During pandemic lockdowns, many people drastically changed how they save and spend money. Those that lost jobs or income may have put a pause on retirement contributions, many people with student loans took advantage of the option to temporarily stop making payments, and almost everyone cut back on discretionary spending with more time spent at home…
Most entrepreneurs at least partially depend on the state of the economy for their businesses to thrive. During times of high consumer confidence, spending is higher, companies are willing to take more risks and most businesses are able to generate more revenue. But during times of hardship, it’s harder to get financing, revenue dries up and…
Four critical tactics to help owners keep their business upright during downturns
I can't think of a time when it isn't important for a business owner to be on top of his or her business credit, but it's even more important during a recession. How you do things now will...
March 11, 2020 is a day destined for the history books: “WHO Declares Coronavirus Outbreak a Pandemic.” It was that day that, all around the world, leaders began scrambling, ripping through the pages of their crisis playbooks (or quickly creating them), searching for their pandemic play-by-play. Shortly after came the day the markets crashed on March 16,...
The economic impact of 2020 will be felt for a very long time. Businesses have closed en masse, gutting certain industries and leaving millions of Americans without jobs. More than 40 million people — over a quarter of the work force — have filed unemployment claims since March.
As we face these scary...
Usually, defensive stocks tend to fare better during an economic downturn. These include essential industries, like utilities (water, gas and electric), consumer staples (food, drinks and hygiene products) and health care. Cyclical stocks, on the other hand, have a harder time weathering a recessionary storm, as people stop buying discretionary purchases. Industries that...