According to expert predictions, we can find ourselves facing a recession soon. Amidst the surging inflation and economic crisis, many companies are saying that their business has almost dried up. The recent high rocketing surge in inflation has marked a forty-year record high this June which can be problematic for businesses trying to grow amidst this economic crisis.
However, small businesses rising from the impending ashes of recession can still make it if they adopt a business model immune to the recession spike. If you have the right skills and a stable financial situation, starting a business at tough times can actually work out in your favor.
The major setback is that recession creates problems and completely transforms customer needs. This is the reason why new businesses need to have expert insight to identify changes in the market and pay attention to the evolving customer needs in the recession period. The only way you can thrive as an entrepreneur is when you deliver according to these two evolving factors of a business.
However risky it may be, some of the great businesses are born out of recession. Disney Launched America’s Great Depression when people were most in the need of entertainment and escapism, Microsoft was launched not long after the 1975 recession, and even Facebook became more profitable after the Great Financial Crisis of 2009.
Atlanta might also be facing an impending threat of recession among many business industries. However, that doesn’t imply the demise of business growth in Atlanta. The recession in Atlanta has given birth to many companies and businesses that are still thriving. While this may seem a little counterintuitive, starting a business in Atlanta closing the recession period might not be a bad choice if you have your customer needs and target audience all monitored.
We know that this can be a little hard to believe seeing the inflation eating up the economy and businesses popping the question of whether the US is currently facing recession or not. To ease you, we have curated a list of the most thriving businesses that made it out of the recession.
Here is a list of the top 10 recession-resistant businesses in Atlanta.
1. Professional Services
Whether or you believe it or not, we are entering a recession. While some might think that the economy will somehow chug along unscathed, it is still better to be proactive than reactive during times of crisis. The good news is that however tough the economic storm might get, there are still some businesses that can safely escape this whirlwind.
Some business models are pretty recession-resistant and can survive during the economic surge and might even thrive through it. And this goes especially for companies working in professional services since they can often fight recession efficiently and have a reputation for being proactive recession-proof businesses. Deloitte is one such professional services business in Atlanta that is known for battling the recession. Their professionals are working across diverse industries driving and shaping today’s marketplace. Through their lasting services, they are making customer put their trust in the capital market.
2. Internet and Web Services
The online market is ever-rising- this is because people have transformed their lifestyles to better accommodate their busy schedules. Especially in the post covid recession, we have seen that the internet and web services are now among thriving capital markets. Amazon is one of those thriving markets compelling people to put their trust in internet and web services to deliver lasting results.
Be it any model of Amazon, from prime delivery to AWS, they are focused on customer obsession rather than competitors and promote a passion for innovation. This is the major reason why they are one of the top recession-proof businesses.
3. Home Furniture and House Wares
This is another business niche that might never face recession. You have probably seen The Home Depot stores in your neighborhood if you are among the 90 percent of the US population. You likely have one store within a 10-mile radius of your house. The 2,200 retail stores take huge behind scenes work.
4. Information and Technology
Technology is evolving faster than we might think and this is the prime reason why technology businesses are so efficient in adopting the changes in the market brought about by the recession. IBM is consistently reinventing itself since 1911 and becoming one of the most imminent technology, consulting, and research companies in the world. Their resilience is proof that IBM is aiming to become a catalyst that can make the world work better.
5. Telecommunication Services
Being connected is very important in today’s fast world of technology. This is the reason why AT&T emerged as a recession-proof business in Atlanta. They focus on providing their customers with a better and more reliable means to stay connected.
6. Healthcare Services
Healthcare is one of the major recession-resistant businesses since healthcare doesn’t need the recession to end. CVS is one the major healthcare businesses in Atlanta making an impact and fulfilling changing dynamics of customer needs.
7. Real Estate
Real Estate is another business industry that thrives even during the recession. CBRE is currently the most prominent real estate and Investment Company in Atlanta.
8. Food and Restaurants
Recession cannot stop people from eating. This is the reason why food, restaurant, and grocery businesses are forever thriving. Some globally popular food brands in Atlanta are McDonald’s and Starbucks.
9. Automotive and Repair
Most businesses that require skilled local labor can remain stable during the recession period. AutoZone is one of the leading repair and automotive businesses in Atlanta providing people with reliable automotive accessories and services.
Despite education being expensive in the US, evidence suggests that education is a recession-proof business. Atlanta is no short of educational institutes. The University of Michigan is one of the popular educational businesses in Atlanta.