A Recession is on the Way: Is your Business Prepared?
Interested in Government Contracting?
October 25, 2022, Clearwater, FL
Running rampant in the news this week, there is increasing agreement among analysts that a recession will hit the U.S. economy in 2023, resulting in significant stock market falls and widespread unemployment throughout the country. According to an article by the Washington Post, inflation accelerated to levels not seen in more than 40 years. This is cause for concern for every business in the nation.
The average estimate of economists for the likelihood of a recession in the coming year is 63%, up from 49% in the July survey. Since July 2020, during the most recent brief but severe recession, this is the first time the survey has shown that the likelihood is more than 50%.
Their predictions for 2023 are getting gloomier by the second. Since the last quarterly poll, when they projected modest growth, economists have revised their forecasts downward to predict that the gross domestic product would decline in the first two quarters of the year.
Without adequate planning, recessions can permanently harm your capacity to manage your finances, jobs, and businesses. Many financial advisors suggest starting immediately if you haven’t already!
While almost every industry will be dramatically affected if a recession does take place, there is one entity that never suffers–the United States Government.
Spending over $6.6 trillion dollars a year, even if there is a recession the likes of the Great Depression, the U.S. Government will continue to spend money. Making its Federal Acquisition program, the GSA Schedule, something you should be looking into to ensure your business survives.
The average small business with a GSA Schedule contract brings in approximately $880K annually in federal sales. So, for companies wanting a consistent revenue stream, a GSA Contract can and will save you in your time of need.
At GSE, we specialize in getting clients on the GSA Schedule and connecting them to contracts worth hundreds of thousands of dollars. With the help of our marketing database, we’ll point you in the direction of contracts waiting to be filled that are relevant to your products or services.
Give us a call today at (866) 806-6737 for a FREE consultation with a GSA Schedule Specialist!