Al salam alikum,

As You all know by now the US economy is going down, meaning that if you're an employee for a company, private business...etc you better have a backup job or plan just incase.

What do you guys think would be a good back up plan, in other words what would be a successful business that anyone of us could open?
All inputs are welcome.

Its always good to have a backup plan, but before that, you should start spending your money wisely... meaning "save" for the difficult times...

I do not have a particular idea in mind, but why don't you think of doing an investment back home in Yemen.

Small investments, not a big ones, like starting a pharmacy and putting someone on it, or a shop, or anything that can help you grow business in your own country.

The US has a potential for a lot of ideas, but it also have a huge risk, because thousands of businesses fail in their first year in the US.. so you should be patient when planning a business in the US... and you should have a good "cause" for starting this business... just to keep you going and determined to make it a success.

One idea that you might explore is importing goods from Yemen, especially if you live in an area full of Yemenis, this is a new trend in business. Recent studies showed that most of the immigrant will buy and spend more on goods from back home, they tend to like the idea and support it. So, if you are in a large Yemeni community, you may start thinking of providing them with goods from Yemen, not necesserly the unique stuff that do not exist in the US, but also stuff that have been made in Yemen and have similar products here, for example:

- Milk
- Tomato Sauce
- Yogurt
- Sweets
- Cookies
- Clothes

I know what you are thinking now ! you may ask "Why the hell would i import Yemeni or arabic tomato sauce while the US produce much better quality than ours?? right???

That's the twist, people -naturally- love what they grew up with... mostly. So, if you bring them goods from backhome, they would want to stay attached by buying these stuff.

that's just an idea

Good luck, and try to kiss up more with your boss, so you don't get layed off. :P

aslam alikum,
Yemenvista's idea seems to be working so well in brimingham (uk), infact that type of business is growng even though some product like 3sl and Juben (cheese) are no longer permitted in the uk. And i would like to add two more things to his list.
-Drinks like Vimto
-Tin food like ful and fasuliya


Good luck with whatever you choose to do brother.
salam

Wa alikum al salam,
I agree with you and my bro yemenvista, but my aim is to attract as many customers as possible not just yemeni ones. Plus ya sister, it would be a little expensive for imported products, therefore people would start buying something that's available and cheaper.

I like yemenvista's idea

I also saw an example of it in NY with people buying vimto and tuna that had a familiar taste from Yemen.

Like yemenvista said starting a business takes planning. Some people go to business school and get an MBA and have very bad business ideas. Other uneducated people open small stores in a lucky location and become millionaires.

Once you are used to a steady check it is difficult to step into the uncertainty of risk in starting a business. Also, at this time many businesses are closing, so this might not be the best time to start a business.

The economy around the world is at major slow down influenced by the collapse of the credit market. People are losing jobs. Their buying power is reduced which closes more small business that can't stay profitable.

If you are going to open a business these days it has to be a product that people can not live without; food, electricity/oil, etc.....
You also have to offer it at a competitive price. People don't have the extra money anymore at these tough times.