What is a recession-proof business?

A recession-proof company is an industry that does not feel the effects of the economic downturn in terms of sales. Everyone needs this industry, regardless of the situation.

For example, companies in home and vehicle repair, and public services such as sanitation and electricity, food, etc., tend to perform well despite the economic recession.

So if you’re looking for recession-proof business ideas, you’ve come to the right place.

Here’s the list of the top 25 recession-proof businesses.

1. Funeral Services

Death is a natural phenomenon that can occur at any time. People die even during a recession, and euthanasia services are needed. Therefore, we can decisively say that the funeral industry is a recession-proof industry.

2. Veterinary services

Like humans, animals always need a veterinarian, regardless of the economic situation, because they need to be kept clean and healthy.

Therefore, pet owners always ensure that their pets receive the best treatment to avoid illness or premature death.

3. Home Staging Experts

The fact that it is usually difficult to sell a home in a recession does not mean those home sellers do not use the services of home staging experts who clean up and furnish the house to make it attractive to potential buyers who may come unexpectedly.

Home staging specialists could be real estate agents, interior designers, or both.

You may want to see the best property management companies.

4. Services for the elderly

With the increasing number of seniors and retirement homes, services for older people are also steadily increasing.

Whether recession or no recession, the elderly need to be cared for. Therefore, the services of health professionals and other workers are always urgently needed.

5. E-Commerce (Delivery)

While physical stores may struggle to keep up during the recession due to ongoing costs and other factors, your online retail business can thrive as it is a cost-effective alternative. Example: Amazon, eBay, Letgo, OfferUp

6. Accounting Services

Accounting services are a recession-proof industry that is in high demand during a recession as businesses and government agencies use their services to find ways to reduce costs.

During a recession, companies still need to balance their bills and keep their income and expenses records. So the services of an accountant or financial expert are endless.

7. Cleaning services

The duty of cleaning staff is not a season, especially when it comes to business environments.

For example, if a hotel or company wants to reduce its workforce due to the recession, do you think a cleaner’s services are no longer needed? Of course not. The duty of a cleaner is always there, even if the economy goes down.

8. Repair Services

There are no perfect days when things break, and everything collapses on bad days, even in the best times.

During a recession, people will feel like making repairs to buy new things. Companies that focus on repair services for essential things like auto mechanics, roofers, and plumbers are likely to have as much work in a recession as in good times.

9. Information Technology

In the wake of COVID, the importance of I.T. tripled as businesses, businesses, and even schools had to adopt remote online work and learning systems. This trend has come to stay in and out of season.

The popularity of working from home is also likely to increase the demand for I.T. companies, as businesses everywhere need the services of I.T. companies.

10. Health Services

The healthcare sector has proven to be a recession-proof industry. It is renewed every day since the services of health workers know no boundaries. During a recession, people often visit health centers, possibly due to illness or a routine checkup.

11. Childcare / Kita

Most parents always create space for childcare/daycare, no matter how tight the economy is.

This is because childcare benefits cannot be offered at home, especially if both parents work or are in single-family homes.

Out of a desire to give their young children the best, parents are always looking for ways to accommodate the services of a daycare center.

12. Retail Shipment

According to CNN, thrift stores saw a 35% increase in sales during the last recession, even though other retailers’ sales declined.

After the recession was long gone, the thrift store stopped, and it’s just as convenient to buy used clothes as it is to purchase new ones. Retail franchises and other second-hand stores are an excellent recession-proof industry.

13. Food and drink

This is one of the business areas that the recession has no impact on, regardless of its ability to influence commodity prices.

During a recession, people always need to eat and drink. Even if people save

money, like eating in restaurants, they will still spend on some small things.

Grocery store sales, candy sales, and alcohol sales tend to rise during a recession. According to the New York Times, the sales of the chocolate company Cadbury increased 30% in 2008. And during the Great Depression, Snickers and Mars bars were invented. This shows you how much we crave sugar when we are stressed.

In addition, household items such as; Toothpaste, detergents, and other staples are always needed regardless of the economic situation.

14. Selling Unwanted Things

You should skip everything that doesn’t bring you much value during a recession or something you think you’ve passed.

You no longer need things that others would like to have. Sell it to them and then get some money back.

15. Keep your job

In a recession, it’s important not to lose sight of what’s putting money in your pocket. Your job is primary, and you should make sure you keep it. They may even offer to do more and help, which can help keep you a job when others are laid off.

