My first contribution to American Express OPEN Forum.
How Your Small Business Can Survive the Recession
By most accounts, this is going to be a long recession, and we’re still on the downward slope. As a small business owner, you will be forced to make drastic moves to survive. As you get your company into survival mode, keep the following in mind:
1. Prepare for a deep, long recession. Don’t count on a recovery until mid-2010, and even then, it may be a slow recovery. The global economy ran super-hot for the last 5 years on overpriced real estate, and the correction won’t happen overnight.
2. Assume it’s going to get worse. Like you, your customers are also cutting their expenses. As bad as the last 6-12 months has been, you may not be at the bottom yet.
Hi, I'm Greg. I'm a cofounder of Killer Aces Media. We publish community blogs like 