Are We in a Recession or Not?
You’ve no doubt pondered it, your customers and employees are talking about it and the news media wants to be sure you know they called it first. But having advised dozens of businesses through both market downturns and expansions, we can confirm with all authority…it depends. In 2008, much of our region was immune to the hardships seen in the finance and real estate industries. Most of our manufacturing clients enjoyed a rather robust period of growth (driven in large part by the national oil/gas drilling and pipeline boom). In today’s economy, we see similarities. Some industries may experience a slowdown but many others still cannot keep up with demand. Our advice to clients: Don’t make your plans based on the headlines. Make your plans by looking at your customers, your customers’ markets, your customers’ supply chain and your supply chain. If you produce anything, there likely are opportunities at hand.