This section has focused on Surviving a Recession, but the recent explosion of the COVID-19 has prompted us to add an entirely new subsection.
There is a lot of information out about what individuals should do to protect themselves from the COVID-19. But, there hasn’t been much about how businesses could or should react. We all know that businesses are also critical to recovering from this process.
We have worked with others to find a great selection of helpful links. The resources below are just the beginning. We are on high alert for new ideas that will help our local companies.
The United States and much of the world are on the edge of a significant recession. Being able to consider how a company might handle such a downturn is a good thing. Smart business owners and managers watch the indicators and prepare for multiple eventualities. It's like the Boy Scout motto, "Be Prepared."
This section includes links to understanding how a recession is defined and measured. But, the primary emphasis is on what companies can do to minimize the negative impacts of a downturn. Forethought and vigilance are important. Having multiple strategies designed to cope with various scenarios can make a tremendous difference in the survival and prospering of a business.
Creating "What if" scenarios can be done without abandoning your current priorities. It is simply a matter of "Being Prepared."