From the course: How to Protect Business Profits in a Financial Downturn
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Preparing for the upside
From the course: How to Protect Business Profits in a Financial Downturn
Preparing for the upside
- [Instructor] When people talk about recessions, they're usually focused on the downside. But the truth is that an economic downturn can also present opportunities for growth. And there's a few different areas. First is the labor market. If your company has solid cash flow and you see opportunities coming down the line chances are you can hire better people for a better price point during a downturn than you could during an expansion when things are booming. After all when the economy's slower there's a bigger labor pool so you can get the best people. The second thing to consider is office space. If you want the best office space possible you have a better selection during a downturn. If you're expanding and others aren't, you get the pick of the litter. Same thing's true for equipment. You might have the opportunity to get a better deal. Negotiate better lending terms, or just overall be making a purchase in a…
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