How does my business survive recession?

[joy101]

Business can survive these recession when you plan very hard ahead of time, but really know that is not easy for business these time to survive.

 

[Chibson]

Recession has a lot of negative impact on businesses and it has made a lot of businesses to fail. Good financial management is important.

 

[tyrim88]

Business can definitely survive in recession if you follow up your budget and resources plan in a disciplined manner, always update your customers as regards new products and available promos, advertise quality goods online as well, spy on your competitors to see to their developments, do surveys and market analysis at intervals, all these will enable you restrategize for the worst case scenarios.

Another thing that would be very helpful in the effect of mitigating recession is your ability to manage your resources effectively.and also a good managerial acumen of scarce resources would be of help.

 

[Ceeny007]

When recession happens it causes difficulties for people in the region, most vulnerable are low income earning households, government has to come to their and provide succor

 

[Kubiat-Abasi]

It depends on the business at stake. Although, no matter the business, recession would still have a little effect on the business. Essentials like; food items, pharmacy stores and financial institutions still stand tall during economic meltdown.

 

[Seno inyang]

Try minimize expenses as this will help push business forward and could easily survive online during recession, I mean an online business. Try and make it effective too so that it's noticed and patronised faster.

 

[Kaffyfolla]

Protect Your Cash Flow · Review Inventory Management · Focus on Core Competencies · Win the Competition's

 

[Kvngsammy]

Your business can survive recession if you as the owner is very innovative. Once you're not stuck in the old way of doing things, then you're sure of a place in your market.
The world is tending towards digitalization now, key into it. Make sure your business is now seen online.

 

[Blessedsam60]

Honestly not just your business alone. Recession has affected a whole lot of businesses from offline business majorly even down to some online business that need delivery. The best way for your business to survive is by digitalizing your business.