used to grow organic herbs and vegetables. Oh, and that used fryer oil can be turned into diesel fuel. Here in Cape Town, it is used by people in the Cape Flats as a source of fuel.

6. Consignment Shop: Doesn't require a lot of start up and is part of the whole reuse, reduce, recycle mantra. Personally, I know of one, Bona Celina Resale Boutique‎, that caters to wealthier types in the Minneapolis area.

7. Automotive and Appliance Repair: Simple really. People are fixing up their cars instead of buying new. Same goes for other major appliances. Another area that may be a growth industry in this same vein is providing information for people who want to fix things themselves.

8. Auto Salvage Yard: Low on funds? I've gone digging around in auto salvage yards for parts before to save money. Again, this goes along with reusing...

9. Residential Real Estate Appraiser: Huh? Well... with all the foreclosures, I guess this will still be a useful profession.

10. Home Healthcare Services: Baby boomers are aging, and they need health care. Home healthcare is a booming industry, and it's a less expensive option than hospital treatment.

(Originally published at The Creating Wealth Blog on 1/27/09)