Searching ideas for recession proof businesses? In this post, we cover top 10 businesses that have survived the ups and downs of the market.
Recession proof businesses
Recession proof businesses are organizations that are not impacted by the slowdown in the economy. These types of businesses are needed by the people and hence do not experience a financial downfall.
Want to know more about such businesses or recession definition business?
In this article, we will discuss recession proof business ideas, how to profit from the next recession, the best jobs during recession or who made money during the recession, and recession proof careers.
List of US recessions
The US has suffered about 48 recessions in the past; the US recessions are highlighted below:
- Great Depression (Aug 1929 till Mar 1933)
- The recession from May 1937 till June 1938
- Recession of 1945, 1949, 1953, 1958
- The recession of 1960 till 1961
- The recession of 1969 till 1970
- The recession of 1973 till 1975
- The recession of 1980, the 1990s, 2000s
- Great recession (Dec 2007 till Jan 2009)
What are recession proof industries?
What industry did not suffer during the great depression?
Here are the top key recession proof industries and surviving businesses during the great depression:
- Healthcare Industries
- Utility Industry
- Financial Advisory Services Industry
- Education Industry
- FMCG or Fast Moving Consumer Goods Industry
Top 15 recession proof businesses
Who made money during the great depression or other economic recessions?
To answer the question, in this section we will discuss in detail the top recession proof businesses. Professionals can target these industries that do well in recession, to build up their careers.
1. The best industry to start a business is Food and Beverage
Foods and drinks are a necessity for all. Hence the best industry to start a business and is one of the safest recession proof businesses. Grocery stores, drug stores, door-to-door food delivery, convenience stores, fast food stores, and vending machine businesses are some of the industries that do well in a recession and prevent recessional unemployment.
2. During recessions investment in Healthcare Services is a boon
Healthcare services are in constant demand. Elderly people, kids, people with chronic illnesses, regular medical check-ups, and other common ailments demand the services of doctors, nurses, and other healthcare workers. Hence during recessions investment in Healthcare services is a boon and a free of business recession.
3. How to profit from a recession – invest in Baby Products
People seldom compromise on products required for their babies. So if you are thinking about how to profit from a recession then invest in baby products. It is one of the preferred recession businesses and one of the safest businesses to start.
4. Preparing for economic collapse by investing in Financial and Accounting Services
If you are thinking of starting a business and preparing for economic collapse, invest in Financial and Accounting Services. The services are needed to control wealth and financial security and hence listed as one of the preferred industries that do well in a recession.
5. How to make money in a recession in freelance content writing
If you are wondering how to make money in a recession in freelance content writing; remember writing is less affected by economic downfall. The majority of the companies prefer outsourcing their content to firms specializing in writing quality content.
6. Recession proof career in pet care business
For a recession proof career, it is good to invest in the pet care business. Seldom a compromise is made in veterinary services, grooming services, and pet products; the reason being considered as one of the recession proof small businesses.
7. Recession resistant industries involve cleaning services companies
Cleaning services are a must for the majority of households, public places, or firms. It is considered important in the list of recession resistant industries. Hospitals, shopping centers, restaurants, beauty salons, and several recreational facilities hire specialized services to keep their environment clean.
8. Recession proof sectors involve Beauty companies
Beauty companies are considered among the list of recession proof sectors. Manicure parlors, beauty salons, hair salons never face a dearth of customers even during the economic recession; considered as a recession proof business idea.
9. Businesses that make money during a recession are Educational institutions
Education is a necessity. Starting from kindergarten, junior school, middle school, high school, and to colleges, academic institutions are never compromised. It’s one of the businesses that make money during a recession and is listed among the recession proof business ideas.
10. Digital Marketing is a recession proof business
Digital marketing is on the rapid rise and a recession proof business. SEO, SEM, email marketing, and social media promotions and campaigns are targeted by companies. The sector consists of companies that thrived during the recession in the past.
11. Home care and cleaning essentials are recession proof products
Other than the recession proof business ideas, it is good to understand that home care and cleaning essentials are recession proof products. Companies that did well during the recession in the past had been selling home care and cleaning products.
