If you’re planning on starting a digital business, right now the first thing on your mind should be: “What are the most recession-proof online business options?”
The pandemic ushered in a global recession, which began with an economic slowdown that led to the 2020 stock market crash. In the US, 34 percent of small businesses are still closed to this day compared to January 2020. That’s catastrophic, given that 99.9 percent of all businesses in the US are considered ‘small businesses’ – and collectively employ almost half of the nation’s private sector workforce.
So, what are the best recession-proof online businesses to form in 2022?
Digital marketing and web development agencies.
Of 1,000 businesses surveyed by Harvard Business School, 43% said their biggest challenge during the outbreak was a fall in demand for products or services. This is where the first recession-proof online business idea – digital marketing – comes in.
Digital marketing companies help brands leverage the power of the internet to reach more customers.
By offering digital marketing strategies like SEO, social media marketing, and content marketing, you can help businesses increase the demand for their products or services.
The world has shifted to a more digitized economy. As such, one can only expect this sector – along with web development agencies – to experience continued growth.
Digital marketing company
It’s no surprise that businesses would invest heavily in their digital marketing efforts post pandemic. It has become standard practice for consumers to surf the internet and social media in search of products and services.
But there’s a reason digital marketing companies have thrived even more so during these times: Companies want to see immediate results. And many prefer contracting outside specialists to learning and implementing the different strategies themselves.
Furthermore, a study conducted by Google and the Boston Consulting Group found that companies that invested in digital marketing saw 2.5 times more growth than those that didn’t.
Web development agencies
A web development agency is also considered a recession-proof business to form in 2022. Many businesses had to move online due to the pandemic. This meant they needed websites and other digital platforms to stay afloat in their respective industries.
If you have the skills to develop websites, then you can start an agency and help these businesses succeed. Businesses that have transitioned to online platforms may find the need to revamp their entire website. This line of work will provide a continuous stream of business as websites are never static – they require constant updating.
You can help brands create a strong online presence and reach their target audiences through various digital channels. By doing so, you’ll not only help businesses bounce back after the pandemic, but you’ll also position yourself as an essential service provider that can help them grow in the long term.
Why are these two options considered recession-proof online businesses in 2022?
There are multiple reasons why these two online businesses are considered recession-proof in 2022.
To start, consumers are spending more time and money online than ever before. This means that there is a high demand for services that can help businesses to maximize their online presence.
Second, many businesses have decided to cut back on traditional marketing and operational strategies.
This has created an avenue for digital marketing companies and web development agencies that can provide affordable yet more effective solutions.
The startup options stated above are two of the most recession-proof online businesses to form in 2022. These industries are essential for businesses that want to succeed post-pandemic.
If you have the skills and expertise to start a digital marketing company or a web development agency, now is the ideal time to do it.
You can start by finding a professional registered agent. They will help you with all the procedures necessary to get your business started the right way. As well as startup advice and incorporation, the best will even provide bookkeeping, paralegal and apostille services, plus office space and office admin support.