Editor’s note: This article was first published in August 2010, in the middle of the Spanish recession, with rising unemployment and the credit squeeze. The whole piece describes that moment.
With unemployment soaring and money in short supply, it is clear that sales at some businesses have fallen sharply. That has led to the return of small businesses that can be set up with little investment. These businesses won’t make you rich, but in a recession they can help you get by.
1. Buying and selling gold, banknotes, old coins, stamps…
Some people kept their collections of old coins, banknotes or costume jewelry tucked away in a drawer, and what better way to raise some quick money and turn valuables into cash. The business of buying and selling all kinds of old objects, and above all gold, has had its best years, with private customers settling for less money than they could have got. Pawnshops have grown alongside it.
2. Shoe repair
This sector hadn’t seen this many customers in a long time. Lovers of quality footwear have gone through times when they would rather repair their shoes than spend a lot of money on new ones. The same goes for boots, belts and so on. This small business has undoubtedly had a good run.
3. Car repair
Every repair shop agrees that these have been golden years. With the tap of loans and personal credit turned off, it has become harder to change cars every three years, leaving us no choice but to repair the old one. On top of that, insurance companies no longer require you to have servicing and repairs done at the official dealer, so the small independent garage has had its big moment.
4. Hairdressing
A hair salon can be set up in your own home, and it has been the way out for many women when their husbands found themselves out of work. Hairdressing brings in cash and has low running costs. Some have even taken advantage by offering appointments on Sundays, something that used to be hard to find.
5. Greengrocers
According to one study, the small greengrocer’s has been by far the fastest-growing small business in Spain. A greengrocer’s can be set up in your own garage, and it is another business where cash comes in quickly. Even though fruit prices have gone up, the small greengrocer has been able to compete.
6. Second-hand shops
There have never been so many small shops offering this kind of service. They clearly provide a good service and help a lot of people get by. In these shops you can get a television for €20 (not the latest model, of course), sofas, mattresses, deep fryers, hair dryers and practically anything else, saving more than 90% of the price you would pay new.
Whoever sells the item to the shop gets money on the spot, and whoever buys it benefits from the price and gets a temporary fix.
Not to forget the return and growth of businesses selling scrap metal, cardboard and old furniture.
Further reading
- Business ideas around fitness and personal care
- Business ideas in leisure and tourism
- Clothing business ideas
- How to start a business with no money
- The only secrets to becoming a millionaire
Featured image: Petar Milošević, CC BY-SA 4.0, via Wikimedia Commons.
.jpg){kind=link}