Unemployment rates continue to rise globally, providing a grim labor outlook for the years to come. Most experts attribute this negative trend to covid-19, a pandemic that has caused immeasurable damage. But there are other reasons. We live in a vastly overpopulated world, a world that is becoming too small. Also, we have issues like global warming, geopolitical tension, and natural disasters. They are all important contributing factors.
The question thus is how to mitigate this downward spiral, how to create more jobs. Invariably, this is a matter of governance and public policy. Yet, we as individuals can also take action. One way to do this is by starting our own businesses.
But what kind of business? One answer is any business, whatever we can do. A better answer would be a business that generates income for us and others and tackles other issues such as waste management and environmental protection.
Here are three interesting ideas you could look into.
Buying a Franchise
Buying a franchise is nothing new. McDonald’s started its franchising business model more than half a century ago. But not all franchises are packaged the same way. As an environmentally-conscious investor, there are several aspects to consider:
- What kind of product or service do I want to offer? What is this product made of? Is it biodegradable?
- Instead of a well-known, overused brand, why not invest in something new? A great option would be an eco-friendly franchise.
- If you’re dealing with suppliers, what kind of suppliers are they? If it’s food, where and how is this food grown?
- Will my franchise generate employment just for myself and a few others? How can I maximize the number of workers I will employ?
- Is my franchise sustainable? Does it create long-term value?
These and other questions will help you make the best choice.
Opening a Farmer’s Market
There are many benefits to a farmer’s market. A farmer’s market brings about employment to local communities. It also provides a healthy, affordable option for consumers. Besides, setup costs are usually not that high, and the location is not fixed. You can set up your market in one area this weekend and change it to a different one the next. Of course, you shouldn’t do it too often as it will be impossible to maintain a stable customer base.
Having a farmer’s market is also a great way to socialize, make new friends, and even network with similar-minded people. If it seems too daunting a task at first, you shouldn’t worry. There is a lot of support for starting entrepreneurs and step-by-step guides you can follow.
Setting Up a Recycling Warehouse
A recycling warehouse is where you get something, sort it, turn it into something else, and then either sell it or reuse it. There are several ways to do this. One option would be to open a garbage sorting facility. The main benefit here lies in that you don’t need any equipment or experience as you are not recycling the garbage. You are simply sorting it into disposable garbage, plastics, metals, etc. Once sorted, it can be distributed to a materials recovery facility.
You could also start an item-exchange center. People can bring in whatever they don’t need and exchange it for something useful they can find. You can then charge a small fee for the exchange or a higher one if the two items are not similarly valued.
If you are interested in starting a new business while protecting the environment, there are several ways you could do this. You could buy a franchise, open a farmer’s market, or set up a recycling warehouse. These are all viable options that will provide you with a stable source of income and generate employment for others and create a positive change in your community.