Depending on who you listen to, the UK, perhaps along with the rest of the world is headed for a recession. Some of the early indicators are already flashing, such as inflation and interest rate rises, and significant pressure for wage increases in many sectors.
Of course this will be a more challenging recession coming as it does off the back of a worldwide pandemic and the impact that has had on supply chains and business profits for example.
So let’s consider what businesses need to change as the economy turns. What should they do differently in a recession…?
Actually nothing.
Good business practice is the same in a recession or a growth phase. The only difference is that in a stable economy where the financial pressures are less, businesses and individuals become a bit more complacent.
To read the rest of this article and look at a few key issues where every business should be focusing their attention too in this difficult period, please click ‘download’.