With the word recession ringing in everyone’s ears these days, I thought it might be fun to see which are the market sectors that are considered able to withstand a recession and even grow perhaps. After a trawl around the web I came up with the following suggestions:
1. Funeral Parlour. The only things guaranteed in life are death and taxes, therefore there will never be a downtime for a funeral parlour.
2. Bank or Loan Company. Once again, without money our society doesn’t function, therefore being the person that offers the loans has to be lucrative. Beware though, you need a licence to operate in most countries.
3. Local Tourism. With more people choosing to stay at home for their holidays there has been a boom for the British Tourist industry which appears to be replicated across Europe and further afield.
4. Repairs. Repairs and maintenance of any description are going through good times as people start feeling that they would rather ‘make do and mend’.
5. Online Shop. Ecommerce sales were at a record £222 billion in the UK in 2008 and have been rising by around 36% year on year since the start of the century. Low overheads mean lower costs which means greater profits which can be transferred in to increased marketing. People are much happier shopping online than they were just five years ago.
Yes, these are written slightly tongue in cheek, and my personal belief is that unless a technological change occurs to make something obsolete, then any business can survive and thrive in a recession if they apply the the right attitude towards it.
