Have you ever wondered what the connection is between economic recession and business activity?

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But perhaps due to the advice from the salesperson, the business owner was influenced and made the purchase. (3) Pay more than you should Paying more is expensive or sometimes a situation can occur where a business owner hires more workers than they should. Maybe he only needs two workers, but for some reason, he hires 4. When all the workers are at the business, there is duplication of work. Expenses need to be managed as best as possible because they certainly have an impact on the company's profits. (9) Economic Conditions I believe we are all used to hearing the complaints of businessmen who blame the economic situation when the businesses they built start showing signs of failure.


Of course it has a very close relationship. Typically, in a downturn or sluggish afghanistan phone number resource economy, the following things will happen. profit-in-business (1) Sales will decline At this time, your customers will be taking steps to be frugal. In uncertain economic times, they will save money and only spend on essentials. As long as they can save money, customers will try to save and save money. (2) Competition will increase Then, there are also situations where when the economy is sluggish, several new businesses emerge that compete and have a negative impact on the business you run.


For example, if you run a restaurant business. When the economy is a bit sluggish, individuals emerge who start a part-time food business from home . These people are probably from among those who work in offices, and have started offering services to provide breakfast and lunch menus. Their real goal is only 1. Want to earn extra money 2. Helping colleagues get food at a more economical price Although the market focus of this new entrepreneur may be only a few people, it can cause existing restaurant businesses to lose customers. In an uncertain economic climate, this will undoubtedly make things worse.