How small business can prepare for economic downturn

31 October 2019

A positive mindset, a keen eye on cash flow and a willingness to diversify are the keys to managing economic downturn.

The official cash rate is at an historic low, and new warnings have been raised about Australia’s economic prospects over the next twelve months following a weaker than expected 1.4 per cent expansion in GDP for the year to June. So there’s no shortage of questions swirling about where the economy is headed. 

Professor Martie-Louise Verreynne, deputy head of the University of Queensland Business School, offers her expert opinion reflecting on how small businesses can prepare for an economic downturn for Smart Company.

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