What businesses will have the most problems during a recession?

[Bright7777]

During recession, the prices of commodities becomes higher and there are high rate of unemployment due to jobs loss because of the recession. So basically people will only be thinking about surviving and will spend more on food while spending much less on luxury commodities. So in that case luxury commodities business will suffer more.

 

[Trexxxy]

I agree I think a business that does not have much export power or does not get any of their product exported, suffers a lot during a recession. Local businesses more often than not are casualties.

 

[Alogakho Esson]

Men during recession I was so press that lead to my depression but later I join vinco innovation which is a mining company, I work as head quality control

 

[Bright7777]

During recession, investing in luxury goods do not bring any profit because every one is thinking of surviving and there will few people ready to buy luxury goods.

 

[Blessingedidiong]

Businesses that are likely to suffer the most during recession are computer,office supplies and electronics businesses. Car selling businesses may also suffer because people will not want to use the little money they have to buy cars rather they would want to use it to settle their basic needs like feeding and housing.

 

[Stnicholaz]

If recession occurs now, the businesses that will suffer are the ones who have no online presence or site where they maintain their customers, and also those operating businesses that are outside of the basic human needs( Food, shelter and clothing).

You very right. Business that will suffer are the ones that don't have online presence. That alone will reduce the sales because most of their online customers will shift to patronising those online.

 

[Toyoabasi]

What businesses will have the most problems during a recession?

I think those businesses that have the most negative impact, are small, locally owned businesses, computer and office supplies stores, furniture stores, and car lots.

During an economic recession, I think majority of the physical businesses suffer the most problems.
Apart from few like trading especially of food items.

 

[Ghost1]

Most impact would be felt by the market sellers. Most of them does not have any idea of how to operate in the online medium, as they can meet up one on one with customers due to lockdown, their business would fall

 

[Mayox25]

All businesses are affected during recession though the degree of impact varies. This is so because in recession the purchasing power of people reduce which has a direct link to low patronage on businesses.

 

[Laurentta]

During recession i feel businesses that deal on luxury goods will be more affected during a recession. For example, fashion industries

 

[Senator]

During a period of recession of whatever magnitude,many business will be affected in one way or the other. But a business that is majorly into importation will to me be the most hit business this period

 

[Patobobby]

Petty traders would be mostly affected because they do not have enough capital to invest in their businesses. Therefore in the case of occurrence of recession, the business would be highly affected.

 

[Innocent Jeremoth]

Retail, restaurants, and hotels aren't the only businesses often hurt during a recession. Automotive, oil and gas, sports, real estate, and many others see heavy declines during times like these.

 

[jay]

In short, I think all businesses that are offline will suffer the most out of economic recession. That is why I support those that believe all businesses should be taken on-line.

I don't really think that it's limited to only offline business when it comes to being affected during recession. Both online and offline business are bound to suffer from it because they all operate with the economy that's going through recession.

 

[Skysaint]

The only business I can think of right now that might even be more lucrative then is the agricultural business because no matter what, people still need to eat but as for all other businesses, they are sure to suffer a setback

 

[Kvngsammy]

What businesses will have the most problems during a recession?

I think those businesses that have the most negative impact, are small, locally owned businesses, computer and office supplies stores, furniture stores, and car lots.

Contrary to opinion, I think computer or tech supplies accessories would still do well in recession. Car lots however, wouldn't do as well; luxury items too, fashion stores, even beauty products stores and related businesses wouldn't survive too

 

[Godspower]

Every business is virtually affected by recession but the worst hit are the small and medium scale businesses who do not really have much capital base go rely on.

 

[Kane]

Most of the business will go into problems during recession except the business that deals with essential items life food, clothes, medicines, etc. I think the only businesses that re recession proof are medicines, clothes and foods.

 

[YERUS]

What businesses will have the most problems during a recession?

I think those businesses that have the most negative impact, are small, locally owned businesses, computer and office supplies stores, furniture stores, and car lots.

Almost all businesses will suffer during a recession, both online and offline businesses.
The effect would really be felt by those running small businesses, as inflation may set in and affect demand of their products or services.

 

[joy101]

The business that can have problem during recession is offline business, because theses will cause many people not to becoming to your business.