You know, experts can’t agree on whether 2025 will bring an economic downturn. Many would say such economic uncertainty is a bad time to start a business—but they’re wrong.

Half of all fortune 500 companies, from Apple to Uber, were launched during economic uncertainties, so you’re in good company.

In fact, I’m going to go over 20+ businesses to start, and your first 3 steps to do so, but here are 4 reasons why this is the BEST time to do it:

First, downturns historically mean more government and investor support to stimulate jobs and growth. This means, you’ll find more lending or grant opportunities to help you launch. (BTW, if you want 18 ways to fund your business, click here.)

Second, costs drop—everything from labor to materials to marketing becomes more affordable, especially with ongoing rate cuts.

Third, uncertain economies create new pain points and needs that brand new businesses, who are better able to pivot, can solve.

And most importantly? Less competition. Freelancers take 9-5s, or businesses scale back or shut down, leaving space for you to step in.

Truth is, uncertain times separate the wantrepreneurs from the entrepreneurs. Meaning if you’ve got the guts, this is your time to get the glory.

So let’s talk industries and businesses that shine in any economy. Read to the end to find the one that’ll work for you.

And if you’re new here, I’m Tara Wagner, a lifelong entrepreneur and accredited small business consultant helping real people build real businesses. Check out my free class, Profits, Not Problems to learn my unique approach.

The top industries in uncertain economies, according to multiple resources are as follows:

Taking these industries into account, let’s now look at the best type of business to start in 2025.

#1 Healthcare – you might not want to run out and become a doctor but think about opportunities such as caregiving. Those needs don’t change in an uncertain economy, and many of the skills needed for it are easily accessible.

#2 Consumer Staples – food, personal care, household items…also not going anywhere. Think about everyday items you use and how you JUST wish you could find one that _____. With things like Amazon FBA, and inexpensive manufacturing costs, this can be a great time to run with that idea you’ve been sitting on.

#3 Auto Repair and Maintenance – you might not be a mechanic, but you can be a business owner who consults with and hires skilled mechanics, and creates an auto service company that clients don’t hate?

#4 Home repairs, maintenance, or renovation – if you have trade skills, or can hire those who do, you are in demand. My own husband owns a construction company and has seen how many skilled workers are about to retire. Many, including ourselves, predict this shortage in trades will lead to great wages as demand outstrips supply, so consider taking your love for gardening or home painting, or your time in the union, and turning it into a trade business.

#5 Pleasure industries – when economies slow and people feel the stress, we seek out two things: pleasure and pampering. One side of this is called the lipstick effect, where sales for inexpensive luxuries like lipstick will skyrocket in downturns. The other side of this can be anything from alcohol and cigarettes or other…pleasures. You don’t need to go out and sell your bathwater on OnlyFans, but do think about products or services you can offer that are either inexpensive and simply exist to make a person feel less stressed during stressful times.

Service based businesses of all kinds will be the easiest to start and even scale because they have less overhead than product-based, can often be built through word of mouth, and can rely on your current skill set.

In fact, start by looking at your skills, then asking Who out there pays for my skills?. If you’re not sure, ask in the comments below. Or consider these questions:

1. Like we were saying before, Do you have a skill in a trade? – carpenters, handymen, electricians, and so on… if you have the trade skills, all you need are the business skills to back them up. Remember, you can be good at what you do, but that doesn’t make you good at business. Programs like my Breakthrough Boss can help you there.
2. Do you have any skills or experience in professional services? – maybe you’ve worked in HR for years, or can debug computers, or know your way around Canva…you don’t even need to be the best of the best to start…you just need to be able to do something a potential client can’t do. So do an inventory of your own skills, what comes easier to you than most, and start from there.
3. Do you have an aptitude for something others don’t? – for example, maybe you love to cook, or you find every typo in any book you’ve ever read, or you excel at high school math. Even without much professional experience, if you’re willing to keep sharpening that aptitude into a skill you can charge for – like meal planning or proofreading for self-published authors or tutoring – you could have yourself a business. Ask yourself what you can do and who would be willing to pay you for it. 
4. And if you have no skills at all, you still have options… – you could pet or house sit, walk dogs, scoop poop, run errands, or even get hired to be a companion to a homebound person or to act like a homemaker to a working person. Or if you have the ability to watch a YT video, you could learn how to clean anything, or turn any interest into a real talent. Truth is, just because you don’t have the skills now, doesn’t mean you can’t gain them. Sure it takes time…but that time is gonna pass anyway. Let’s make sure you’ve used it to get somewhere better. 

Here’s the truth…You can start almost any business in almost any economy. It’s much less the economy and much more your tenacity, your attitude, and your skills that will determine your success.

Like I said before, a person can be good at what they do but that doesn’t make them good at business. So how do you make sure your business will survive? With these FIRST 3 steps:

Step #1: Don’t skimp on market research. I hear from business owners who feel like they waste time researching instead of just jumping into their idea. But good market research will show you who to market to, how to market to them, what to sell them and how, what your price points should be, your branding, your messaging, all the way down to the exact words on your website. It literally is what makes or breaks the success of your business. In fact, poor market research is on every top 5 list of why businesses fail, so whatever you do, don’t skimp on this one.

Step #2: Once you’ve done that research, spend time to Create a solid business and marketing plan. Ben Franklin said, “If we fail to plan, we plan to fail.” A solid plan eliminates second guessing and a lot of wasted time and money, especially if it’s built on that solid market research. Hint: posting on social media is not a marketing plan. And it’s not right for all businesses. A complete marketing plan includes 5 different stages with different tactics for each, and social doesn’t always need to be one of them. I’ve personally helped multiple businesses earn over 7 figures without any social media. And in my programs, I show you how to determine what should and should NOT be in YOUR plan, so you don’t burn out on the wrong stuff. Marketing especially is where the majority of your energy will go as a business owner, so get skilled in building a business and marketing plan that will work for you, not against you.

And Step #3: Once you have your business and marketing plan in place, it’s time to Get your legal ducks in a row. with things like your Business tax ID, Financial accounts, Payment processors, and more. 

Notice in none of this did I say go out and start taking action, which may make you think you won’t be making money anytime soon. But if you learn to do this through someone like me, this whole process can take as little as a few weeks and can bring in your first payments before your business plan is even finished. And it ensures that the months to come are profitable faster. In fact, my clients are profitable within months, not years. 

If you’d like to understand how I do this, check out my free class Profits, Not Problems where I correct 5 mistakes business owners are encouraged to make, and show you the 6 skills you must master. 

Just remember this: It’s your tenacity above all else that will determine your outcomes. If you want to start a business, don’t wait for the conditions to be perfect, because everyone else will be too. Do the things others won’t do to have the success others won’t have. 

Comment with what business YOU want to start. You’ve got this.