During a recession times are tough, for the majority of the population. However, some people fare better than others due to the nature of their employment. Most millionaires can keep their heads above water but what about the “regular Joe’s”? There are certain professions and small businesses that need not worry about begging for a loan from small business loans Canada, that naturally perform better than others when the economy takes a turn for the worse. Here is a list of some of these recession-proof businesses.

Repossessions

When your business is collecting possessions like vehicles, furniture and property from people who can’t make their payments- a recession tends to be good for business. In fact, this recession has been a boon for repo men. People are willing to give up their cars in order to keep their house. Joe Schmitt, president of the Rocky Mountain Repossessors trade group says he picks up 150 to 200 repossessions a month at his Denver-based JLJ Auto Recovery business. When he started in the business back in the 1990s, he picked up 25 to 30 a year. Bo Simon, owner of Western Colorado Recovery can also attest to the vast increase in business, saying his business has been up 220 percent over last year. He claims however, “It can be pretty disheartening. It’s not a fun business at all”. Similar to dentistry, this is not a business you go into if you want people to like you.

Junk Removal

Similar to the repo-man, junk removal does better than normal during an economic crisis. Sometimes when the bank forecloses on someone’s house the owners take off and leave most of their possessions behind. The junk removal industry is hired to remove all of this “junk” from the premises. But it seems removing people’s junk isn’t the only profitable biz during a recession; lest us not forget garbage! Fox Township, a tiny town in Pennsylvania, has been making a killing by accepting New York’s trash. New York City generates 36,000 tons of garbage every day yet the city’s last garbage dump was closed in 2001, forcing NYC to ship its waste elsewhere. Fox Township and a few others made the economically-wise decision of turning New York’s trash into their own treasure. The total NYC trash disposal bill doubled from $700 million in 2001 to $1.4 billion dollars just this past year.

Liquor Stores

Losing your job and realizing you have no money to pay bills and support your family often leads to one thing: alcohol consumption. Reuters reported that as Americans face tougher times from a slowing economy, they consume more alcohol. Interestingly, industry watchers noted that consumers are buying more “top-shelf” liquors, as consolation for the other luxuries they have to give up, such as vacations. Moreover, people are consuming less alcohol in restaurants (namely because they can’t afford such extravagancies) and taking the more economic route of drinking their sorrows away in the comfort of their homes. Restaurants are selling fewer bottles of wine, however  sales of wine by the glass as well as beer have increased. Moral of the story, when hard times strike, no one gives up their vices.

Medical Services

Unfortunately, getting sick never goes out of style, so for the most part, the medical profession remains safely insulated during a time of economic turmoil. Hospitals require various staff members for day-to-day operations, which includes doctors, nurses, secretaries, physiotherapists, orderlies, etc… There are also old age residences, drug stores, live-in assistance and other medical services that are in high demand. While medical specialists and medication are simply a necessity for society, there are certain branches of the medical industry that do suffer during a recession such as plastic surgery and dermatology. As this clientele will need to pay out of their pockets for these particular services, these types of professions are not-so-lucrative in tough times.

Veterinary Services

Most pet owners regard their pets as another member of the family so when their furry little companion gets sick or injured, medical assistance is a must. In Laurence Shatkin’s book 150 Recession-Proof Jobs, vet technicians (specialists handling everything from drawing blood to analyzing it in the lab) ranked #2 and is a field expected to grow 41 percent in the next decade. Veterinarians ranked #4. According to Shatkin’s research, in 2006, Americans spent $24.5 billion on their pets’ health care. That’s more than double what they spent a decade earlier. All that care is keeping pets alive longer, mainly due to technology advances that facilitate the diagnosing and treating of animals. All to say, this is a business that is solid and here to stay.

Cremation Services

As the saying goes, “Nothing is certain but death and taxes”. However, in a recession where people are forced to cut costs, death is no exception which is why budget-conscious families are turning to cremation rather than more traditional funeral services.  Yet it is not so much the price difference of a funeral package to a cremation that is the deal-breaker here. The  average funeral package (with a casketed service and a burial) costs approximately $4,277. A casketed service and cremation costs slightly less, about $4,054. The issue is that these funeral packages don’t include the grave, which can practically double the cost of a funeral.

Security

Major transportation hubs like airports, borders and ports all need a constant security presence. There is also a lot of private security offered in large public gathering places like malls, office buildings, sport/concert venues, etc…  A 2009 survey showed that 80 percent of security dealers have not been affected by the recession, at least not in any major way. A recent Parks Associates study shows that home security account attrition has only been nominally affected by the recession with a 4 percent to 8 percent increase in residential account cancellations. The security industry appears to be focusing on hiring as opposed to downsizing.

Grocery Stores

Everyone needs to eat, so no matter how poor the job market is, there will always be a steady demand for nutrition. Whether or not its nutritious nutrition is another story though. With the rise in food prices, sales of Spam increased as consumers looked for more economical meal plans. According to the US Agriculture Department, the price of food is rising at the fastest rate since 1990. Increasingly expensive staples include such items as white bread, up 13 percent over last year, butter, up nine percent, and bacon at seven percent.

Online Educational Services

With the growth and popularity of the Internet, brick-and-mortar schools have lagged behind the online degree providers. Both cost-effective and flexible, online schools have been experiencing a solid growth during this recession.

Consignment Stores

Offering the public almost-new products at a fraction of their retail price is an attractive offer. During a recession these resale outlets attract a new portion of the public that is looking for a way to spend less. These stores are also appealing to vendors whom are looking for a way to unload their merchandise in a hostile economy.

Pawn Shops

Pawn shops are another source for deals on second hand products that are in decent condition. During a recession there will be an increase in people trying to spend less while shopping; and obtain money by selling some of their possessions. Notably, a National Post article highlighted the fact that contrary to the popular belief that the pawn industry would grow significantly during economic downtime, the real change is the shift in clientele. It seems there is a steady rise in white-collar workers coming in to buy or sell their goods.

Collection Agencies

During a recession there is an increase of people accumulating debt.  Interestingly, collection agencies are getting more business but aren’t collecting as much, according to a survey released by Kaulkin Ginsberg of Rockville, an adviser to the accounts receivable management industry. Basically, because consumers are strapped for cash, collection agencies have no choice but to accept payment plans rather than getting payment in full. Still, collection agencies are in high demand as both businesses and individuals are having a hard time paying the bills so they need assistance getting their debt collected.

IT Services

Having computer skills and webspertise  is certainly an incredible asset in our highly tech driven society. Even during a recession there are small, medium and large businesses as well as countless individuals who require the use of computers and high speed internet. Some of the best recession-proof tech jobs include: software design and development, networking and systems administration, software implementation analysis, testing and QA, and database administration.

This list is meant to point out some of the more secure professions during a recession. Of course, no business is completely safe during a period of economic hardship, but these businesses appear to weather the storm better than others.