16. Switch to Survival Mode

During a recession, our mindset requires to change for money to begin. It is essential to adopt the principle of “spend less, earn more.”

Before things get pitch dark out there, you need to find a way to change your mindset and that of your wallet to know that things aren’t back to the way they are.

17. Do more

Honestly, it would be best if you had more. This is the time when you need the extra money you usually ignore. When offers come, choose those that don’t interfere with the time you spend on your main job and work on it.

The more you earn, the more you realize how much potential you have to make more money. What business or additional income you earn may or may not stay with you even after the recession. Whatever you choose, don’t rush it. Think wisely, long, and thoroughly before proceeding.

18. Save

You may be wondering how. I know. Just remember that you can still save even during a recession. Save from the little you earn.

All the money you earn shouldn’t go into survival. The famous words in a popular book say, “A percentage of what you earn is yours.” Remember that.

19. Plan ahead

Being recession-proof means preparing not to be undone when the recession hits the population hard. Like the biblical Joseph during the great famine in Egypt, who foresaw the coming years of famine and made appropriate preparations for those years, means to be recession-proof, like Joseph.

Even though you might be able to prevent a recession, you can prepare your boat for it to be badly shaken no matter how long the recession lasts.

Become more valuable at work. If there is downsizing and workers are laid off, this will not affect you. You can work on updating your resume and improving your skills to fit into more prominent roles as well.

At home, start by cutting household expenses, cushioning emergency savings through top-ups, selling things you don’t need, and preparing to help family members who aren’t as recession-proof.

If they can read and write and have access to the Internet, send them a link to this article to prepare for such situations.

20. Involve everyone

Are there people in your household who are old enough to earn an income? Involve them and help them realize the importance of bringing minds together to get the right results.

Help them understand that their commitment is in the interest of the household. An African proverb says: “When we all urinate together on one spot, it foams.” Could you take what you want from it?

21. Don’t take on bad debts

A recession is the wrong time to borrow for things you don’t need. The only reason for borrowing is that a proven company that needs a new cash inflow needs to grow more significantly than it currently does.

22. Save taxes

Don’t cut off the government’s money unless necessary. Anything that can help you keep more of the money you pay as taxes should be followed to avoid tax evasion. Find a way to reduce the taxes you pay on your income, house, car, and other things you can think of.

23. Investing

There is a lot to say about this; as I mentioned earlier, the recession market is in a frenzy. After thinking well and thoroughly about what you’re going to do, this may be the right time to buy the stocks that sell out and are cheap.

This requires you to ask yourself what kind of investor you want to be and your risk tolerance. Whatever you choose, invest with focus.

As much as you invest in the stock market, you also invest in yourself.

24. Become liquid

A recession may not be the right time to leave money at banks or in the hands of people you may not be able to pick it up from. Cash keeps you afloat when boats sink. Take some money with you, as this will ensure that you are better protected from systemic outages than those who do not have cash.

25. Buying up

A recession can also be an excellent time to buy up other small businesses at risk of closure. Buying up new companies and bringing cash into those businesses may be necessary to keep the company and its former owners afloat. In this way, you save lives, do good business, and earn money.

There is always good news. Stay positive. Stay in a recession or not positive. Recessions are not the end.

15 recession-proof jobs (recession-proof jobs)

Finding a new job in the current tense economic situation presents many job seekers with a significant challenge. However, a possible solution can be temporary jobs because many companies like to resort to temporary workers in economically challenging times. According to the experience of Robert Half Finance & Accounting, the leading personnel service provider in finance and accounting, at least some job profiles for temporary workers are booming even in the current doldrums.

Positive news from the labor market is a rarity at the moment, but it does exist. Even in the economic crisis, companies still require personnel for certain positions. However, they often shy away from retaining new employees in the long term, preferring to rely on flexible, temporary work. This represents a classic win-win situation for both employers and job-seeking specialists. While the company receives competent support without the disadvantage of long-term personnel costs, the employee can again receive a regular income, make new contacts and increase his market value.

In some cases, the temporary assignment also serves as a kind of probationary period: If the employee does a good job and the personnel requirements are permanently secured, the specialist can be taken on in a permanent employment relationship. Also, thanks to these advantages, temporary work has established itself for activities in the administrative field. However, it is also appreciated in other industries such as finance and accounting.

Here are the lists of 15 recession-proof jobs

1. Registered Nurse (RN)

R.N.s, as nurses are commonly known, care for patients and provide emotional support to them and their families.

