Profiting During a Recession

By Staff Editor | September 23, 2024

While the current recession certainly has an impact on most businesses, there are actually ways that some businesses can benefit from the current difficulties. As Dr. Mike Walden, the North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, says:

” When you have recession, people are going to change some of their spending habits. For example, typically we see during a recession people buy fewer new cars. That means they’re keeping their existing cars longer, and that probably means they’re going to need more repairs on those existing cars. Also look at construction. Construction often shifts during a recession from building new homes to people staying in their homes and perhaps remodeling. So remodeling may go up.”

College towns may find the economic downturns helping them as well. As VSU Associate Professor of Economics Cindy Tori points out, “If you have a business that can tap into that student population it’s going to help you position yourself for that recovery.”

Related posts:

  1. Turbulent Times "Everything is overpriced," said Harry Rady, chief executive and portfolio manager of Rady Asset Management. "A very long, protracted recession is still very much alive."...
  2. Investigators Warn: Stess Tests Not Enough However the panel also said that the Fed’s most pessimistic scenario was not far reaching enough....
  3. Do Investors Get Unbiased Research From Wall Street? The question Hymowitz dealt with is whether Wall Street analysts are biased in their research and whether there is conflict of interest when coming to conclusions about the investments they are encouraging their...
  4. Finance Weekly Profile: Alan Quasha Alan Quasha is an expert at restructuring companies, and has been for the past 30 years....
  5. Looking for a Tax Haven: Try Delaware, USA The American state of Delaware was ranked first as the most opaque tax haven by the Tax Justice Network....

Comments are closed.

« | Home | »