5 Recession Proof Jobs
What are the best jobs during recession? Or How to make money during a recession?
Listing the 5 recession proof jobs or the recession proof businesses:
- Risk Analyst – Analysing data and information to identify risks and mitigating the same are the jobs of a risk analyst.
- Cybersecurity Professional – Cybersecurity professionals aid the companies in tracking vulnerabilities and fix the same; hence a necessity for many
- AI Specialist – With digital innovations on the rise, being an AI specialist is one of the best recession proof jobs to be engaged in.
- Medical Professional – Healthcare and medical facilities are always in demand. The services of a medical professional are one of the jobs that are recession proof.
- Law enforcement officer – Ensuring safety and security is a need in every single city in the world. A law enforcement officer is thus always in high demand.
5 Recession Proof Careers in services sector
How to survive the next great depression?
Here are the key recession proof careers in services sector to help you:
- Public Utility – One of the reliable recession proof businesses providing stability in job security. It includes services related to gas, electricity, water, etc.
- Funeral Services – A person’s journey to heaven is devoid of all the materialistic world. Hence organizing funeral services can be an option to take up as one of the recession proof careers.
- Public Safety – Ambulance drivers, firefighters, and police officers are always in demand in any place; thus included in the list five recession proof careers.
- Grocery store owner – The demand for groceries falls under necessity. Hence a grocery store owner is one of the best recession proof careers to opt for.
- Senior Care – Homecare for old people is a continual demand and never affected by the recession.
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5 Recession Proof Investments
How to make money in the next recession? or What are the best investments during recession?
In this section we will focus on recession proof investments to think of:
- Healthcare business – Healthcare industry is one of the recession proof businesses.
- Real Estate – People look for a secure and reliable housing option during recessions. Investment in real estate is a recession proof investment.
- Gold and Silver – Reliable assets to invest since their value never decreases in the stock market; one of the reliable recession proof investments.
- Consumer staples – Essential consumer staples never fall in demand; one of the safest recession proof investing options
- Service and Repair companies – The majority of households are bent on fixing their existing assets and utilities. Hence service and repair companies are the best investments for recession
5 stocks that do well in a recession
Detailed below are 5 stocks that do well in a recession:
- High Dividend stocks – They do well in a recession as the potential for return is higher compared to other stocks.
- Technology Stocks – Vital when people are working from home or in remote locations. The demand for technology is growing; one of the recession proof businesses.
- Pharmaceutical Stocks – One of the reliable stocks that do well in a recession. People need medication even during a recession.
- High Yield Savings Account – Yielding a certain percentage more than a normal savings account, it is reliable; one of the safest stocks that do well in a recession.
- Utility Stocks – Utility stocks always pay consistent dividends even during a recession.
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5 recession proof jobs 2020
Let’s now try to understand the 5 recession proof jobs 2020 was good for:
- IT Professionals – IT support is a necessity and is in continuous demand; one of the recession proof jobs 2020. Troubleshooting of IT issues, laptop and desktop repair had been in demand in 2020 and will continue in the future.
- Accountants – Financial accounting and tax services are one of the recession proof businesses; that had been in 2020 and also in the current situation.
- Federal government employees – Federal jobs like military, civil services have been less impacted by the recession in 2020 and hence secure and reliable.
- School teachers and college professors – Education continued in 2020 even it was in online mode. Classes continued in the recession phase too. Thus the demand for school teachers and college professors continued.
- Delivery and courier services – With more and more shifting into online buying, delivery and courier services increased in demand in 2020.
Remember, it is advisable to avoid selecting industries most affected by recession in your career goal.
Kuntala is a versatile writer with a focus on diverse areas around work, productivity, collaboration at work, hiring, management, HR, and training. Her background of past experience in technology and consulting helps in molding razor-sharp insights into the research and user-focused content she creates. Professionally she is an IT consultant in a sales role and also a writer of short stories and poems, travel blogger, and fashion influencer.