I was recently invited to share my thoughts on how to survive a recession for Wedding Planner Magazine. I know how crippling it was for my stationery business back in 2008 and I still have PTSD. But, there are some solid ways to protect yourself and prepare yourself from any impending doom. Read below to catch a taste of it. And, make sure to subscribe to Wedding Planner Magazine to catch more great business news.
Your business is likely not recession-proof. Most consumer products and services are impacted when the economy takes a dive. I know this not only from my years as a stationery business owner but also from my experience working in the fashion industry. When the economy takes a dive, every middle-to-high-priced consumer-driven business suffers. But, they do so at different scales. In the last two years, working with wedding professionals on their financial strategies, my focus has been to prepare them for the next economic downturn. Here is what you need to know.