CLA’s economic advice for 2023: Ignore the Headlines
Our friends at Clifton Larson Allen have sent out a short white paper entitled “2023 Economic Outlook: Ignore the Headlines”. You can access the paper here.
The white paper lists three key insights for businesses to consider:
- Will there be a recession or not?
- There will be both Tailwind and Headwind economic indicators
- There will be opportunity to benefit from an economic recovery.
For businesses, the Clifton Larson Allen experts suggest:
- Continue to manage your business as you have
- Focus on technology to drive efficiencies and maintain margins. Also, consider outsourcing to save on labor
- Maintain sufficient liquidity in case of a “cash crunch” brought on by tightening credit conditions
The paper is a really good short read and also lists the possible headwinds and tailwinds that we may see in the economic environment. It also goes into giving some advice for individual investors.
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Posted in Business