7 Steps to Recession-Proof Your Business

The United States has experienced 13 recessions since 1945, according to the National Bureau of Economic Research. The shortest, in 2020, lasted just two months. The longest, at 18 months, peaked in 2008. Many CFOs remember that long stretch of dismal highway, but many of the counteracting moves you should make now are different thanks to a unique blend of 40-year-high inflation, record-low unemployment and supply chain turmoil.

Don’t wait until all you can do is slash spending and schedule layoffs. Start now with these seven steps, and set your company up to weather whatever may come next.

Will there or won’t there be one? When it comes to a downturn, our crystal ball is broken. But we do know that smart CFOs are hedging via moves like:

  • Baking customer and supplier health into cash flow calculations
  • Developing tiered forecasts with corresponding cuts
  • Tracking the metrics that reflect reality now

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