Seven Recession-Proof Businesses

Seven Recession-Proof Businesses

beauty services

The best recession-proof businesses sell a product or service that is necessary or legally required. This is to be contrasted with nice-to-have purchases or desires.

The seven top recession-proof businesses include:

  1. Health care – even during a recession, people get sick, have babies, etc.  
  2. Tax and accounting services – preparing Business Activity Statements and tax returns for workers, investors, and business is necessary; it’s the law.
  3. Daycare and childcare – Children need care and supervision regardless of the economy.
  4. Supermarkets – people still need to eat (and it’s a lot cheaper than eating out or buying takeaways).
  5. Funeral services – people still die.
  6. Home hardware stores – consumers do more DIY when money is tight.
  7. Beauty services – demand is very inelastic, and these are typically deemed necessities in the minds of their purchasers.    
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