In the wake of economic uncertainties, a staggering 93% of small businesses in the USA express concerns about an impending recession. With 38% already witnessing a drop in customer numbers, the need for proactive measures is more urgent than ever. Our presentation delves into actionable strategies that can bolster SMBs during these trying times. Join us as we explore robust solutions and initiatives designed to support and stabilize the backbone of our economy: our small and medium-sized enterprises.

1. LET’S SAVE SMALL
AND MEDIUM-SIZED
BUSINESSES RIDING
THE RECESSION IN 2023
93% of small firms in the USA are concerned
about the possibility of the recession
38% of SMBs have noticed a decrease
in customer numbers

2. SMBs may lack employees
with the necessary skills
74% of CEOs are concerned about a lack of availability
of the right skills in times of downturn.
Falling behind in technological excellence hardens the
business’s future-proof and efficiency maximization.
Scaling your internal resources to meet changing
demands takes time and money, which is not a quick-fix
work practice.

3. Low digital maturity can
cause a drop in income
70% of leaders acknowledge the pressing need to
expedite the transition of their investments toward
digital prospects.
Companies with a lower level were inferior to those
more technically mature that reached a 45% growth
during the last recession.

4. Traditional revenue
streams can let down
Your business model will need innovation to identify
new markets and sources of growth.
It’s not all bad
Many of surveyed 5,000 U.S. SMBs expressed a sense
of optimism regarding their outlook for 2023 and their
capacity to weather an economic downturn.

5. Care about your staff
For SMBs, their people are worth their weight in gold.
Half of the executives believe that staff shortages are a
bigger problem for business growth than the economic
crisis.
Find and hire the best talents
During a recession, you may often face reduced
competition for top talent as many businesses cut back
on hiring or even lay off employees.

6. Optimize internal resources
SMBs successfully practice outsourcing non-core
business processes that someone has to do anyway.
Financial diversification
Offer new products or services, enter new markets, or
partner with other companies to create new revenue
streams.
Embrace automation
Automation could increase productivity by up to 1.4%
annually, which could be significant for SMBs.

7. Conclusion
Companies that nurture flexibility, awareness, and
resiliency are more likely to navigate uncertainty more
successfully.
Focus on innovation is a winning strategy for SMBs,
which can help differentiate themselves from
competitors by investing in research and development,
exploring new business models, and leveraging
technology.

8. Learn more about how to get through
the recession in the most painless way
by the link in the post