While the current economic expansion is the longest in our nation’s history, there’s been much talk of a recession in the near future and warning signs are already appearing. 

Historically, a recession occurs about 14 months after an inversion, which occurred on March 22, 2019. Slowdowns in housing starts and market segments have also begun; material cost increases have also continued to rise.

Higher wages coupled with a shortage of skilled labor only complicates workforce issues. All of this along with decreases in interest rates are indicators that an economic downturn may be on the horizon.

Since recessions are a normal event in our economy, being prepared for the next one should be a top priority. A great deal of time and effort has been invested in building your company, so be proactive in protecting it during a recession.