Small businesses do not have the deep pockets of national and international corporations. When a downturn arrives, there is not much margin for error. If you are a small business, it’s best to be prepared in advance. Firstly, preparing for a recession may call for an attitude of efficiency. This becomes important when making decisions to cut expenses and re-engineer jobs. Another aspect of recession planning involves creative thinking. To learn more, check out the infographic below for more tips to help your business survive a crisis. Many of these tips can be implemented quickly and effectively.
Infographic created by Clover Network, a handheld pos system provider
If you do find the need to bow out, there are services such as ExitAdviser that can help you through the toughest parts of selling your business.