It’s official. On Monday The National Bureau of Economic Research declared what has been keeping us all up at night for the last few months. The U.S. economy is officially in a recession, and has been since December 2007. Employers nationwide have trimmed payrolls by 1.2 million jobs in the first 10 months of this year. On Friday, economists are predicting the government will report a loss of another 325,000 jobs for November. The current recession is one of the longest downturns since the Great Depression of the 1930's. However, there is no need to panic. This recession will not turn into a depression. Most experts predict a resurgence of the economy by the end of the second quarter in 2009. There may be a lot of gloom now, but experts don’t foresee any doom on the horizon.
Is your online business recession-proof? Like most of us, the answer is a resounding ‘No’. With that being said, you should ask yourself: “How can we avoid most of the pitfalls of the recession and keep our conversion rates and profits at a respectable margin?”