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How to embrace recession in Business
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[QUOTE="moonchild, post: 298399, member: 57467"] Recession is inevitable, as government and investors keeps on creating new bubbles, as a business owner you should steer your business to the point where you are not dependent on whether there is recession or not, what this means is to create something people truly want, I do not think a gas station owner worries much about recession. Well, if you got caught in the web you should assess your current expenses and identify areas where you can reduce spending. This could include reducing employee counts, cutting down on operational costs, or reducing the amount spent on marketing and advertising. By reducing expenses, businesses can ensure that they are not overspending during a period of decreased revenue. And then having a solid emergency fund in place is crucial during a recession. a good business owner should aim to save as much money as possible during good economic times, so that they have a cushion to fall back on during a recession. [/QUOTE]
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