Business
10 Interesting Facts About Business During the Great Depression
The Great Depression was a defining moment in global economic history, marked by unprecedented challenges and unexpected resilience. While it brought economic turmoil, the era also showcased the ingenuity and determination of businesses that adapted to the harsh realities of the time. Here, we uncover 10 fascinating facts about business during the Great Depression, revealing surprising insights into innovation, survival strategies, and enduring success stories.
The Great Depression: A Transformative Era for Businesses
The Great Depression (1929–1939) was one of the darkest periods in modern history, with widespread unemployment, plummeting stock markets, and shuttered companies. Yet, amidst the hardship, some businesses thrived, and others laid the foundation for future success. Understanding these stories sheds light on how resilience and adaptability can prevail in the toughest times.
Businesses That Started During the Great Depression
Surprisingly, the Great Depression was a breeding ground for innovation. Many companies we know today began during this era, including:
- Disney: Walt Disney released “Snow White and the Seven Dwarfs” in 1937, proving that entertainment could flourish even in economic downturns.
- Krispy Kreme: This beloved doughnut chain began in 1937 in North Carolina, catering to the comfort-food cravings of the time.
These businesses exemplify how necessity and creativity sparked opportunities amidst despair.
Consumer Spending Didn’t Completely Vanish
While consumer spending plummeted, certain industries saw consistent demand. For instance:
- Cosmetics and Beauty Products: The “Lipstick Effect” describes how consumers still splurge on small indulgences during recessions, and this trend was apparent in the Great Depression.
- Entertainment: Affordable forms of entertainment, like movies and board games, experienced a boom.
The Birth of Monopoly: An Iconic Board Game
One of the most surprising stories from the Great Depression is the rise of Monopoly. Charles Darrow popularized the game in 1935, offering families a form of escapism and fun during tough times. Monopoly’s success highlighted how entertainment provided solace in a bleak era.
The Rise of Thrift and DIY Culture
The economic hardship of the Great Depression forced businesses to adapt to consumers’ reduced purchasing power. Thrift stores became popular, and the DIY culture flourished. Companies pivoted to selling cost-effective or multipurpose products to cater to budget-conscious households.
The Role of Advertising in Keeping Businesses Afloat
Despite financial constraints, advertising became a critical tool for companies to stay visible and relevant. Brands like Procter & Gamble pioneered radio soap operas as a creative way to connect with audiences, giving rise to the term “soap operas.”
Bank Failures and the Business of Survival
The banking sector was one of the hardest-hit industries during the Great Depression, with over 9,000 banks failing. This collapse reshaped how businesses and individuals managed their finances. In response, new financial safeguards, like the Federal Deposit Insurance Corporation (FDIC), emerged, restoring trust in the banking system.
New Deal Programs Boosted Small Businesses
President Franklin D. Roosevelt’s New Deal introduced programs that indirectly benefited struggling businesses. Initiatives like the Works Progress Administration (WPA) and Civilian Conservation Corps (CCC) provided employment, which increased consumer purchasing power and stimulated local economies.
Luxury Goods Survived in Unexpected Ways
While many might assume luxury goods industries suffered heavily, some segments thrived by shifting focus. For instance:
- High-End Jewelry: Companies like Tiffany & Co. adjusted their marketing strategies to appeal to emotional purchases, like engagement rings, as symbols of hope and love.
- Alcohol: Despite Prohibition (which ended in 1933), alcohol sales surged post-repeal, benefiting businesses ready to meet the pent-up demand.
Infrastructure Projects Created New Opportunities
The Great Depression spurred large-scale infrastructure projects funded by the government, including the Hoover Dam and the Golden Gate Bridge. These projects not only provided jobs but also created opportunities for businesses supplying materials and services.
Businesses Adapted to Changing Consumer Preferences
Companies that succeeded during the Great Depression often pivoted their products or services to align with consumer needs. For example:
- Automotive Companies: Instead of selling new cars, manufacturers focused on spare parts and repairs, catering to customers keeping older vehicles running.
- Retailers: Department stores introduced layaway plans, allowing customers to purchase goods over time without accumulating debt.
