Economic recessions can be daunting for businesses across various industries, but agile new ventures have a unique opportunity to thrive during challenging times. During economic downturns, businesses want to reduce costs while keeping operations going. Any company can be agile and provide value to customers, so it is about scaling up or down in a feasible manner to keep satisfying customer needs and wants.
While new ventures are typically more agile than many traditionally run businesses, they still are not 100% recession-proof. Similar to other businesses, budget cuts often target marketing functions. Even in our digital-first world, marketing hasn’t fully shaken its reputation of being expendable.