Required education: Bachelor, Associate, or Diploma in Nursing

Median Annual Salary (2018): $71,730

Number of employees (2016): 2.9 million

Projected job growth (2016-2026): 15 percent (much faster than average)

Projected increase in jobs (2016-2026): 438,100

2. Physiotherapist (PT)

Physiotherapists, often known as P.T.s, have a variety of modalities to restore their patients’ mobility, relieve their pain, and avoid or limit further disabilities.

Required Education: Doctor of Physiotherapy (DPT) degree

Median Annual Salary (2018): $87,930

Number of employees (2016): 239,800

Projected job growth (2016-2026): 15% (much faster than average)

Projected increase in jobs (2016-2026): 67,100

3. Occupational therapists (OT)

Occupational therapists, often referred to as O.T.s, help their patients regain their ability to perform tasks of daily life.

Required education: Master’s degree or doctorate in occupational therapy

Median Annual Salary (2018): $84,270

Number of employees (2016): 130,400

Projected job growth (2016-2026): 24% (much faster than average)

Projected increase in jobs (2016-2026): 31,000

4. Special Agent (Detective)

Sometimes, detectives or criminal police have unique active ingredients to determine whether people have broken laws.

Required training: H.S. diploma plus experience as a police officer

Median Annual Salary (2017): $81,920

Number of employees (2016): 110,900

Projected job growth (2016-2026): 5% (as fast as average)

Projected increase in jobs (2016-2026): 5,000

5. College Professor

College professors teach students various academic subjects at post-secondary institutions such as community and four-year colleges.

Required education: Doctorate in the field; Master’s degree may suffice at some adult education centers.

Median Annual Salary (2018): $78,470

Number of employees (2016): 1.3 million

Projected job growth (2016-2026): 15% (much faster than average)

Projected increase in jobs (2016-2026): 197,800

6. Teachers

Teachers provide elementary, middle, and high school students with instruction in various subjects, including math, history, language, arts, science, music, and visual arts.

Required Education: Bachelor’s degree in Education; A master’s degree is required in some states

Median annual salary (2018): $55,470 (kindergarten); $58,230 (elementary school); $58,600 (middle school); $60,320 (High School)

Number of employees (2016): 154,000 (kindergarten); 1.4 million (primary school); 630,000 (middle school); 1 Million (High School)

Projected Job Growth (2016-2026): 8% (kindergarten); 7% (primary school); 8% (middle school); 8% (high school); All will grow as fast as the average

Projected increase in jobs (2016-2026): 12,300 (kindergarten); 104,100 (primary school); 47,300 (middle school); 76,800 (High School)

7. Undertaker

Funerals coordinate all the details of funerals, including services and funerals.

Required Education: Associate Degree in Funeral Home or Mortuary Science

Median Annual Salary (2018): $52,650

Number of employees (2016): 28,700

Projected job growth (2016-2026): 4% (slightly slower than average)

Projected increase in jobs (2016-2026): 1,100

8. Accountant

Accountants prepare, examine, and verify the accuracy of the annual financial statements.

Required Education: Bachelor’s Degree in Accounting

Median Annual Salary (2018): $70,500

Number of employees (2016): 1.4 million

Projected Job Growth (2016-2026): 10% (faster than average)

Projected increase in jobs (2016-2026): 139,900

9. Computer Hardware Engineer

Computer hardware engineers manage the manufacture and installation of computer systems and servers.

Required education: Bachelor in Computer Science

Median Annual Salary (2018): $114,600

Number of employees (2016): 73,600

Projected job growth (2016-2026): 5% (as fast as average)

Projected increase in jobs (2016-2026): 4,000

10. Software Developers

Software developers oversee the creation of programs that make computers, mobile devices, video game systems, and e-readers function.

Preferred Education: Bachelor’s Degree in Computer Science

Median annual salary (2018): $110,000 (system software developer); $103,620 (Application Software Developer)

Number of employees (2016): 425,000 (system software developers); 831,300 (Application Software Developers)

Projected Job Growth (2016-2026): 11% (system software developer, faster than average); 31% (Applications software developer, much faster than average)

Projected increase in jobs (2016-2026): 47,100 (System Software Developer); 255,400 (Applications Software Developer)

11. Maestro

Teachers are almost guaranteed jobs during an economic downturn. We will always need teachers, and schools do not go out of business just because the economy gets worse.

