Tag Archives: prepare for recession

Tips for tough times

As the economy slows down and uncertainty prevails in the future of the business environment, it is wise to take action and ensure the sustainability of the business. It is also opportune to use the slow-down period to make strategic, structural and system changes that will not only get you through the tough time but also stand you for better results when the cycle turns. The key tips to to survive these challenging periods are: 1. Review the strategy and focus on consolidation and viability, Continue reading →

Prepare for RECESSION

Every business that has been running for a few years, has experienced an economic recession, yet some do not survive it. Some business owners panic and either freeze and hope that recession will not affect their business, or, take drastic actions (without proper analysis) thereby affecting the sustainability of the business. Preparing for a recession is part of any well managed business so when the signs of declining economic activity are felt, it should have plans in place to ride the depressed climate and sustain Continue reading →