What is recession and how it affects us is a common topic of conversation may it be in offices, food chains, supermarkets, and streets. Causes of economic recession are part of the topic. People having businesses fear that they will be affected and it is their ardent prayer that they will be spared of it. Reality bites. Business establishments are actually affected. Those who are wise enough, resort to recession proof businesses. Are you familiar with bullet proof clothing? Or bullet proof cars? Or even a bullet proof building? If any of these exists then there are also recession proof businesses. The name itself denotes that even if recession is a reality, your business will still be there and it will stand the test of recession. Hence, if you have this kind of business, you will not have to worry what will be life during the great depression. All you have to do is manage your business well, take care of your customers, and spend your money wisely.As I surf the internet, this morning, my heart goes out to this blog entry. “I’m a fresh college graduate. As a gift, a relative gave me Php 50,000 pesos to start a small business. I know this amount is quite small but I’d love to have my own business. An aunt offered to let me use a business space at the heart of our town. They have these as a gift because they know my love for business. Since, I was a kid, it was an ardent dream for me to have my own business establishment. But I become chicken-hearted at present because I know that there is actually recession. I am afraid, my little amount of money will just go down the drain. People are experiencing economic financial crisis. Do I have any chance to have my dreams turn into reality? Are there really recession proof businesses? Please shed light on my clouded mind…”
This is an answer to that persons query but of course, this is also for all those who are interested to engage in business and those who would like to have this question answered: How to survive the great depression.In business, there is a term we use. We call this “countercyclical.” These businesses work even during recession. Some businesses actually do well during recessions; they’re “countercyclical.” For example, as both business and consumer debt mounts in a recession and companies need to collect every possible dollar they’re owed, debt collection agencies, companies that specialize in repossessing items and bankruptcy attorneys are at their busiest. Fact is, even during recession, people still have their basic needs – food, shelter and clothing. The first one mentioned is what people seek for or buy every four hours. There are those who eat three times a day and take snacks twice a day. If you happen to know what the people in your town likes and if you can offer it at a reasonable price, surely your business will still prosper. If you are inclined to writing – editing and resume writing, then your services will be in demand. People would like to apply for a job and they want to have presentable and correct application letters and resumes. Finally, health care services and health related items are surely in demand. These are only three of the recession proof businesses. Choose one now and start it right away. It is never too late for you to do so.