8 Businesses Defying the Downturn of the Global Economy
For many people, the recession of 2007-2008 is still fresh on their minds. Going through another downturn, and so soon, would be dreadful. However, terrible policies and unnecessary political confrontations between nations could plunge the world into another recession.
And it’s not like we’re not feeling the effects of a slow global economic growth, already. Several countries have seen their projections contract.
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However, some business sectors have shown tough resilience in the face of unpredictable economic outcomes. Here is a look at some of those industries and the lessons they can offer on flexibility, and why venturing into one of these particular categories could keep you safe from a serious downturn during a future economic shakedown.
1. Trucking
The growth of the trucking industry is strong — especially in America. Trucking is responsible for 70 percent of the U.S. freight sector. A primary way to ascertain the strength of any industry is the number of jobs it’s created. Truck Driving Jobs currently lists more than half-a-million jobs available.
And that figure doesn’t even take into account the other, indirect jobs this industry creates, such as the mechanics servicing the trucks and employees of the companies selling the trucks and their parts.
2. Virtual learning
When the economy slows, people strive to improve their skills, to find better job opportunities. This is where virtual learning comes in. This industry provides the education needed by people seeking to advance their careers in a tough and competitive business world. It just doesn’t have the brick walls.
A 2015 growth forecast projected that the elearning industry will exceed $107 billion.
3. Ride-hailing services
Uber operates in more than 500 cities around the globe. In a 2015 Business Insider report, Uber was described as the world’s biggest employer, offering 50,000 driving jobs per month. The rise of Uber in the ride-hailing industry has seen several competitors build up around this over-$40 billion dollar industry.
What makes the ride-hailing service particularly attractive is its receptiveness to the technology ecosystem. The most advanced tech companies in the world today have made important contributions to this industry. Even a hard-hitting economic recession is unlikely to its solidity.
4. Online marketplace for homes
From real estate to hospitality — think Zillow and Airbnb — online marketplaces are increasing their staff strength to accommodate exploding growth. Airbnb was famously born out of two founders’ difficulty in paying their rent. It has since grown into a multi-billion dollar business relied on by families that want to put empty guestrooms or whole homes to use.
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This sector sees increasing growth. An example is an online marketplace dedicated to manufactured homes, where home sellers do not need to worry about a location before commencing construction.
5. Contract blogging
Blogging is a business that offers several income opportunities. More businesses are moving to include content marketing in their growth strategy or plan to increase content-marketing budgets. Being a blogger means you may well see several businesses competing for your work.
6. Ecommerce
As buyers cut down the number of times they visit brick and mortar stores, in favor of discounted online shopping, ecommerce businesses will see their growth increase. The rise of ecommerce has seen several big-name stores close their outlets.
This development means more ecommerce stores will open in more countries around the world, especially in developing countries where demand is still high.
7. Online sports betting
One of the largest sports-betting platforms, Bet365, boasts of having more than 10 million players. Data from Statista shows that the online sports-betting industry may well top $53 billion dollars by 2018.
8. Online marketplace for professionals
As the gig economy shifts online, and more people get connected to businesses via the internet, online marketplaces for professionals will see increased growth.
We can thank LinkedIn for the rise of this business model. What supports the growth of this business model is that job-seekers and employers alike embrace it. For example, The Sawaya Law Firm, based in Colorado, encourages its attorneys and lawyers to use professional marketplaces to connect with more people.
Related: 3 Proven Ways to Grow Your Business Without a Lot of Money
The unpredictability of our economy will see more customers embrace the notion of lower-cost but still experienced online professionals. And these professionals will be less vulnerable to the economy, come what may.
Ayodeji Onibalusi
Ayodeji Onibalusi is an inbound marketing expert and advocate of high quality digital marketing. He has over five years of experience helping companies create winning content distribution strategies. You can check out his company…
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