When a storm hits your business you have to focus on your core responsibilities of keeping the company afloat, looking after your staff and contacting your customers. Under normal circumstances, a lot of these functions occur automatically through the processes and responsibilities you have built up over the months and years. But in a crisis situation, where perhaps most of your staff are furloughed, and the remainder are working remotely or at distance, the normal patterns and pathways are broken.
If you’re not feeling the pinch, or indeed the punch, of a sudden economic downturn, then you should probably count your business as one of the fortunate ones, any event industry suppliers that aren’t feeling it yet have probably already hit the buffers and gone out of business.
In 2008 the overheated and undercapitalised US housing market collapsed, taking a leading investment bank with it, and the crisis toppled over into the world economy. World governments, fearing a complete collapse of the financial system, pumped hundreds of billions of pounds into the banks to keep them afloat, and prevent a spiral into deflation, unemployment and a decline in global consumption.