Comments on: Week of February 7th, 2010. Digesting Economic Indicators

By: ncoco252

ncoco252 — Thu, 25 Feb 2010 20:32:18 +0000

Like a few have already said, it’s hard for new, unknown products to start coming out unless you can really show, instead of just telling, how it will save the buyer time and money. It seems like temp agencies and companies that post job listings like Monster.com would be actually doing very well. Monster is web-based, so enough people find the ease in using a website, rather than having to deal with waiting in lines and driving somewhere (which can end up costing lots in gas). Monster also has a great ad campagin that makes people remember the name of it. A website also isn’t as expensive as buying buildings and having more physical places of businesses (which I’m sure they have). Really, products are not need, but services are seen as time and money savers, which is what the unemployed people are looking for right now.

By: neka20

neka20 — Thu, 25 Feb 2010 03:00:33 +0000

To be honest there’s not many businesses that can offer a new product because lately most businesses has been slow and not a lot of people are shopping. But maybe a product that people can use.

By: crl1228

crl1228 — Wed, 24 Feb 2010 18:29:40 +0000

Because the state of our economy is so bad, it is hard for any business, no matter what size it is to prosper and make revenue. Since almost 10% percent of United States citizens are out of work, I think a new type of business that would most certain prosper would be one that would help people find employment. Another idea that could be a potential favorite in a recession would be any company that produces food. According to powerhomebiz, “The key is to customize your products to fit in your buyers’ shrinking budget. I feel that any food product company or any company for that matter that keeps their customers happy, while dropping cost would catch any recession consumers eye.

By: bull dog 20

bull dog 20 — Mon, 22 Feb 2010 00:31:27 +0000

My idea for a business that would do well in this economy is paper cellulose insulation plant.This business would turn recycled newspaper into cellulose insulation.My people are suprised to learn that cellulose is the most common building material in the world.There have been many cellulosic materials used over the years to insulate,including corn cobs,straw,cotten,sawdust,hemp and probably many more. Not only is cellulose insulation a great insulator with a high R factor(resistance to heat loss)this product has a long history of use in homes.This industry has over a half of century track record.There have been very few changes in this product over the years.There is a new light density mill that are now setting a new standard for this insulation.With state of the art machinery you could operate a small plant with as little as three men.I would hope to to find innovative ways to collect paper to make my end product.The companys recycling program would not only give us a way to become more active within our local community,but also gives you a way to conserve landfill spaces,educate children on the importance of recycling, creat a greener community and make a profit doing this.

By: FLIPME14

FLIPME14 — Thu, 18 Feb 2010 16:54:45 +0000

I think that this economic environment is of some benefit to new businesses. Something offering services to those who are unemployed would stand out more. Something that would stand out in these times would be staffing company or job placement company, a company that will offer something to those desperate people looking for work. Not just a regular staffing company though, one offering something extra to guarantee job placements for their clients. A company that offers some skill training and career building classes to enhance curriculums and in turn expand opportunities for those who have no opportunities at the moment. That, I think would be a good idea for a new business. Even though there is lots of job placement companies already up and running, I believe a new one offering more and doing more for their clients will stand out.
Now, looking at it from different point of view, if you have started a new business you have the advantage of finding good well qualified employees. Considering a new company doesn’t always have the resources to pay a very well qualified, educated employee, the unemployment rate is offering a better opportunity for this new company. Where a few years ago you might be paying a ridiculous salary for a qualified, educated person to work for you, you might not be spending as much now that the unemployment rate is so high. Because so many people are out there with the qualifications you can choose and be picky about what your company will offer. I have seen instances where an educated person, with a career, qualified for great jobs is working such a great job and isn’t getting a great pay but that’s the reality right now and new companies could use this to their advantage.

