7 tips for business in times of crisis | Warsaw Business Journal [02/2023]
Economists call them economic cycles for a reason. It’s all happened before, and economic booms are generally followed by years of economic slowdowns. But it is just as important to plan for the downs just as much as you plan for the ups. Karolina Klimek-Kaźmierczyk (attorney-at-law at BRILLAW) walks us through the 7 essentials of crisis planning that every entrepreneur should know.
So why are we talking louder now about the impact of a possible crisis, which has already been forecasted for the upcoming quarters of this year? Because economic problems tend to strongly impact those sectors of the economy that deal with manufacturing, services tend to do well – or relatively better. On the other hand, changes dictated by the current situation in the world (in particular in our part of Europe) and the remnants of the pandemic may also affect other sectors of the economy, including the service sector. This impact is likely to be felt by both service providers and service recipients. Entrepreneur, how can you help yourself? Let’s think about it together.