Businesses that Thrive in Recessions

With the consequences of the 2008-09 banking crisis and bailout still being felt, and a looming Brexit making the future uncertain, the economic climate is currently rather chilly and threatening for most people. If you’re feeling insecure about the future, you might want to look at this guide to businesses that thrive on recession rather shrink. This could be your chance to find a new job or investment that will see you make a profit in this uncertain economy rather than worry about your losses.

Storage Facilities

Self storage companies find new and bigger markets in recessions. As others need to tighten their belts and downsize their homes and businesses, the demand for secure storage facilities grows and grows. New facilities and companies open regularly with one of the newest, byStored, offering a pick up and delivery service as part of their terms.

With less people buying houses and a growing army of renters, especially in big cities, people are also moving house more regularly and one of the primary reasons to use storage facilities according to a recent poll is to store items during a move.

If you are able to offer safe and cheap storage London will provide you with a crowd of customers who are all keen for your services.

Accountants

Rather than trying to cut costs by doing their own taxes, businesses continue to recognise the value of accountants during recessions. It’s a false economy to try and cut experts out of the picture for a small saving, as paying a modest fee for their services could net you a much bigger saving via reduced tax bill.

If you’re still picking a career or considering retraining to acquire more bankable skills, accountancy is a stable, safe profession that weathers downturns better than many others.

Entertainment

With bad news on every bulletin and jobs frequently unstable and poorly paid, anything that supplies entertainment and distraction tends to thrive in recession. Spending on alcohol and sweets goes up when people are depressed, and ‘affordable luxuries’ do well in place of premium purchases. For example, someone facing economic stress may choose to put off buying a a £150 cashmere jumper, but allow themselves a smaller treat like a £15 tube of lipstick.

Some smart marketing on your part could see your small business thrive as the next provider of affordable luxuries to people sorely in need of inexpensive but rewarding treats in a time financial gloom.

2 comments

  1. Ramya says:

    Thank you for sharing on Businesses that Thrive in Recessions, It’s really intresting

  2. Ramya says:

    Thank you for sharing on Businesses that Thrive in Recessions, It\’s really intresting

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