In 1988 I was interested in starting a retail business. My partner, much wiser and wealthier than I, had weathered several recessions in his entrepreneurial quests and shared his insights that have stuck with me over the years. Here is what I learned from watching, listening and actively being involved in business ownership and investing through several recessions.
For businesses to be successful, they need to withstand and even thrive during a recession. There are, however, things you should consider when buying or running a business as you head into a recession.
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