By: JPlourde

JPlourde — Sat, 13 Feb 2010 03:36:00 +0000

In general whenever there is high unemployment, long running recessions, and a general economic discontent among the populous there are three things people tend to turn to for temporal quietus of troubled minds and sooth of overstretched souls. These things prosper as such religion, liquor, and cheap entertainment (in fact the movie industry did not take off until the great depression mostly because millions of impoverished Americans were willing to spare a penny to forget their troubles for an afternoon, the ones that could afford it anyway). Another source of comfort for many during arduous times is religion, which is also an immense and tax exempt revenue generating entity that commands great numbers of devoted followers willing to part with their money upon if encouraged by their church. The combination of entertainment with the endorsement of religion (mostly Christianity in the U.S.) has proven in recent times to be a cash generating colossus, Kirk Cameron’s “Fireproof” earned $33,451,479 (Rotten tomatoes) on at budget of only $500,000 (CNN) simply because of endorsement by evangelical Christians. Further examples of this include “Passion Of The Christ” which made $611,899,420 on a budget of $30 million (wiki) while the biggest selling movie of all time “Avatar” has made $2,080,093,323 so far on a budget through not expressly specified is believed to be between $300-$500 million dollars (imdb), a simple analysis of these figures show that Fireproof made almost 67 times it cost, Passion roughly 20 times, and Avatar only about 4 times. Though these numbers are not always typical, entertainment that focuses on the religious niche generates exorbitant amounts of cash (not a new trend Christianity has always generated great sums of currency from selling indulgences to old time revivals to the medicasting chicanery of faith healing.) To attract an audience you must 1. Have something they want to see and 2. It has to be inexpensive to the consumer (also convenient helps). My proposition is to start a Christian version of Hulu that also includes user related content and some original content along with low budget movies and Christian television shows, it would be free to the consumer and run on a similar ad revenue model to Hulu (except religious programming is much cheaper than big budget tv and movies). Also Mormonism is the largest growing religion in U.S. currently and has a massive untapped market so if you did a similar site focused on Mormon programming it would likely see major growth. Of course I myself would never bring this idea to fruition as I find exploiting and manipulating the lack of critical analysis by any group through deep seated belief or fear for my own monetary gain to be somewhat unethical but that’s me.

By: scampers

scampers — Fri, 12 Feb 2010 23:40:26 +0000

I believe that small businesses geared towards service have an excellent opportunity to thrive in this economy. More specifically, I think that franchise businesses are an excellent way for a prospective new business owner to get their foot in the door and take advantage of certain demands for the different services and goods that they can offer. According to USA Today, there are over 1,500 franchise companies in the United States today. That gives plenty to pick from, but I believe the best ones would be service geared franchises such as IT/computer repair, hair salons, etc. These certain types of service businesses can continue to thrive even while consumers cut their spending, and franchises allow people to quickly and easily get their business set up. I truely believe that creating new small businesses are an excellent idea in this current economy, but new business owners should be careful to pick a business that is in demand.

By: numero6

numero6 — Fri, 12 Feb 2010 22:37:56 +0000

The high unemployment rate means that people are hungry for work, and as a new business owner this will be advantageous because there will be a larger number of people applying for every job. In this situation the employer can be more selective and only hire the best and the brightest, thus giving their business a better chance to succeed. President Obama, in a recent speech, said he wanted to give a tax credit to small businesses who hired new employees, this sounds like it should be good to help the unemployment rate, and also will help small businesses. Unemployment is stabilizing and consumers are going to feel more comfortable starting to spend money again but because we are just coming out of a recession I think it would be smart, as a new business owner, to sell products that are moderately priced and viewed as a good value. For example, people will be more likely to buy clothes from GAP than from Armani Exchange because although they are feeling more and more comfortable with spending again, the fear of the economy going back down again will hinder consumer’s willingness to buy high end, high priced items.

By: Bowtech12

Bowtech12 — Fri, 12 Feb 2010 16:02:13 +0000

I think that right now would be a great time to open an employment agency, that offers job skills training, life coaching services, personal image consulting, and resume writing services. During a time when the unemployment rate is close to 10%, people whose skills were once in demand are no longer needed. According to the Bureau of Labor Statistics, the labor force and trucking transportation industries have seen dramatic job losses, “Consequently when the demand for goods is stifled, the call for freight services is likewise sluggish.”. According to Money Magazine, Telecommunications Network Engineers, Systems Engineers, Personal Financial Advisers, Veterinarians, Senior Financial Analysts, are all expected to be the positions with faster job growth in 2010. With my new business idea, I believe that I can help those who used to work in another field, get the information and help they need to get into a field with potential, or atleast get them on the right track to getting back into the work force.

By: cquach

cquach — Fri, 12 Feb 2010 04:11:30 +0000

There are many ways new business can offer in this marketplace is to increase jobs for the marketplace. The Super Bowl game, I notice the commercials is about Monster.com, where they help people find jobs. For example, “Plans to tackle job losses come in two flavors: Tax incentives to encourage businesses to hire, and direct government spending to stimulate demand and boost payrolls. Both will add to the nation’s mounting budget deficit, which is expected to hit $1.6 trillion. The Obama administration has proposed a combination of tax breaks and direct spending, including a $5,000 tax credit and payroll-tax cut for companies that hire new workers, $30 billion to jump-start lending to small businesses, aid to state and local governments and programs for displaced workers.” This would help out with the situation