Some entrepreneurs aren’t in business to present a new idea; they’re there because they love the thrill of entrepreneurship. These individuals aren’t necessarily looking to revolutionize anything. All they want is a business resistant to the ebb and flow of the economy. For some, the current events in the US are feeding fears of an impending recession. Reasonable or irrational speculation, only time will tell. In this article, Adam Ferrari – CEO of Ferrari Energy – details seven industries considered recession-resistant.
Innovative technology is at the forefront of the global economy. We love our widgets, and technology holds out the promise of making our lives evermore productive, enjoyable, safe, and healthy. A prolonged recession could be expected to dampen high-end, less essential technology products. Still, household and business staples such as phones, TVs, and computers will continue to sell with additional competitive pressure.
Our need for reliable energy is constant. This reliance is not dependant on economic conditions. Innovative energy solutions can be expected to experience waning interest. Still, legacy energy sources such as oil, natural gas, coal, wind power, and solar will continue to meet the country’s needs.
Maybe not the most obvious candidate for this list, but people are not any more likely to stop caring for their pets under poor economic conditions than they are their family members.
Healthcare and Senior Services
Hopefully, even more than pets, people will not decrease their healthcare expenditures under anything less than the direst economic conditions. People continue to age and become ill and will need medical services. These are the least discretionary services.
Even in an economic recession, construction will continue. It may look different than it does under bright financial news, but it will continue nonetheless. If new homes sales slump, upgrades and remodel work usually increases.
Poor economic conditions affect scofflaws just as they do law-abiding citizens. Poor economic conditions historically have been accompanied by an increase in crime. The need for security, both physical and cyber, will not decrease in a financial downturn. The more cost-effective a security solution is, the better it will fair in these conditions.
Food and Beverage
People need to eat no matter the stock market. Every other category will suffer before food and beverage. The more basic the food item, the more stable it will prove to be. Exotic items are more susceptible to economic conditions.
To find the common denominator for all of the above industries or to identify others, ask, “what will people need, even if the economy tanks?”
London Marathon organizers have decided to review the Sunday’s race security after two fatal explosions hit the Boston Marathon yesterday, but the event will go ahead, officials say.
At least three people were killed and more than 140 injured by the blasts near the finish of the Boston Marathon.
Sports Minister Hugh Robertson said he was “absolutely confident” the London Marathon could be kept safe.
London had “enormous experience” of delivering major events and the UK had some of the best security professionals in the world, he said.
Hugh Robertson added: “This is one of those instances where the best way to show solidarity with Boston is to continue.”
Home Secretary Theresa May has been briefed on the bombings by Scotland Yard Assistant Commissioner Cressida Dick and MI5 chief Sir Jonathan Evans.
London Marathon organizers have decided to review the Sunday’s race security after two fatal explosions hit the Boston Marathon
At this stage, there are no plans for a meeting of the UK government’s emergency committee Cobra, but high-level discussions were already planned and will go ahead because of Margaret Thatcher’s funeral on Wednesday, April 17.
The Metropolitan Police said security for the funeral in central London would not be affected by the Boston Marathon explosions and that it was a very different event.
London Marathon chief executive Nick Bitel said in a statement: “We are deeply saddened and shocked by the news from Boston.”
He later said he “fully expected” the London Marathon, which first took place in 1981 and was completed by more than 37,000 people last year, to go ahead.
Nick Bitel said security plans “take account of many contingencies, including this type of threat and incident, but one can’t be complacent and when it has happened, you need to then review those plans you have in place to see what else may be necessary.”
St James’s Palace said Prince Harry would still attend the marathon to make the presentations to the winners.
The London Marathon route, which is lined by hundreds of thousands of spectators every year, starts in Blackheath and finishes near Buckingham Palace, passing some of the capital’s most recognisable landmarks including Tower Bridge, Canary Wharf and Big Ben.
London Mayor Boris Johnson described Boston Marathon bombings as “shocking, cowardly and horrific”.
He has spoken to Met Police Commissioner Sir Bernard Hogan-Howe about the possibility of extra security for the London Marathon.
“We do have robust security measures in place, but given events in Boston it’s only prudent for the police and the organizers of Sunday’s race to re-examine those security arrangements,” he said.
British police say they have also launched a review of security for the Greater Manchester Marathon, due to take place on Sunday, April 28.
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