Industries that flourish during rotten economic times are defined as recession-proof businesses. Job security is number one priority during recession period. Today every one flock towards so called recession proof business. One should go for a career that illustrate long-term growth potential, is resistant from outsourcing and moreover isn’t attached to the inconsistent tastes of consumers. Check out the 10 recession-proof businesses listed below:
Three C’s – Candy, Cosmetics, and Contraceptives: The New York Times reports that Cadbury’s profits were up 30 percent in 2008 and Nestle saw a 10.9 percent growth. This shows that candy consumption has gone through the roof. Women tend to look for ways to pamper themselves even though in recession period. So, cosmetics businesses also do well during recessions. Every one avoids unplanned expenses and a report says that during the first two months of 2009, contraceptive sales were up 12 percent.
Luxury Retail: According to Newsweek, the total number of worldwide billionaires shoots to 20 percent in 2008. The number of millionaires in India grew 22 percent over 2007-2008. This shows that recessions don’t influence everybody. Rich grab up designer handbags and accessories, despite the recession.
Repossessions: Some industries profits from the hard luck of others like junk removal service industry. When some indebted homeowners leave out town and leave all of their possessions behind because of recession. A report says that for businesses like Miss Junk in Los Angeles, monthly revenues of $150,000 during the recession of 2007-2009, 10 times what it make in its first month in 2007. During the recession period bankruptcy lawyers are also in overwhelming demand.
The Government: The people who enjoyed terrific job security even during recessions are federal employees of the United States government. The 2007-2009 recessions prove to be a boon for government employment. Some other sizzling government job sectors are homeland security, health care administration, information technology.
Education: There is a long term demand for qualified teachers in the United States, the public school teachers who are essentially state employees. These teachers enjoy solid job security as America fight back to meet the education standards set by other industrialized nations.
Vices: People never stop indulging in their vices like alcohol and cigarettes even in during lousy times. However they somewhat downgrade the quality of their favorite vice.
Discount retail: Wal-Mart reported a 5.1 percent increase in profits, more than doubling Wall Street’s expectations of 2.4 percent, a source reports. Dollar stores and thrift stores are also doing quick business during the recession.
Information technology: Information technology sector isn’t confined to so-called tech companies and every mid-size to large company relies on information technology to get their business done. Software design and development, networking and systems administration, software implementation analysis, testing and QA, and database administration are the biggest growth areas for IT jobs.
Non- cyclical Businesses: There are a few old standards business which are reliable in recession period. These are non-cyclical businesses that provide basic, necessary services. Some examples are funeral services, public utilities like electricity, gas, religious organizations, the military, pharmaceuticals, and repair technicians.
Health care: People continue to get sick even in bad economics times. So one profession that everyone agrees is in high demand even in recession is nursing. There will be 587,000 new jobs created in the nursing profession between 2006 and 2016, the Bureau of Labor Statistics (BLS) estimates. This is the largest growth among all jobs in the United States.
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