Essay: Kinds of businesses that can thrive in a poor economy

22 Oct

Essay: Kinds of businesses that can thrive in a poor economy

Sample Essay

There exist very limited kinds of business that can thrive in a poor economy. They include financial advice firms, credit insurers among others. Despite the poor economy, the existing business can thrive upon making wise management decisions. The poor economy makes many business to closedown while others merge in order overcome the challenges brought about by the economic crunch. The main cause of closure of business is due to inability to repay the credits.

More so, in a poor economy, consumers mostly purchase the basic goods while doing away with luxuries. This means any business dealing with luxury products is likely to be affected adversely while the businesses dealing with necessities are likely to be favored in a poor economy. Among the businesses that have been affected adversely because of poor economic decisions, include JPMorgan Chase.

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