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Dec 7, 2022 · What Is Recession Proof? “Recession proof” is a term used to describe an asset, company, industry, or other entity that is believed to be economically resistant to the effects of a recession.
- Healthcare. So-called "defensive industries" are often considered the most reliably recession-proof. These kinds of businesses — ones that consumers will need to buy from, regardless of circumstance — are some of the best-equipped to handle economic turmoil.
- Accounting and Financial Advisory. Accounting and other financial advisory services are almost always in demand amid a recession, and it makes sense — one of the more straightforward, practical ways to deal with financial insecurity is by seeking financial guidance.
- Home and Car Repair. Utility services, like home and car repair, comprise another key defensive, recession-resistant industry. Most people lack the necessary resources and knowledge to handle routine maintenance on their homes and automobiles — let alone major renovations, construction, or part replacements.
- Certain Food and Beverage Retailers. You might have noticed a consistent thread between the points on this list — recession-proof businesses revolve around necessity.
Feb 4, 2024 · Based on data and trends, Forbes Advisor ranks bookstores, PR agencies and interior design services as the most recession-proof small businesses in 2023. See the full list of 10 most and least recession-proof businesses and learn how to start and grow them.
Apr 19, 2019 · As talk of an impending economic downturn takes hold across the globe, executives can take thoughtful steps to build recession proof businesses.
Dec 7, 2022 · “Recession proof” is a term used to describe an asset, company, industry, or other entity that is believed to be economically resistant to the effects of a recession.
- Jason Fernando
Nov 21, 2022 · What all recession-proof companies have in common is that demand for their products and services is relatively inelastic. Customers have little flexibility even when budgets are tight.
Jul 15, 2022 · Here are 8 tips to recession-proof your finances. 1. Assess your financial health. Take the opportunity to review your financial situation and make your financial plan more resilient to prepare for the uncertainties that lie ahead.
