By: Patrick Ungashick
The next recession is coming!
One does not need a Ph.D. in economics to know that an economic recession is coming. The hard part is predicting when it will hit, and how badly it will be. Given that we are currently in the ninth year since the previous recession ended in late 2009 to early 2010, it is reasonable to conclude that we likely are closer to the next recession than we are to the last.
We will let professional economists predict the next recession’s date and depth, and instead, examine what a recession means for business owners thinking about exit. The critical implication is that a recession can delay or block you from achieving your exit goals. For example, depending on your industry, and the strengths or vulnerabilities within your company, a recession potentially can:
For all of these reasons, you must have a clear set of criteria for determining when you should exit from your company, and what you must do to get your company and yourself ready. To start, consider watching this recent educational webinar on how to know when it’s time to exit. Then, contact us for a free phone consultation to discuss your exit situation and how to plan for the upcoming recession.