Sourced from http://www.business-opportunities.biz/2019/02/28/industries-thrive-economy-falters/
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Recent history has shown that economic bubbles burst and cash booms go bust. Though the economy is doing well right now, it is helpful to look toward the future.
For those interested in opening up a new business, here are a few safe bets in the event of an economic downturn.
Law Firms
During the last recession, firms that specialized in bankruptcy, foreclosures, and debt collection were in high demand. What’s more, even a commercial real estate lawyer can find plenty of work when the economy sours.
This is because, generally speaking, people don’t hire lawyers when times are good. They tend to seek legal counsel during the less-than-ideal chapters of their lives. While it may seem vulturous to count on this as a source of income, lawyers provide a vital service to the community.
Therefore, so long as you’re doing your absolute best to represent your clients, there’s nothing wrong with viewing the … Read More