When the world goes through economic recessions, millions of people often find themselves unemployed. When there is economic instability, employers would find it hard to pay wages and would resort to tightening their workforce. However, there are a few business ventures that can stand through these hard economic times.
Food and Beverages (F&B)
People need to eat and drink to live, that is a fact of life. Food and beverages have the same importance as clothes and a place to stay. No matter what happens to the world economically, F&B businesses still thrive. What’s left is to choose the right F&B business to start at the right location.
Information & Technology (IT)
Something’s always brewing in the IT industry. Out of necessity in this ever-connected and fast-paced world, people need to keep up with the pace. If entrepreneurs play their cards right, they could maintain their IT-related business for a long time. The businesses could just focus on selling electronic gadgets or laptops, but it can grow in recessions because people need them.
Admit it, nothing is perfect. Not a newly-renovated home or even the latest advanced automobile. Cars can still break down and roof tiles can still fall off a building, after all. For all these emergency situations, the repair industry needs to be one call away. And unfortunately, not all countries are rich enough to employ A.I or robots to fix these things. That’s why the repair industry, like car maintenance businesses or even technicians who repair almost everything can still survive during economic recessions.
Healthcare and Elderly Service Industries
With growing research and development in healthcare, people are getting healthier and living longer. Medical advancement has made it possible for people to grow older. However, that also results in more needs to have jobs that care for old people. While the topic of sending parents to old folks’ homes is not openly discussed, there is an increasing need for these homes to be equipped with the necessary staff. Recession or not, the healthcare and elderly service industries always need more hands to provide their services.
Let’s face it: things always get dusty or dirty and they need to be cleaned. It doesn’t matter if it’s a home, a school or an office, these places are bound to get dirty over time, spilled drinks, mug stains, collected dust or hair, and the list goes on. Some people work more efficiently in cleaner work spaces. In places like hospitals and laboratories, a clean environment is absolutely necessary for them to function.