2009 does not seem to promise any grand prospect for business. With companies in practically all sectors downsizing and will continue to do so, surely, they can’t be any good business to be in.
Apparently some say there is. As some rightly say, when a problem comes, an opportunity arrives.
For the past 1 year, millions of employees have lost their jobs worldwide. And the number is set to multiply within the next few quarters. Economically powerful nations including the mighty US, UK and Japan are loosing their teeth over the financial turbulence, with all dragged into the recession after recording successive GDP growth contractions.
When people lose their job, they need a new one. But this new job may come with new responsibilities which may be nowhere close to what they have been doing before. They will be left with little option. So, to land the new job, they need to pick up new skills and brace for career transition.
As a result, companies in this ‘career transition’ business are thriving. As pointed out by Elaine Varelas, a partner at a company specializing in training and outplacement in Boston, it’s currently their busiest period ever. People keep on coming for their services, and bills are piling up. Some other companies in the same field are recording close to 40% increase in revenue in the past couple of months. It looks clear that this career transition field can be one of the best businesses this year.
Outplacement is a service that helps laid off workers to get back on their feet and find unemployment in other companies.
So, if you’re still thinking of what business to start in the year 2009, this can be an eye opener.