6 Important Lessons from Businesses that Survived U.S. Recessions

Image by Gerd Altmann from Pixabay

It’s no secret that entrepreneurship is challenging, before it’s rewarding. Even after your business takes off, new and unexpected obstacles could confront you at any time. Take the COVID-19 pandemic, for instance. As the global economy currently undergoes the worst recession since World War II, many business owners – who have been hit especially hard during this time – are tasked with figuring out how to keep their company and livelihood afloat.

So, how exactly does an entrepreneur survive a financial crisis? Using lessons from businesses who have survived the Great Recession and other economic crises, we’ve listed advice that every business owner could benefit from to ensure you’re prepared for the unexpected or events that are out of your control. Whether it’s an economic downturn or an unexpected accident, making the right decisions for your business today can help you achieve your objectives tomorrow. See the infographic below to discover tips on how your small business can survive the COVID-19 recession.