CEO Today - September 2022

What Every Startup Needs to Do to Survive Economic Downturn Annie Button It can certainly be said that businesses have had to face a very significant level of economic turmoil in recent years. The COVID-19 pandemic along with its longenforced lockdowns was an enormous challenge for all industries, but this was only compounded by further problems such as the Russian invasion of Ukraine and an unsteady political atmosphere. So small businesses just starting out on their journey already had their work cut out for them. However, these challenges have gone on to create something of a further global issue – and that is economic downtown. With rising inflation, spiralling petrol prices and customers facing cost-of-living challenges, perhaps it is not surprising that startups have struggled. However, running a small business is never easy, so trying to operate in turbulent economic times makes things especially hard. In this article, we’ll take a look at the things that every startup needs to do if it wants to survive the economic downturn.

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