• Understanding the
    Economic Impacts

The longest bull market on record is over. Now the question becomes: What’s next? How can your business thrive in an economic downturn?

Between mandated shutdowns and shelter-in-place orders, financial market sell-offs, labor layoffs and budget cuts, the global economy has taken a wallop. With social distancing guidelines in place for the foreseeable future, a true recession—two quarters in a row of negative growth—is extremely likely. The question is what will be the extent of the damage to the economy and what will it take for businesses to once again thrive?

In an ideal world, companies would already be taking steps to recession-proof their organizations. But the reality is most companies are in crisis mode, and it’s hard to plan for the next crisis when you’re in the midst of an active one. Business leaders must understand the signs and take swift action to adjust business plans and address financial issues to avoid a decline even when the coronavirus outbreak abates. And where possible, they must seize opportunities to drive business growth.

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