Briefly Explain How a Small Business Can Do Crisis Planning

question 18

Essay

Briefly explain how a small business can do crisis planning.

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Definitions:

Government Borrowing

The process by which governments finance their expenditures by issuing debt instruments, such as bonds, to the public or borrowing from financial institutions.

Great Recession

A severe global economic downturn that began in 2007 and lasted until 2009, marked by significant declines in financial markets and economic activity worldwide.

Fiscal Policy Measures

Government actions involving taxation and spending to influence the economy.

Budget Deficits

A situation where a government's expenditures surpass its revenues within a specific time period, leading to borrowing or debt accumulation.