How Startups and SMEs Can Prepare for the Looming Massive Recession

Most economists predict that we're staring at a global recession that will rival the Great Depression in its scope and severity. The economic fallout will be calamitous, and startups and small businesses will bear the brunt of the damage. The priority is and must be on preserving as much cash as possible, to gird for the extended losses that are all but certain to come. The trick lies in understanding the psychology of customers in a recession, says Iqbal Hussain, serial entrepreneur and business consultant.