Economic downturns are always a possibility. In the United States, the economy has entered into a recession a total of 13 times before 2020. During the recession that occurred in 2007 to 2009 the small business jobs fell 39% more than at larger companies. This is why it is important for Small business owners and startups to prepare in advance for how to position themselves best during a recession. Community engagement, customer retention, and local partnerships are all a great way for small businesses to increase awareness and attract customers. For more tips on how to help your business weather a recession make sure to check out the infographic below.
Infographic created by Clover Network, a merchant services provider