How Your Business Can Survive Rising Costs And A Looming Recession
Friday, July 15, 2022
Prices are rising (8.6%, to be exact). This isn’t news. We see it at the grocery store, car dealership, and especially at the pump.
But thanks to a mix of slowed business growth and rising labor costs, we’re starting to see something new. Companies like Tesla, Netflix, Wells Fargo, and Carvana are facing hiring freezes and layoffs. Banks and economists have begun sounding the alarm about a looming recession.
If you’re a business owner who went through the last recession 15 years ago, you might be getting unwelcome flashbacks. And if your business wasn’t around back then, fear of the unknown might start creeping in.