Also, teachers in the United States have some job protection by being part of a union.

In some states, public school teachers and professors enjoy a benefit known as tenure (a form of job tenure). Although the term does not guarantee permanence

in employment, it DOES require that due process and a specific procedure be followed before dismissing teachers who have this benefit. This makes teachers more challenging to fire.

12. Internet Marketing

During a recession, companies tend to spend more on marketing to increase sales and raise awareness of their products. So they need the services of website designers, SEO experts, programmers, and social media advertisers to promote their business.

You don’t need much to get these jobs. You can take online courses (like Udemy’s Internet Marketing Course) that teach you everything you need to work for yourself or for a company.

Best of all, if you have your blog, you can passively earn money and have a recession-proof business. If you don’t consider yourself an entrepreneur, you may be able to get a traditional job.

The companies that will hire you will not be as interested in your education, but they will want to see a sample of your results. So it is essential to start a portfolio of projects right now, which will open the doors to the best jobs for you.

13. Funeral Director

We don’t want to think about this, but regardless of the state of the economy, people are always going to die. Funeral directors have a job that is not tied to the recession or the state of the economy. They always have to be there to organize and supervise funerals.

Unfortunately, funeral homes are big business in America, averaging up to $10,000 for each deceased; however, getting into this industry takes a bit of preparation.

You will generally require a high school diploma and a bachelor’s degree in funeral studies. You will likely have to take a state licensing exam to be certified as a funeral director.

14. Physician Assistant

The healthcare plan in the United States needs more and more workers, so being a physician assistant can open many doors for you and provide you with a job

security during a recession.

Unlike a nursing career, physician assistants do not require as much education.

Physician assistant training programs typically take about one year and allow you to gain the necessary experience to take the state exam. So you can get your license to practice.

Note: Some states don’t require a license to practice as a physician assistant.

Why is this job safe during a recession? Because people will always need medical attention.

15. Public accountant

Regardless of the economic climate, Americans will always be taxed. So you will always need accountants and auditors during tax season.

To work as a pro account, you will need a college degree (at least an associate’s degree) in accounting and a certification as a public accountant. You can get this certification by passing an intensive exam and meeting additional state requirements.

A career as a CPA can be secure and lucrative during a recession.

Seven financial goals you need to set for 2022 (financial goals, financial goals you need)

Financial goals will serve as incentives to make good use of your finances. These will give you purpose and drive you to achieve your personal and professional goals through the excellent management of your money. Are you ready to create financial plans to help you succeed in 2022?

Here are 7 of the financial goals you will need:

1. Reduce your monthly expenses

When we talk about short-term financial goals, most people usually imagine things like buying a house or a car. And while those are reasonable financial goals, it’s essential to start with the most straightforward: manage money well.

Reducing the monthly expenses is the most important financial goal and, in some cases, one of the most difficult to meet, mainly because we are used to a particular lifestyle. However, to have a good 2022 and not lack money, we recommend you organize your spending budget well and cut back on the critical areas.

2. Increase your income

Although it may seem that the above example of financial goal has a direct link with the increase in income, the truth is that it does not. Saving money is not the same as increasing the amount of money you receive from time to time.

Therefore, after saving, another of your short-term financial goals should be to increase your income. Whether it is because you receive an increase in your work, begin to develop your entrepreneurship plans, or make an investment, we suggest that you set yourself the financial goal of generating more and more money.

3. Start saving with purpose

Saving for the sake of saving does not necessarily have to be a financial goal; some people do it unconsciously and do not take advantage of the opportunities that come with having some money saved; so that this doesn’t just happen to you, the best thing you can do is plan something you want to achieve, and propose a

savings scheme that allows you to do so.

You can save both to set up your pastry shop and take a trip or any other personal dream you have. Ideally, you should reserve by always keeping your other financial goals in mind.

4. Pay your debts

“He who pays what he owes knows what he has.” Being debt-free takes away from our worry and allows us to think more clearly about what to do with our money. Therefore, one of your short-term financial goals should be to get out of all your debts.

In addition, you should keep in mind that debts are often a kind of leak that drains our capital since lenders or banks always charge interest for what we owe them.

You know, write this down on your list of short-term financial goals and, as much as possible, avoid prolonging the life of your debts.

5. Make suitable investments

Entrepreneurship is not the only financial goal that can allow us to work on our own; if we have some capital and know where to invest, we can also multiply our money and live without meeting schedules.

