• Mon, Jul 06, 2020
  • 7 steps to recession-proof your small business.
  • Article by Rhonda Abrams, published in USA Today on June 30, 2020. 

    Blame COVID-19: the US officially entered a recession in February. I suspect that’s not news to you and your small business, as small businesses have been on the front line of this downturn, struggling to survive. In fact, since the shut-down, it’s estimated that over 100,000 small businesses have closed their doors for good.

    I don’t want you to be one of them, so there are ways to help ‘recession-proof’ your small business.

    1. Get the word out to "shop small, shop local"

    2. Stay agile, move fast

    3. Start lean, stay lean

    4. Figure out how you'll "pivot"

    5. Reduce the number of product or service offerings

    6. Be the less expensive alternative

    7. Develop counter-cyclical lines of business

    For a link to the full article, click here

    Steve Niehaus, MBA, CBI
    [email protected]