Which businesses are recession-proof?

Recession-proof businesses are industries that are able to withstand economic downturns and maintain profitability even in uncertain times. Essential businesses such as healthcare, grocery stores, and utilities are generally considered recession-proof because people will always need these services. Additionally, industries such as accounting, debt collection, and discount retailers tend to perform well during recessions as people prioritize saving money and managing their finances. However, it's important to note that no business is completely immune to economic pressures and external factors such as sudden shifts in consumer behavior and technological advancements can also impact a company's performance during a recession.

This mind map was published on 20 June 2023 and has been viewed 131 times.