What businesses will have the most problems during the recession?

[Ezekiel]

Offline business will really suffer as long as recession is concern because most things will be done online and it will take time for the person to adapt to the online system

 

[Abasiama40]

The business that are likely to have the most problems during the recession especially in Nigeria are bakery businesses because of very high cost of baking materials, school teachers, clothes sellers and others.

 

[Godspower]

All businesses have been affected by recession. However, I believe that small and medium scale enterprises have been the most hit due to their low capital base.

 

[Sotherefore]

As I understand I believe every business will be seriously affected during that period of time, when there is recession the country's economy becomes difficult, the value of the country's currency becomes useless. There is no business that will run successfully without the affect of the recession. Including farming.

 

[Ghost1]

The business that will have the most problems during the reception has always been the teaching profession or school business because they do not make any income during this pandemic and it is the worst hit of them all.

During recession? I think you are confusing recession with pandemic. I think people that would be most affected are those who deal on import. During recession value of currency drops so they spend more. Anyways the consumers will be the one that ends up suffering

 

[Seno inyang]

Schools, bars, hotels, restaurants and sometimes markets suffers recession because this places/businesses holds a huge number of customers especially during the pandemic, and these places were restricted.

 

[Elfinito]

Oil and the gas sectors suffer most during the recession.
But recession thus hit every business sector of the country

 

[kinqzbitz]

Well I think all businesses will actually be affected greatly if there is a recession, every one will be affected including corporations and organizations of all sizes and ranks

 

[Immilash1]

small businesses are the business that will suffer during recession. recession is a difficult time for economy of a country , recession will also affect farmers.

 

[Kingstone]

I just hope that the impact of the pandemic will not linger until 2022. But the way things are, I do not think it is possible. Naira just fell against the dollar some days ago and now it will be worse in 2022 as some said it to be. Price of fuel will rise.

 

[Syldan]

The truth about recession is that, when ever there is such experience, it's a general problem or phenomenon which will affect almost all forms of business or any economic transactions within the country not necessarily some kind of business.

 

[Heatman]

Nigeria Right now is going through its third recession era, with a very high cost of living under this incumbent government. And many businesses are striving. But what can of business can survive the impact of recession while offering a low cost services?

This is actually why you were supposed to have a back-up plan when it comes to any kind of business that you were doing because in time of reception it is your back-up plan that will help your business to survive.

 

[greenie]

All businesses are short of patronage this era due to the recession. However, there are some businesses that will not suffer most. Businesses like barbing, food and wears and even house. They are essential.

 

[Kvngsammy]

I think businesses that rely heavily on providing non essentials of life would be the most hit when there's recession.
People would automatically shift attention or give less attention to things that wouldn't improve life or that aren't necessities in any way.

 

[Smiles20]

Whenever there is a pandemic businesses that do not take their services online at the ones that are going to suffer the most. This is why it is important to create at least a website for your business.

 

[Shigobad20201]

The business that will have the most problems during the reception has always been the teaching profession or school business because they do not make any income during this pandemic and it is the worst hit of them all.

Teaching profession will likely have problem during recession like you said because schools are not opening during the lockdown and they are not making any income.

 

[ganibade]

Most of the business have problem during the recession. The business of buy and selling offline were disturbed seriously. It was only online business many people relied.

 

[Omotayo]

Offering low cost service doesn't guarantee a successful business. I think you would have to adjust with times. Either by adding to prices, because production cost would increase as well.

 

[Kaffyfolla]

Recessions are difficult times. Many people suffer economically and even more worry that they might, too. But for a select group of professionals, a recession may actually be an opportunity to thrive and grow. Here are some of them

 

[kayode10]

Any business that is outside basic needs of humans will have problem to survive during the recession. Food business is one of the business that we thrive during the recession. The reason is that people will have to eat no matter what happens.