Coping with Recession
/Interviewed on the NZI Business morning TV programme on Monday, I was asked for my views about how business people can cope with the downturn in the New Zealand economy. Putting recessions into context, the economy is by nature cyclic: after periods of growth, there is a necessary correction. Knowing this in theory doesn’t lessen the impact of suddenly having fewer orders, having to make people redundant, perhaps even having to wind up the business, and what makes the current global change especially demanding is that it is happening very rapidly indeed. In the space of a week during a recent visit to the UK, we saw several thousand jobs go in the construction industry alone.
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