While Some Are Losing Their Jobs, Others Are Profiting from the Bad Economy

If you turn on the news or read the newspaper, all you see is negativity when it comes to the economic situation. It seems like every week another onslaught of layoffs hits companies across the U.S. With an unemployment rate at a 35-year high, it can seem like there isn't a light at the end of the tunnel. You never really hear the good news though.





I'm here to share a little good news with you because while many people are losing their jobs, and while many companies are closing their doors, there are businesses that are prospering in what others consider a "bad" economy.





4 booming businesses in a the bad economy

1. Educational institutions. With employers having to do more with less people and less money, they're being very selective about the employees they keep or the employees they hire. This means that many employees or people who've been laid off are returning to school to get their degree or refine their education to make their resumes stand out from the crowd. These employees and potential employees are back in the dating world--the employer-employee dating world. The parent company of the University of Phoenix realized a 22% increase in earnings and an 18% increase in enrollment in one quarter.


2. Auctioneer companies. With businesses liquidating assets, auction companies that specialize in commercial equipment are booming. Analysts are anticipating these types of companies will see a 13% growth in profits in 2009.


3. Self storage. I often wonder why there are so many of these. Who needs to store so much stuff? In these economic hard times people who are experiencing foreclosure that have to move from their 2,500 square foot home to their 1,000 square foot rented apartment, so it seems. The self storage industry is seeing an increase in their profits and expect earnings to jump by as high as 5% in 2010.

Don't be fooled into thinking that a "bad" economy is bad for everyone because it's not. That's the joy of doing business. You have to find your niche. You're going to have good times and bad ones. Depending on what business you're in, your good times may be when others are experiencing bad ones.