Starting a small business is a risky proposition even in the best of times. If you’re thinking about starting one but are worried about how it will fare during a downturn, you might want to consider an industry that can be described as “recession-proof.”
These industries cater to ongoing demand. If a business provides goods or services fitting this profile, its odds of weathering economic storms are better than those that don’t. This is why medical and diagnostic laboratories saw 8.22 percent gains in 2009, a brutal year in the recession in which many businesses had a hard time staying in the black.
Data provided by the financial information firm Sageworksillustrate which industries have proven themselves recession-proof between 2006 and 2011. Sageworks also provided the insight of analyst Libby Bierman to explain why these industries posted gains in difficult times.
Read ahead to see which industries not only survived the recession, but thrived. They are listed alphabetically.
By Daniel Bukszpan
Posted 19 April 2012