What are the most common mistakes businesses make during a recession?
A recession is a period of economic decline, usually marked by a fall in GDP, income, employment, and consumer spending. Recessions can have various causes and effects, but they often pose significant challenges for businesses of all sizes and sectors. How can businesses survive and even thrive during a recession? The answer depends on many factors, but avoiding some common mistakes can help businesses minimize the negative impacts and seize the opportunities of a downturn. Here are some of the most common mistakes businesses make during a recession and how to avoid them.