Preparing for a Possible Recession
Keeping a close eye on cash flow is critical to navigating economic uncertainty
Whether the country falls into a recession next year or not, forecasters expect 2023 to be a challenge—which is all the more reason to prepare for a recession. That way, “you’ll have a game plan if it comes to fruition,” says Dupuy, who expects a continuation of declining growth for 2023. “And if it doesn’t come, great!”
According to a recent survey by the Conference Board in collaboration with The Business Council, four out of five CEOs are preparing for a brief, shallow recession during the next 12 to 18 months. During that time, industry experts agree, cash flow will be king.