Top 5 pandemic-proof industries

Here are 10 recession-proof business ideas you can start today, complete with examples. While restaurants, bars, educational services, theaters, and many other small businesses that depend on foot traffic and in-person interactions suffered, other types of businesses have actually thrived. Businesses in these industries are either recession-proof—and even pandemic-proof—ventures, or have been able to pivot their operations successfully to account for shifting customer demand. It’s alright to start small and sell your services within your network only.

For example, Glossier started out with only 4 products, and has now become a billion-dollar beauty brand. Investing in strategies that grow brand awareness and drive sales is crucial for reaching potential buyers and increasing your market share. Try social media marketing, running ads on Google and social platforms, and investing in content marketing to generate traffic to your brand. During the 2008 recession, The Home Depot pivoted to reach more DIYers after fewer tradespeople came through its door.

Only 7% of CEOs appointed so far this year have been women

There are laws and regulations across the US that stipulate a level of cleanliness for businesses, and many will hire external firms or contractors to carry out the work, rather than employing individuals within the company. Plumbing and utility services are specialist skills, but for smaller home repairs, many people will look to cheaper alternatives. Hardware stores offer solutions for DIY home pandemic proof businesses repairs that are accessible for most. They are also pandemic-proof businesses—during the 2020 recession, nearly twice as many consumers were shopping at hardware stores than before COVID-19 hit. If you want to start a business during a recession, choosing the right sector is key. In times of economic uncertainty, the best business opportunities can be found in recession-proof industries.

There are as many businesses that have traditionally seen their online presence as a promotional ‘add on’ to their bricks-and-mortar shop front. In the aftermath of the pandemic, companies can rebuild a workforce that is better equipped for an economy in which routine and repeatable tasks are increasingly machine-enabled. In addition, we included unemployment rates for each of these industries, per the numbers reported by the BLS for the month of August. Industries with the lowest unemployment rates were assessed to be thriving as compared to industries with high unemployment rates. Businesses involved in financial transactions and underwriting risk make up the finance and insurance industry. Establishments in this sector can administer, oversee, and manage other businesses, including organizational planning and decision making—such as investment firms.

Online bakery

The utilities industry includes electricity, water, gas, and renewable energy. Should you wait to start your business with a possible recession on the horizon? If you’re still in the market for a business or franchise, you can consider finding or starting one that’s already recession proof. The COVID-19 pandemic has delivered a cruel blow to businesses over the course of the past 12 months, with entire industries effectively put on pause and little indication as to when they might be able to reopen. Travel, hospitality, entertainment and the arts are among the hardest hit sectors, being essentially unable to operate as countries around the world move in and out of restrictive national lockdowns.

Yes, many businesses have suffered economically and have had to lay off many of their employees. But there are other industries that have fared well, even prospered enough to reach new levels of revenue and profits during the pandemic. We pulled the questions and responses from this survey that we felt spoke the most to whether a business was performing well despite the pandemic over an eight-week period, from April 26 to June 27, 2020. Industries where the largest percentage of respondents selected the top-rated response were considered to be performing better than industries where smaller percentages chose the same.

Smart Tips to Become a Career Counselor in India

Companies including Mistobox, Trade Coffee and Yes Plz Coffee are beneficiaries in the social distancing world. Additionally, some coffee shops that have been closed storefronts have been able to generate new revenue streams by delivering beans, including many shops in coffee-dependent New York City. The coronavirus pandemic has pushed more people to spend time at home cooking and baking, making all sorts of new recipes. One part of this new trend is specifically baking bread, which is helping Americans alleviate stress and tap into their creativity.

Learn how to start a small business at home with these 21 pandemic-proof work-from-home business ideas for women in India. During the height of the pandemic in 2020, U.S. alcohol consumption increased by 45 million cases. And craft distilleries expanded by nearly 11 percent last year, closing in on 2,300, according to the American Craft Spirits Association. With rising consumer demands, the alcoholic beverages market value is set to grow by over $390 billion from 2021 to 2026.