Lessons for Modern Businesses
The resilience of businesses during the Great Depression offers timeless lessons:
- Innovation is Key: Companies that embraced change thrived.
- Empathy Wins: Brands that connected with consumers’ emotions built lasting loyalty.
- Diversification Matters: Businesses that expanded their offerings to meet shifting demands weathered the storm better.
Conclusion
The Great Depression was a crucible for innovation, resilience, and strategic adaptability. While the era presented immense challenges, it also unveiled opportunities for businesses willing to think differently and connect with the evolving needs of their customers. Today’s entrepreneurs can draw inspiration from these remarkable stories, proving that even in the darkest times, perseverance and creativity pave the way for success.
Business
Kimbal Reaffirms Commitment to North-East Energy Transition at IEEMA’s Northeastern Power Conclave Event

New Delhi [India], June 16: Kimbal Private Limited, one of India’s foremost OEM to Advanced Metering Infrastructure Service Provider (AMISP) companies, reinforced its long-standing commitment to the North-East power sector at the Indian Electrical & Electronics Manufacturers’ Association (IEEMA) regional energy summit held in Guwahati on 17-18 June 2025.
During the opening session, Chief Business Officer Gurpreet Oberoi traced the region’s transformation from manual billing to data-driven efficiency towards a reliable grid, underscoring that “smart meters are the foundation on which resilient, digitally empowered utilities are built.” His remarks carried special significance as Kimbal’s very first utility project began in Assam in 2016. That early collaboration laid the groundwork for today’s large-scale deployments across the North-East. Since that first 14,000-meter pilot with APDCL, Kimbal has shipped more than 1.5 million integrated AMI endpoints in the region. Each endpoint pairs a BIS-certified single-phase or three-phase smart meter with an RF-mesh communication module and a secure, cloud-native Head-End System.
The solution is live or under rollout with five Northeastern utilities –Assam Power Distribution Company Limited (APDCL), Meghalaya Power Distribution Corporation Limited (MePDCL), Sikkim Power Department, Department of Power Nagaland, and Department of Power Arunachal Pradesh–helping them curb technical and commercial losses, improve outage response, and introduce consumer-facing digital services.
Nationwide, Kimbal has supplied over 3 million smart meters and has worked with more than twenty utilities, making it one of the fastest-growing AMI providers under India’s ambitious Revamped Distribution Sector Scheme (RDSS). Growth has been anchored by the company’s four-acre mega manufacturing plant in Greater Noida, Uttar Pradesh. Fully automated assembly lines give the facility a rated capacity of 30,000 smart meters per day, while an in-house Manufacturing Execution System guarantees high precision throughput and complete traceability from PCB loading to final packaging.
Kimbal’s technology leadership extends beyond hardware. Its AI-enabled meter-reading solution, trained on computer-vision models, automatically extracts and registers data and diagnostics from photos of the static meters display. APDCL’s early adoption of the tool accelerated their bill processing cycles and improved collection efficiency across not only urban but rural areas, too.
Looking ahead, Kimbal is sharpening its focus on technology-driven energy intelligence with three new digital solutions in the pipeline. Energy Management Solution (EMS) will automate power procurement for commercial and industrial customers, continuously matching demand with the most cost-efficient supply. A dedicated Energy Monitoring Tool (EMT) will provide substation-level oversight, automating usage analytics and alerting operators to anomalies in real time. For households, a forthcoming appliance-wise consumption tracker will break down energy use by device, turning raw data into clear budgeting insights. This new product line reaffirms the company’s commitment to staying at the forefront of innovation and extending affordable, reliable, high-quality electricity to everyone it serves.
The Guwahati event drew senior officials from government departments, nodal agencies, distribution utilities, and manufacturing partners. Their discussions converged on a single theme: that reliable data and indigenous innovation are essential to the North-East’s economic aspirations.
About Kimbal
Founded in 2011, Kimbal Private Limited delivers end-to-end AMI solutions, RF-mesh communication infrastructure, and AI-based tools that enable utilities to provide reliable, affordable, and sustainable energy to millions of consumers. The company’s portfolio now spans hardware manufacture, software development, and data-intelligence-driven services designed to accelerate India’s energy transition and support global decarbonization goals.
