APPRAISAL BUZZ FALL 2020 | 17
BUSINESS HOW TO
HOW TO:
RECESSION PROOF
YOUR BUSINESS
BY BLAINE FEYEN
If you haven’t heard the word
recession by now, you haven’t
been listening. It’s being talked
about on every news channel
and written about in every
newspaper. It’s the boogeyman
coming to get you! Or is it?
This word is often used as a big
stick that scares most people
because they don’t fully
understand what it means. An
economic recession simply
means that we’ve had two
consecutive quarters of decline
in GDP (gross domestic
product). It’s a receding of
economic growth and is a
normal part of every economic
cycle. While it is not something
to fear, it is certainly something
to be aware of and on top of in
your appraisal business if you
want to survive and thrive.