You may think your little local business is too small or unimportant to be affected by the global economy, but unfortunately there is nowhere that is sheltered from the fallout - good or bad. It doesn't matter whether it's an oil leak in Louisiana, or a torpedo off Korea, or civil service perks in Greece, the consequences for the global economy will get passed on down to you and your business, wherever you are. It may be interest rates, tax increases, program cuts, exchange rates or simply changes to your operating costs and demand for your products and services, but you will see a connection.
So what? Well, obviously you don't have much control over events or any more ability than the plethora of erroneous experts to predict the event. All you can do is BE PREPARED. That means plan and manage with a large margin for error. We live in volatile times and can only expect the unexpected; on top of the potential for the worst case scenarios.
I don't mean to be too pessimistic, it is also possible that things could turn out much better than expected. Be prepared for that too.
Nobody said it was getting easier.
