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The cold winds of recession are whipping up across the globe with some analysts estimating the risk of recession in Australia over the next 12 months at 50%. Without a doubt, many SMEs are likely wondering how best to protect themselves. As consumer pressure continues to increase, there’s a possibility that businesses will start cost-cutting and scaling back their operations pre-emptively. But this approach risks creating longer-term problems for those businesses. History shows us that during tough times, it’s critical to balance both protecting the business with keeping an eye open for meaningful opportunities.
Inflation is a complex concept, not experienced equally by different sectors or consumer groups.
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