The Top 5 best new business models….

In these tough economic times, businesses are tested to their limits. Consumers are risk averse: they only want to deal with firms they know and trust. The upside of this is, people will do business with companies if they believe they’re going to stick around for a while.

But if you want to start a business in these unusual time what sector should one choose ? We have compiled the Top 5 best new business models list below….

1. Online retail

Advantages include – low set up costs, low running costs and the potential to garner a broad client base. If done well, it’s virtually immune to economic change.

With no high street overheads to speak of, no geographical or time restrictions and no need to display stock, online retailers are not only the shopkeepers of the future, they’re also the ones cleaning up right now.

2. Pound shop

It’s recession time, and customers are cutting back on expenditure. High street units are emptying across the country. If you want to set up shop and you’re keen to avoid risky ventures, you can’t go wrong opening a store full of bargains.

3. Luxury goods

High-end products, from luxury holidays and designer handbags to artisan ice-creams, are defying the consumer spending slump. Back in the downturn of the nineties, Haagen Dazs did a booming trade; your business could be the surprise luxe success of this recession.

4. Domestic tourism

With the pound down against the euro and the dollar, and job-security at an all-time low, it’s likely holidaying abroad will be a low priority for Britons this year.

Whether you have plans for a budget B&B or your eye on a seaside hotel or campsite, now’s the time to get listed in holiday guide books. Similarly, bus tour operators, historical guides, hiking and adventure organisers – and those running local culture and music fairs – should plan for a busy summer.

5. Green and ethical business

Demand for green goods remains high, and the rising cost of energy and other resources means that eco-friendly business makes good business sense. Investment in green goods, such as energy-saving light bulbs or solar panelling, saves the consumer money in the long run.

So there you have it. We feel that all 5 are realistic options in this current finance and business climate, so maybe its time to take the plunge.

Good Luck and of course if you need a website; you know where to come.

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