Recession Business: 3 stand out segments
Do you know which businesses do well in a recession? I didn’t, until I read about Recession Proof Small Businesses from Scott Shane at Small Business Trends.
Scott analysed those business segments that did well during the 2001-03 recession and the 1990-91 recession. Doing well was defined as a segment growing by more than 20% across each of the following indicators: number of establishments, number of employees, total payroll. (Data: US Census).
The take out at the end of the article is that “insurance, health care, and consulting tend to be recession-resistant industries for people running small businesses.” Reading the article is recommended, as there are 42 individual industry segments Scott identified that beat the 20% hurdle in all three areas.
So there you have it. 3 stand out segments for recession business.
Are you in one of these segments, or do you serve some of these segments?
Do you have an online strategy for these recession businesses?
OM4 is an Australian based web agency that helps you find customers and convert online. We specialise in creating custom designed WordPress and WooCommerce websites that our clients can update themselves. So you get to express your brand without being tied down to the constraints of a template, but you can still update your own content using a state of the art page builder. We develop plugins, so we know our way around code. Interested? We'd love you to get in touch.