Some local business owners feel a recession coming on and plan to cut budget items like hiring new staff and their advertising. If your business feels a recession is ahead, Karla Jo Helms of Joto PR Disruptors says economize carefully. "Cutting your advertising budget affects the growth of a company. In every recession the U.S. has seen, companies that cut their advertising came back smaller. Their competition that didn't cut their advertising came back an average of 35% higher than when the recession started."
She says advertising brings in customers that bring in profits. "You will find the money to advertise. Get those leads coming in. Then you will find the money and economize where you see fit." Helms says waiting to hire new staff is a good idea - but keep your advertising that will bring in more business. "Then you can then afford to hire people to handle all of the work coming in."
She says you'll place yourself ahead of your competitors.