🔥 10 Recession-proof Businesses | HowStuffWorks

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By Matt Whittaker, Contributor April 9, sparked by the COVID outbreak​, there may be some surprising recession-proof industries.


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Since we will only know what industries weathered this recession best when it's but it's energy companies in are among the worst performers due to the.


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Recession-Proof Businesses and Products: Staying Afloat During Economic Downturn. By Shannon Callarman. May 21, Recessions bring hard times.


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In fact, the recession sort of acts as a blessing in disguise because it promotes their field of work. © - Spike Media Property. Privacy Policy · Cookie Policy.


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By Matt Whittaker, Contributor April 9, sparked by the COVID outbreak​, there may be some surprising recession-proof industries.


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How to Recession Proof Your Investing for 2020

No matter what the predictions for show, you can start or grow a business with confidence if you choose a recession-proof industry and manage it strategically. Newsletter Sign Up. Service Options. You should always strive to provide excellent service and work on nurturing customer relationships, but it pays to take things up a notch when the economy is bad. These five business ideas can provide stability for entrepreneurs seeking solid opportunities that endure economic changes:. A revolving credit line offers a ready source of funding you can draw on and pay back as needed. Strategic business owners secure these sources of funding before they find themselves in tough financial situations. For this reason, businesses providing essential products and services tend to do best during recessions. We strengthen local communities one small business loan at a time. How much are their purchasing habits likely to change if the economy slows down? Some business types even thrive during recessions, particularly those that allow people to save money on everyday items. The economy is naturally unpredictable, and the entrepreneurs who make it through the ups and downs unscathed are those who focus on ideas with staying power. For every deal we fund, we donate 10 meals to Feeding America! Purchase order financing covers gaps when customers are slow to pay for orders, and selling your receivables to a lender puts money in your bank account before invoice due dates. Before launching a new business or plan for growth, consider your audience and their current financial standing. But, you might be surprised to discover just how many businesses opportunities there are during a recession. All Rights Reserved.{/INSERTKEYS}{/PARAGRAPH} Let your customers know how much you appreciate them, and go above and beyond to exceed their expectations wherever you can. Where will they cut back first, and how might that impact the success of your business? Share Apply Now. To truly safeguard against a recession, your business needs reliable sources of cash. During recessions, customers cut back on extravagances before anything else. Advanced planning, smart resource allocation and careful cash flow management can get you through the rough waters of an economic downturn — even when others flounder. {PARAGRAPH}{INSERTKEYS}Uncertain economic times may seem like the worst environment for starting a business. But taking on the responsibility of loan payments when an economic downturn could be on the horizon may put you in a vulnerable position. Financing Options. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations. If you want to know how to survive a recession, take a look at how businesses in these industries fare:. It never hurts to take additional steps to set your business up for success ahead of a potential economic downturn. Above all, be awesome.