I lost my small business in the Great Recession but at least I learned how to prepare for the next one

survey, business owners were asked about the potential for a recession. Nearly two-thirds of small business owners said current business conditions are good or excellent, while 43% said they are concerned that a recession will impact the success of their business in the next year.

I applaud any business owner who is willing to meet adversity head-on and not let it keep them from reaching their intended goals. As Marcus Aurelius once said,However, it's foolish for the same business owners to battle adversity without having a strategic plan, along with a backup plan, if they want to survive in one piece. Here are five ways to get your business ready if/when a recession hits our economy.I cannot emphasize this point enough.

What if a recession hits our business? What if the bank pulls our line of credit? What if our largest customer goes out of business and takes our receivables with them? What if we lose our top salesperson?

Happy for him/ her. Lost mine. Yet to recover all the money I lost.

Are you ready The next one starts before month-end

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Every $1 NASA spends drives up to $10 in growth, and that's great for the space industry, says man behind the UFO ETFSpace spending is on the rise, and that's bringing about a 'really exciting time for the industry,' says Andrew Chanin, CEO of ProcureAM, the firm behind the Procure Space ETF. ETFEdgeCNBC Thanks for including me in this piece! Happy to connect any time.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »