How many of you know how to run your business in a recession?
Grab a coffee and have a proper read of this, because whilst a recession is not guaranteed, the lessons of the past give stark reminders between those businesses that failed and those that thrived.
Will your business be one that fails or thrives?
Interest rates have been increased to slow inflation, but this also increases the probability of a recession.
The economy shrank 0.1% in March and 0.3% in April. Two or more consecutive quarters of falling GDP is a recession.
The hope is that any recession will be brief and shallow.
History tells us that the average length of a recession is one and a half years with the average fall in GDP 1.7% per annum.
Household disposable income is predicted to fall 2% this year, a large fall in the context of the last 200 years and one that is typically only observed during recessions and financial crises. As you will see below history suggests watching for the warning signs of recession.
Download the full whitepaper, written by James Rimmer, Principal Consultant at ERA, today.
Please enter your email address to download this file.
"Analysis by Bain using data from the 2008 recession found the top performing companies didn't merely survive; their earnings climbed steadily throughout the downturn and continued to rise afterward."