Organizations should always be prepared for an economic downturn. While the recession-related to COVID is more recent, the United States has experienced 12 different recessions since World War II. The margin for error is even smaller for small business owners or managers during a recession because they do not have the deep pockets of national corporations. Prevention measures, technology, and creative thinking are all an important part of preparing for an economic downturn. Make sure to check out the infographic below for 15 tips on how to best weather a recession. Many of these tips can also be implemented quickly so it is never “too little, too late.”
Infographic created by Clover Network, a merchant services provider