Recession-proof side hustles
There is no denying that a recession can be a challenging time, but it can also be an opportunity to start or grow a side business. Here are a few side hustles that have proven to be effective during tough economic times:Online Selling: E-commerce platforms like Amazon and eBay make it easy for anyone to start selling goods over the internet. With more people shopping online due to the pandemic, now is a great time to start an online store. Consider selling items that are in high demand or seem to be trending. You don’t necessarily have to create something new, just think of a new way to market it.
Freelance Work: With many businesses cutting back on expenses, freelance work can be a great way to bring in extra income. Freelance platforms like Upwork and Fiverr have been designed so that individuals can easily sell their services to clients around the world. From writing and graphic design to virtual assistant work, there are a variety of opportunities available.
Delivery Services: With more people staying at home, delivery services like Instacart and Uber Eats are in high demand. Consider signing up as a delivery driver to earn extra cash in your free time.
Pet Sitting and Dog Walking: With many people facing financial hardship, they may be less able to afford expensive pet care services, leaving a gap when it comes to pet sitting and dog walking. This can be a low-cost start-up with just a few pet supplies and a love for animals.
Tutoring and Teaching: With many schools and universities going virtual, there is a growing demand for online tutors and teachers. If you have expertise in a certain subject or skill, consider offering your services to students and learners in need. This can be a flexible side hustle, as all you need is your laptop and a bit of time to get started!
These are just a few examples of side hustles that can be effective in a recession, but there are plenty more options out there. The key to success with any side hustle is finding a niche that matches your skills and interests, and putting in the effort to grow and market your business.
However, we are aware that it can sometimes be difficult knowing where to start; that’s why we created Topia Plus. Our expert coaches will be with you every step of the way, ensuring that your side hustle is making you money in no time. You can then input your income into the Topia app and watch it accelerate your journey to financial independence.
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