RECESSION 2020
Those of you who have been in business as long as me can remember the GFC and the effect it had on businesses. Many businesses did not survive and those that did took up to four years to regain the lost ground.
Since then we have experienced the longest period of sustained growth in more than a generation……until now.
For some this latest recession will be deja vu. For many however, it will be uncharted territory. Hundreds of construction-related companies have been established since the GFC and have enjoyed relatively easy pickings. For these owners, the need to quickly and radically pivot the business, to first survive and then make the most of the new economic environment, will be new and a bit scary.
That is why I have put together this Recession Guide for the Construction Industry in New Zealand, to help you better understand:
- the nature of a recession
- the psychological changes to consumer behaviour
- what the smart companies do to respond
- what to do first and what to do next
- how to actually identify and use the hidden opportunities
