Job security becomes a priority during tough times, as workers are turning towards recession-proof businesses. Experts say that the key is to find a career that is immune to outsourcing, is showing long-term growth potential and is not connected to consumers’ easily-changeable taste. Here are 5 recession-proof business ideas.
1. Candy, cosmetics and contraceptives – during tough times, people are finding ways to indulge themselves without spending too much money. Heavy drinking is frowned-upon and expensive, so almost everyone can use a sweet treat for mood-improvement. Cosmetics and nail-care salons are also inexpensive ways for women to look and feel better. Contraceptives are reserved for budget-conscious couples who prefer to avoid unplanned expenses.
2. Luxury retail – recession has not been tough on everyone, as the number of super-rich grew in the last few years. Millionaires and billionaires can allow themselves to buy private jets, designer handbags and shoes and indulge in vacations on their very own islands.
3. Education – in US, public school teachers enjoy a certain job security. Even though schools operate on tight budgets and have to cut on some additional programs, teachers and especially college professors, do have a higher job security than other professions.
4. Vices – they say that sin wins when economy loses. People do not stop indulging during tough times, but they choose cheaper options of their favorite vice. Wine sales “by the glass” and sales of beer from cheap stores rose in the last few years.
5. Health care – one profession that is constantly in high demand is nursing. Some estimates claim that there will be 587,000 new jobs in nursing profession between 2006 and 2016.