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3 strategies to prepare your business for the economic downturn

There’s little doubt that the world is headed for a recession in 2021 - and some countries may even have to contend with a depression. However, that doesn’t mean that ambitious business owners should put all their growth plans on hold. In fact, inaction and complacency is the riskiest way to deal with a global downturn. But so is being overly reactive. The best strategies to prepare your business for the economic downtown master a balance between reducing costs and investing more. But not in the ways you think.