Top
image credit: Unsplash

Stoyan Kenderov on Preparing Your Business for Recession

It’s nice when everything comes together for a video like it did with this one. But before we dive into preparing for a recession, it’s best to talk about what a recession is. We know it’s no fun, but what is a recession, really?

A recession is when the economy experiences a negative GDP, falling retail sales and increasing levels of unemployment. It causes monetary shrinkage to income and manufacturers, along with other businesses for an extended period of time. It is part of an unavoidable part of the business cycle, and it often creates significant havoc among many small businesses when it happens.

Read More on Small Business Trends