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Business strategy
How to embrace recession in Business
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[QUOTE="Augusta, post: 298335, member: 25283"] There will come a time that there will be a sharp decline in economic activity which most times spread across the economy. This recession affects the business in the economy and would sometimes crumble the business. But during this period businesses still survived. you just have to be realistic and see how you can make your business stable. You can use the below tips to achieve this aim; You would need to reduce all unnecessary costs that might put further pressure on business finance The business cash flow must be protected at this time to avoid cash trap There should be nurturing of the existing customer base This is to still help keep the business running for a long time This is not the time to neglect the need of the employees to avoid mass resigning by the workers. This is the time to support the employees you're retaining. You would need to look for operational efficiencies to cultivate more which will help to sustain the hold the business for a long time As a business owner you would need to seek available assistance to help the business to still be stable You need to find a way to bring the business back to what it was before the recession. [/QUOTE]
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