The Great Recession exemplifies what happens when fiscal crisis grips an economy. High unemployment, stagnant wages, inflation, lower investments and an overall slowdown of economic productivity. Fiscal crisis has the potential to wipe out small business that lack resources to pay fair wages and keep up with rising prices. Even major corporations feel the budget pressure.
While the U.S. economy seems to be on a slow but steady incline, many business leaders remain cautious that a crash similar to 2008’s could strike again. The effects of recession are long-term, and not every business has a foundation strong enough to weather the storm.
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