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Managing Through Turbulent Times: The 7 rules of crisis management by Anthony Holmes

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6. The effect of turbulent times

Generally speaking, in a recession in which the UK economy contracts by up to 3%, around 3% of businesses collapse. Most, but not all, of these are SMEs.

Only c.15% of businesses pass through the period of general turbulence unscathed and few of these prosper.

That leaves around 80% of businesses that encounter some negative impact.

Some of these companies will be damaged but emerge able to take advantage of the resumption of growth, others will emerge damaged and function as the corporate disabled for many years following the turbulent phase until they are acquired by a stronger competitor or fail as a result of their inability to withstand a further shock.

In summary these are the broad categories:

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