Learning to invest can be one of your financial goals for 2022, whether in the financial markets, investments in cryptocurrencies, or investments in your projects.

6. Have an emergency fund

Life is full of great times and bad times. The best way to be prepared to face any unforeseen situation is to have resources available. Suppose you include savings for emergencies within your list of financial goals. In that case, you can likely get around the situation and get out well.

In addition, it is a short-term financial goal because, to begin with, you do not need a specific amount; you have to save what you can for the future. Even if it’s small amounts of money, having an emergency fund will help you recover from almost any situation negatively affecting you.

7. End the year with money

Usually, every time a year ends, we take stock of the things we achieve. On more

than one occasion, the balance has not been as positive as expected. But this year, you can propose that one of your financial goals is to make ends meet with money in your account and your pockets.

This financial goal is more important than it seems because it allows us to start a new cycle with encouragement and hope. You could set a specific amount you’d like to reach, or you can try to save as much money as you can.

The idea is that you can see reflected all the effort you made during the year and feel satisfied with your effort.

How to set financial goals?

Financial goals will help you determine where you want to go and how to achieve them. Here are four steps to establish practical financial goals this 2022.

1. What do you want to do with your money?

All people have different goals and plan to do different things with their money. While some have financial goals because they want to buy a house or a car, others are dedicated to creating a college fund for their children.

Financial goals can vary depending on the stage of life you are in. This will determine your priorities and your life plan related to your finances.

Although all people want to grow their money, they must ask themselves how much? How fast? And for what? This way, they will be able to define their financial goals and find a way to achieve them.

You can ask yourself to understand how to define financial goals: what life do you want today? And what life do you want in the future?

The SMART method is excellent for defining financial goals. This consists of setting objectives taking into account the following factors:

Specific. This will enable you to narrow down your financial goals, making it easier to create a plan to achieve them. Avoid setting ambiguous financial goals and make concrete facts.

Measurable. How do you understand if you’re on the right track if you can’t measure progress and the outcome of your goals? Especially about finances, you must be able to evaluate if what you are doing works, or you must make changes in the plan to achieve your financial goals.

Achievable. When we talk about achievable goals, we mean that they are realistic.

Everyone wants to be a millionaire quickly, but is it possible? Suppose you want to know how to set financial goals. In that case, you need to consider what your capabilities and resources are and what methods you have available.

Relevant. Is it essential to achieve this financial goal? As we mentioned earlier, they all have different purposes. Consider what effect meeting this financial goal will have on your life plans.

Time. Setting a time limit to meet your financial goals is very important. It will help you organize your action plan and monitor your progress. In addition, it will serve as motivation. However, do not forget that the deadline must be realistic. For example, it is impossible to save a million dollars in 3 months if you have a part-time job.

2. Rank your financial goals

Once you’ve drafted your financial goals for 2022, it’s essential to organize them. In this case, we suggest you sort your goals into three categories: short, medium- and long-term goals.

Short-term financial goals. Short-term goals are those closest to the present, that is, those you can apply immediately.

Medium-term financial targets. Medium-term goals are the ones you want to achieve soon. These are usually divided into tasks and require prolonged commitment.

Long-term financial goals. When we talk about long-term goals, we mean goals to be met in five to ten years. They also depend on short-term and medium-term financial goals; they need to be aligned.

3. Set a date for each financial goal

Although we have addressed this point before, we want to emphasize the importance of setting deadlines to achieve financial goals. This will allow you to create a detailed step-by-step plan that, in turn, will help you manage time and be more productive.

Also, having a specific deadline to reach your financial goals will create a feeling of commitment and prepare you for the pace of work. Also, the dates represent a challenge, so they will encourage you to demonstrate your capabilities and your efficiency to meet the challenge. Finally, meeting the deadlines of your financial goals will satisfy you and give you the motivation to achieve the following.

4. Prioritize the most important financial goals

Now that you know what financial goals to set for yourself in 2022, which one to start with? Prioritize your financial goals to identify where to place your money. Once they are sorted by temporality, you can organize them according to their relevance.

Of your short-term financial goals, which are most important? You can divide your financial goals into three categories: essential, necessary, and desired. If we talk about crucial goals, they are those that you cannot fail to fulfill; the required goals are those that represent something that would benefit you to incorporate into your life; and finally, the desired goals are the goals that you would like to meet, but are not indispensable to your life