For additional information, visit www.kimbal.io or email to stories@kimbal.io
Business
String Metaverse (BSE: META) Secures Canadian Fintech License, Rebrands to String Payx

String Metaverse rebrands to String Payx after securing Canadian Fintech License
Hyderabad (Telangana) [India], June 17: InString Metaverse Limited (BSE: META), a next-generation digital finance infrastructure Web3 company, is pleased to announce that it has officially received its Fintech License (MSB registration) from FINTRAC Canada, headquartered in Vancouver. In alignment with this significant milestone, the Canadian company will undergo a strategic rebranding to String Payx, with the name change to be reflected across all regulatory and operational platforms within the next 60 days.
This license marks a pivotal expansion for String Metaverse, empowering it to launch comprehensive Web3-enabled digital banking services, including:
- Issuance of Virtual Debit Cards
- Cross-Border Wire Transfers
- Full-suite Payment Solutions for businesses and individuals
- Virtual Corporate Accounts
- Seamless Crypto-to-Fiat On-Ramp and Off-Ramp capabilities
String Metaverse is uniquely positioned at the convergence of gaming, digital assets, and fintech. With an existing user base of 4 million gamers, projected to reach 10 million, the company will leverage this license to issue Virtual Visa and Mastercard Debit Cards, fully integrated with Apple Pay and Google Pay. This enables instant global payments at over 170 million merchants across both physical and digital platforms.
“This license is a game-changer,” said [CEO Santosh Althuru], CEO of String Metaverse. “It enables us to power the next wave of financial services for Web3-native users, seamlessly merging crypto, gaming, and global payments.”
This development is aligned with String’s mission to build the public infrastructure layer for open, yield-bearing financial ecosystems on blockchain — where stablecoins, tokenized assets, and real-world payments converge.
About String Metaverse first Web3.0 company listed on Indian exchanges (BSE: META), is building the Internet Financial System of the future. The company’s infrastructure powers scalable digital banking, payment rails, and asset tokenization, connecting Web3 innovation with real-world utility across borders
Business
Actress Madhurima Tuli Unveils New Brand ‘Bakeats’ in Noida, Launches Variety of Cookies & Rusks Promising a ‘Taste Mein A++’ Experience with Every Bite

Noida (Uttar Pradesh) [India], June 16: In a flavour-packed launch event held in Noida, PND Exim India LLP introduced its newest offering–Bakeats, a vibrant and premium brand of cookies and rusks, designed to deliver what it calls a “Taste Mein A++” experience. The grand unveiling was made even more special with the presence of actress Madhurima Tuli, who officially launched the product line and applauded the initiative.
Setting itself apart in a cluttered market, Bakeats is not just another snack brand, it’s fully manufactured in-house by PND Exim India LLP at a high-capacity production unit based in Noida with a capacity of producing 14 tonnes in 24 hours. This ensures strict quality control and unmatched freshness in every pack.
The brand enters the market with 8 delightful cookie variants and 4 crispy rusk options, wrapped in eye-catching, vibrant packaging that’s as fresh as the products inside. Bakeats is tailored for modern Indian consumers who crave indulgence, trust quality, and appreciate good design.
“Bakeats is built on the pillars of honesty, flavour, and freshness,” said Mr. Pankaj Mishra, Founder of Bakeats. “With complete in-house production, we control everything from ingredients to packaging. Our goal is to bring a premium snacking experience to everyday households without the premium price tag.”
At the launch event, actress Madhurima Tuli while unveiling the products said, “Bakeats is fresh, tasty, and packaging is really attractive. I’m really happy to be part of this launch and wish the team huge success.”
Bakeats will be initially available across retail markets in Delhi-NCR, Punjab, Haryana, Rajasthan, Jammu & Kashmir, Uttar Pradesh, and Uttarakhand, with aggressive expansion planned for other regions. Within the next 3-4 months, the brand will also go live on quick commerce platforms, making it accessible in metropolitan cities like Delhi, Mumbai, and Bengaluru, through instant delivery apps.
With bold flavours, standout packaging, and the promise of “Every Bite Baked Right,” Bakeats is set to become the next big name in India’s homegrown snack aisle.
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