Source: Vanguard Asset Management
Whilst there is, quite rightly, a massive concern for the current predicament that businesses find themselves in, there is an opportunity that once through this downturn, there is a period of growth to take advantage of. While there are many ways this downturn can impact your business in the short-term, it is important to separate permanent damage, which will impact the long-term, from temporary damage which will quickly be forgotten.
Reading through the article about the four mistakes that investors make in a market downturn, what resonated with me was how this is so relevant to businesses as well. These mistakes are listed below, along with my take on each one to give businesses something to think about.