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  • November 10, 2022
  • Article
  • Harvard Business Review Digital Articles

5 Ways Startups Can Prepare for a Recession

By: Lou Shipley
  • Format:Electronic
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Abstract

Startups face unique challenges during economic downturns. They typically aren’t yet profitable and so are reliant on outside funding—and therefore are especially exposed when macroeconomic conditions change. To make it through a recession, startup CEOs should hit the road and talk to customers. They should also focus on preserving their company culture and retaining top employees. And they need to do whatever they can to extend their runways—including taking on a line of credit.

Keywords

Entrepreneurship; Organizational Culture; Sales; Customer Focus and Relationships; Decisions; Inflation and Deflation; Financial Crisis; Employee Relationship Management; Business Startups; Credit

Citation

Shipley, Lou. "5 Ways Startups Can Prepare for a Recession." Harvard Business Review Digital Articles (November 10, 2022).

About The Author

N. Louis Shipley

Entrepreneurial Management
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