Covid has had a devastating impact on the entire economy. Before this pandemic, economists were warning of a possible recession in 2021. Despite this, many business owners were still taken unaware and remain concerned with how to keep their doors open.
Unfortunately, it looks as if we will be struggling with these economic problems for the coming months. According to an IMF statement, the outlook for global growth in 2020 is negative, and it will be at least another year until we start to see recovery.
Here we’ll explore some tips and advice to help make your business recession-proof so you can weather the coming storm.