TomorrowMakers

It is not in anyone's interest to experience another recession, especially those who have been through one back in 2008-09. It's impossible to control that situation, no matter how much we don't want to. Nothing can be controlled. In the event of a recession, you will lose your job. The solution is to start a side hustle that is recession-proof.

The 5 Best Recession-Proof Businesses for a Side Hustle

No one in the world wants to face another recession, especially those who have faced recession back in 2008-09. Even though we don't want to face that situation, there is nothing we can do to control it. It is beyond one's control. So the truth is recession can come, and if it does come, it will impact your job.

The only thing you can do is be prepared for it. What is the solution? The solution is starting a side hustle that is recession-proof - it means even if a recession comes, these businesses will continue to find customers. 

Below are the top 5 recession-proof ideas for your side hustle:

Food and Beverage - Irrespective of the world's situation, one thing people will always need is food and beverages. They need it more during a recession because people stop going out to dine to save money. You can open a business delivering food and beverages at their homes. This is just one example - there is a lot more you can do with food and beverages. Pick one that you think works best for you.

Delivery services - You can start a delivery service as the demand for certain things never goes down. Thanks to the pandemic, demand for online delivery has increased manifold. There are multiple options when it comes to what you can deliver. 

You can deliver food, grocery, parcels, etc. You should understand your location, people living around your area, their demands and expectations, etc before you decide what you are going to deliver. For example, if you are in a tier 1 city, food and grocery delivery can work but if you are in tier-2 and tier-3 cities, it won't be a good idea. 

Daycare - Though birth rates tend to drop during the recession, child care services always remain in demand. Hence, it is one of the best recession-proof ideas to get started. In fact, in some cities, the demand can go higher because both parents start to go out to work to meet ends meet. They will need child care support for that. Hence, you can start daycare services today and be assured you will have parents looking for the services even in a recession.

Online Courses - During a recession, most people look to rescale or upscale themselves. The classroom programs are costly, and hence they don't go for it. The most preferred medium is online courses. You can create an online course around your expertise and reach thousands of students. The demand will not go down even in a recession, so you can be assured, you will continue to earn from your course.

Freelancing - Most of the above side hustle requires money to start. If you don't want to invest, you can start freelancing. Most companies cut costs during recession and look for remote workers or virtual assistants. You can start a virtual assistant service as a freelancer, and it will continue to be in demand even during a recession. 86% of freelancers prefer to work from home, while 84% of freelancers say their work lets them live a more flexible lifestyle.

Conclusion

These are just some ideas for a side hustle. There are many more. You can explore all the options and start working on the one you think you would love doing. If you want to do something for long, you need to love doing it.