During a Recession Business Basics

[William T Stephens]

• Avoid increasing, and if possible reduce, your exposure to these financial risks.
• For example, you'll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt all of which can increase your financial risk during a recession.
• If you're an employee, you'll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.
• If you're a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.