What is a recession? According to Google it is
a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
There are two points to note in the above definition 1. It is temporary and 2. Business activities are reduced, not stopped, but reduced. What does that mean? That means there are people who are aware of these facts and are taking advantage of the situation.
At the last JackPlays Game Night for Young Professionals and Entrepreneurs held on Friday, 30.09.16 at Bolton White Hotel, we discussed the Hidden Opportunities During A Recession and it was suggested that the following businesses strive even in a recession ;
1. Businesses that cater to needs that can not be avoided, such as Education, Food and Transportation.
2. Executing an original business idea
3. Providing freelance services
4. Lottery business
5. Printing services
Here are some of the the interesting quotes of the discussion ;
There’s nothing like a recession. Recession brings out the best in people – Daniel (Financial Analyst and Real Estate Developer)
When you are in a tight spot, you will do anything to leave that spot – Kola (Kolimo Media)
If you want to make money, provide value for money – Imo (Reimnet Software Company)
Here are some pictures of the event
JackPlays Events Game Nights is a networking event for young professionals and entrepreneurs. At the event we play interactive games that will make the most timid person a social butterfly, hence making the evening worthwhile for all. You get to meet people who love to work hard and play harder. So join us for the next game night, chat, network and connect.
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