When Global Recession Happen – Have you ever heard that by maintaining giant companies, the national economy can be saved during a crisis? Sadly, it’s true. One of the e-commerce companies in Indonesia, already cut their employees by 3%, equal to 187 of 6.232 employees. This is just one example, and overall, around 4.8 million Indonesian people still unemployed. If save those giant companies, it will cut a lot of unemployed people and they can have a better life. This is the fact.

The rich become more rich, the poor become more poor in the crisis. 

I know, we just enjoy the recovery from the pandemic, but as a start up, it’s really unsettling if we don’t prepare anything. If you live in a resilient country and think that you don’t need to prepare anything, I will say, please be really concerned about what will happen next because from this global recession, if it really happens, it will need a lot of time to recover. 

These are our way preparing to face global recession 2023

Debt Settlement

Make sure you don’t have consumption debt. Even if your debt is related to something that will be useful for you in the future, try not to incur further debt for the next year. Imagine if next year, the economy is really dark, you still have debt, it’s hard to get income, so you decide to take on more debt. Next year, you will have 2 times what you owe now. What would you do? This will lead us to the next step we use to prevent that darkness.

Saving and making everything liquid

Related to the previous step, we prepare our assets 6 times the expenses per month. In this step, 2 things you need to understand.

First, to prevent getting more debt, we need to calculate all of our expenses and from now, press the expenses, put it in current assets, and with all of the bullets you have, at least you know you will survive for the next 6 months.

Second, we still have current assets and fixed assets, but we don’t put assets on any share. Why? because there are many conditions that haven’t been fulfilled yet. Another thing  is it’s like catching the falling knife if you take it individually. You don’t know if it will hurt you or not. It’s better to let the knife fall, then take it when you know exactly that it’s already safe.

See for opportunity

As you can see from the pandemic, there are some companies that collapsed, but on the other hand, there are companies which actually skyrocketed. See that opportunity as fast as possible. Your question might be “what company do you think will still be thriving in this global recession time?” You can see many startups with relevant ideas to recover from the pandemic, it might be the way out as well for this global recession. It’s nice to put your assets in investing in those startups and help them to recover from the recession. 

The thing is, we still don’t even know if the recession will happen in the next year. But, as the saying goes. Prepare an umbrella before it rains. To be honest we want to tell your something related to viability and happiness. Don’t be so stressed over this, enjoy the time you have with your family, friends, or even co-workers, and make sure to make decisions with a cool head. To get more popular information, check others article in here.