The Looming global recession and how to run a recession-proof business for SME's creative entrepreneurs

JPMorgan: "Recession will rock the US and Europe by July."

World Bank: "With the heavy disruption in trade and value chain caused by the coronavirus pandemic, sub-Saharan Africa is set to record $37 billion to $79 billion in output losses this year."

What every small business owner should know about a recession.

For an economy to be in recession, it means there's a decline in growth (measured by GDP) for two successive quarters.  The average recession lasts for a year and a half (17.5months), and every economic zone experiences at least one recession every ten years. Besides the looming recession, the COVID-19 pandemic has disrupted the order of business. After every pandemic or recession, comes a new order that redefines old norms. Luckily for 2020, there would be both a recession and a pandemic in the mix simultaneously.

Medium and small scale businesses are usually the worse hit during any volatile business season. However, it would seem the multibillion-dollar players are...

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Marketing Products and Getting Sales to Business During a Crisis

Hey there Money Maykah,

How is business going on your end?

I know this is a tough time and you’re on either end of the spectrum… there are entrepreneurs and businesses that are doing the most right now and trying to capture their audiences. They are marketing their products and services and getting sales to their businesses.

They either have an essential service or product that people need or they have discovered something new arising from the pandemic and they have decided to capitalize on it. Face masks and virtual services are a hot commodity right now.

On the other end of the spectrum, you have those businesses who are either confused, cautious or simply content with closing down their operations until things settle down. They see this as a time to refocus and attend to other priorities that are not entirely related to their business.

Where do you find yourself on this spectrum?

So what am I doing at this time?

You know, for me, I have had to stop my...

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