Recession Relief? Don't expect it this year

Posted by: Diane Brady on February 2, 2009

I did an informal survey of attendees at Davos to ask when they thought the economy would begin to pick up. Of the roughly four dozen people I asked, about one-third said they thought things might start to look better towards the end of 2009. The majority said they didn’t expect any growth in their industries or countries until 2010. And one, a European, said he’s putting off any hope of good news until 2011.

Reader Comments

Wally Bock

February 2, 2009 4:24 PM

If this recession were like prior recessions in the US, there wouldn't be any upturn until late 2009 at the earliest. When you factor in the credit crisis as a multiplier of difficulty, it seems that we're looking for an upturn way beyond that.

Chris Palioli

February 4, 2009 3:23 AM

I guess I'm an optimist because I believe that the economy will bounce back by the end of '09 and beginning of 2010. Small business owners in particularly, can no longer around and wait for "things to look better". We have to find ways to make money and save money, if we expect our businesses to thrive during these tough economic times. Our company has already started reducing costs. No more perks like extra bonuses and we even reduced the amount of times we plan to travel on business trips. We are conducting meetings and training through video conferencing and phone conferencing through http://www.24conference.com which saves us money and time.

Dan Abrams

February 21, 2009 12:01 PM

As business owners, we shouldn’t expect recession relief. That means you have to think of creative ways to increase your revenue like never before. That’s what we did; now we offer our customers incentives such as free gifts and free certificates. I found a site where a furniture store owner was able to sell over $18,000 worth of furniture just by offering his customers food and gas certificates. You can read more info at; http://upyourprofits.net. Due to the bad economy, several businesses are forced to pull up their own boot straps. We shouldn’t depend on the government to bail us out.

Post a comment

 

About

How can you manage smarter? Bloomberg Businessweek contributors synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news.

BW Mall - Sponsored Links

Buy a link now!