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[overcast]

As we have more and more socialist policies. Business around the world will go through recession. And there is going to economic meltdown soon. So many business and govt are going to face the financial burnout. And they need consumers to consume the products and keep the supply and demand cycle moving. And it is hard to hold the business during this cycle. And if the niche of your online or offline business is not strong enough for recession, it can go pretty badly.

So how do you manage online or offline business during the recession?

 

[Dora_WalletInvestor]

I'm part of an online business and know other online businesspeople and from what I see it's a good place to be in right now, since the pandemic affects online businesses a bit less than brick-and-mortar ones.
As for recessions in general, I think it is important to have several options for earning an income - it's good to have a Plan B.

 

[anil02]

We must be continue marketing during recession period. We must be do some that customer never forget us and keep tops in mind. Recession period is stressful time for every one. For it we can send contents rich email to customers. Recession period slimmer of profit margin, so it is easy to maintain cash flow. We must be tired to our best to maintain cash flow.

 

[Ononivami1]

Recession for my offline business is really a blessing in disguise. I was able to make 5 times that amount I would normally make when there is no recession. I know very well that recession affected so many businesses but I managed to make more money during this period.

 

[ashim kate]

Encountering a business or general economic recession is one of the bad things to ever happen to you if you are an entrepreneur. In this kind of period it is very advisable that you should not spend so much money on unnecessary things and project. This is because you do not know exactly when things are going to return back to normal.

 

[ashim kate]

Starting any kind of business during the recession is definitely not going to be easy because there is a lot of uncertainty and very low liquidity at that time. I advise that you should focus more on getting international customers especially from countries that are stable because that will even lead to more liquidy from injection.

 

[Kubiat-Abasi]

As we have more and more socialist policies. Business around the world will go through recession. And there is going to economic meltdown soon. So many business and govt are going to face the financial burnout. And they need consumers to consume the products and keep the supply and demand cycle moving. And it is hard to hold the business during this cycle. And if the niche of your online or offline business is not strong enough for recession, it can go pretty badly.

So how do you manage online or offline business during the recession?

The best way to uphold or manage a business during recessions is that, at the point of developing a business plan, you should have some crisis management technique and a plan B in order to salvage unforeseen circumstances just like the covid-19 pandemic which took everyone by surprise and left many entrepreneurs in a state of dilemma.

 

[Kubiat-Abasi]

But it is not going to be that easy as even the business is affected by the recession. Whether or not they are being patronize it does not affect their products. But giving discount will be hard.

To be pragmatic, giving discounts on products during recession is actually a real hard nut to crack because you're taking a high risk investment. One of the best ways to uphold or manage a business during recessions is that, at the point of developing a business plan, you should have some crisis management technique and a plan B in order to salvage unforeseen circumstances just like the covid-19 pandemic which took everyone by surprise and left many entrepreneurs in a state of confusion.

 

[Ridorz]

I think the best way to hold a business for the era is to make a product affordable by producing it on size by size for customers to by in case of those that may not be able to buy a big size if the product, so three will be a nomal size for them to buy. And the quality of the product should be always.

 

[kaycee001]

Recession is such a challenging time for many business owners as they have to face massive drop in almost everything and only live at the mercy of what they have saved during good times, i think to survive as a business owner during this times one must be able to think out of the box and try to level up with their customers either by reducing price of products or making products easily available even though the profit at the end of the day might not be encouraging.

 

[Ridorz]

Running out of recession or staying in business despite recession is staying on course. To keep running a business during recession is supplying the day to day need of the people. When you supply what peopleneed you won't run into recession.

Yes, of course. If you really want your business to stay and keep running in a recession time, you have to make good plan for your business and make your product be a what people in the location want/need and you should let the product affordable and always available to buy.

 

[dorcasy]

There is what we called past approach, recession has been happening from time to time and for your business to still strive through it therefore means that you apply certain measures to overcome the recession.
Personally,I will limit supply of my products to avoid imbalance in demands.

 

[Wisdom01]

Whenever there is a recession in any country there is usually some kind of uncertainty and doubt and I saw the best thing that you can do for your business at this point in time is to avoid unnecessary projects. You can also be able to suspend every projects that you have that is not going to be a crucial to the growth of the company till when the recession is over and instead focusing on taking opportunities.

Yeah you are right and also the person should actually not buy too much goods in his shop , because of how inflation and deflation keeps happening ,until there is a little stability then the person could actually buy more goods in the shop ,these are very important details to note when it comes to business ,in times of recession business needs to take in a lot of precaution , because in that period they could make a lot of loss

 

[Shigobad2020]

Recession for my offline business is really a blessing in disguise. I was able to make 5 times that amount I would normally make when there is no recession. I know very well that recession affected so many businesses but I managed to make more money during this period.

That's why theres an adage that says one man's food is another man's poison , so the reccesion that has killed many peoples business in life has been an opportunity for some other people's business to thrive and become big during that same recession.

 

[Kennysplash]

One thing that can help during recession times is by cutting costs as low as possible. It can be employees or production costs. That way you won't have to spend out much when little is coming in. This is what many businesses do, it's not that they desire it that way but they just don't have a choice if they want to stay in business.

 

[Shigobad2020]

During recession , mostly all the offline business are hit and most are even crippled , but if an offline business want to survive through the recession , you need a good marketing strategies to solve all the issues and also continue advertising your business online