15 recession-proof companies in 2022 | Expert predictions
Do you know that there are companies that do not go down despite an economic recession?
Nielsen data shows sales of pet food and supplies rose 26% in stores and 77% online at the height of the pandemic in March, as pet owners stocked up on merchandise. While in-store sales have declined as people avoid crowds, e-commerce has remained generally strong as pantries are restocked after the initial shopping spree.
As businesses struggle to meet sales due to the financial impact of COVID, some businesses are cashing in despite the global economic crisis.
So, if you're looking for recession-proof businesses, our list is all you need.
Before moving on to the list of top 15 recession-proof companies, let's define the term "recession-proof company".
What is a recession proof business?
A recession proof business is an industry that does not feel the impact of economic decline in terms of sales. This industry is the one everyone needs, no matter the situation.
For example, home and vehicle repair businesses, utilities like plumbing and electrical, groceries, etc., all tend to do well despite the economic downturn.
So if you're looking for recession proof business ideas, here you go.
15 recession-proof companies
Here's our list of the 15 most recession-proof companies.
#15 Funeral services
Death is a natural phenomenon that can occur at any time. Even during the recession, people are dying and deceased care services will obviously be needed. Therefore, we can authoritatively say that the funeral services industry is a recession proof industry.
#14 Veterinary Services
Just like human beings, animals always need veterinary services, regardless of the economic situation, because they must be kept clean and healthy.
Therefore, pet owners always ensure that their pets always receive the best treatment to avoid illness or premature death.
#13 Home Staging Experts
Just because it's normally difficult to sell a home during a recession doesn't mean that home sellers won't hire the services of home staging experts who will clean and furnish the home to make it attractive to future buyers. which may come unexpectedly.
Home staging specialists can be real estate agents or interior design professionals, or both.
You might want to see the best property management companies .
#12 Services for seniors
With the increase in the number of elderly people and shelters, services for the elderly are also increasing and continuously.
Whether there is a recession or no recession, the elderly must be taken care of. Therefore, the services of health experts and other workers will always be in great need.
#11 E-commerce (Delivery)
While brick-and-mortar stores may struggle to keep up during the recession due to operating costs and other factors, your online retail business can thrive as an inexpensive alternative. Example: Amazon , eBay , Letgo , OfferUp
#10 Accounting services
Accounting services are a recession-proof industry that is in high demand during a recession as businesses and government agencies seek out their services in order to find ways to cut costs.
During a recession, businesses still need to offset their bills and keep records of their income and expenses. Thus, the services of an accountant or financial expert are endless.
#9 Cleaning services
The duty of a cleaner does not come with the season, especially when it comes to commercial environments.
Take for example, if a hotel or business decides to downsize due to the recession, do you think the services of a cleaner will no longer be needed? Of course not. A cleaner's duty is always there, even when the economy goes south.
#8 Repair Services
As we all know, there are no perfect days for things to fall apart. Even in the best times things fall apart like in the bad days.
During a recession, people will want to repair to buy new things.
That is, businesses that focus on repair services for essential items like auto mechanics, roofers and plumbers, are likely to see as much work during a recession as when times are good.
#7 Information Technology
In the wake of COVID, the importance of IT has tripled as businesses, businesses, and even schools have had to adopt remote online working and learning systems. This trend is one that has come to stay in and out of seasons.
The popularity of working from home is also likely to increase the demand for companies that deal with IT, as businesses around the world need the services of IT companies.
#6 Health services
The healthcare services sector has proven to be a recession proof industry. In fact, it is renewed every day because the services of health workers know no limits.
During a recession, people visit health centers frequently, perhaps because of health issues or for a routine checkup.
#5 Child care / daycare
Most parents are still creating space for child care, no matter how tight the economy is.
Indeed, the services offered in a daycare center cannot be offered at home, especially when both parents work or in single-family homes.
Due to the desire to give the best to their young children, parents are always looking for ways to accommodate the services of a daycare/daycare centre.
#4 Courier and Delivery Services
Sending letters, goods, couriers and other packages has nothing to do with the recession. Regardless of the circumstances, people will always find the need to send emails and packages through
So, in times of economic recession, courier and delivery services stand out as a recession-proof business.
#3 Retail consignment
According to a CNN report , thrift stores saw their sales rise 35% during the last recession, even as sales at other retailers fell.
In fact, the thrift store craze has stayed long after the recession and it's just as convenient to buy used clothes as it is to buy new clothes.
Retail franchises and other thrift stores are a good recession-proof industry.
#2 Food and drink
This is obviously one of the companies that the recession has nothing to do with, regardless of its ability to influence commodity prices.
During a recession, people will still have to eat and drink. Although people may cut expenses like eating out, they will still spend on small things.
Grocery store sales, candy sales, and liquor sales all tend to increase during a recession. According to The New York Times , Cadbury chocolate factory sales soared 30% in 2008. And Snickers and Mars Bars were invented during the Great Depression. This shows how much we crave sugar when we are stressed.
Also, household items like; toothpaste, laundry soap and other basics will always be needed, regardless of the economic situation.
#1 Baby Products
Just like the recession can't stop procreating, they don't have anything on baby products either. If you have a baby when the recession hits, that won't stop you from needing diapers and baby clothes, will it?
Parents may not be able to spend hundreds of dollars on toys this Christmas during a tough year, but they will still buy gifts and new clothes for their growing babies.
So if you're looking for a recession-proof business, try baby catering. In the meantime, see how to get free diapers for your baby.
Conclusion
Recession-proof business by no means involves businesses that do not feel the impact of economic situations such as rising and falling prices. They are simply businesses that still find a way to thrive during the economic downturn because of their relevance.
Simply put, these are businesses that people cannot afford to ignore, no matter how deadly the country's financial situation is.
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