A merchant account is a bank account that permits your company to accept and process debit and credit card payments from clients. Although we are still distant from becoming a truly cashless society, almost every customer relies on a debit or credit card to make most of their regular purchases. Card acceptance leads to enhanced sales and prevents losses from customers who usually carry little or no cash.

A merchant account requires a company to partner with a merchant-acquiring bank that promotes every communication in an online payment transaction. Merchant account relations are significant for online businesses and are a crucial aspect of business management for most merchants. They have numerous options when selecting a merchant account service provider.

If a business opts for cash transactions instead of online deposits, it would not necessarily need a merchant account and could get just the primary deposit account.

When a client pays through a credit card, the funds are primarily deposited in the merchant account and eventually transferred to the business bank account. Here are seven steps to obtaining a merchant account.

Get Your Business License 

To get a merchant account, you’ll require a business license. Depending on the industry of your business, you might need to obtain multiple of them. With that said, your state anticipates what license you require, so you’ll need to value the specifications you fall into.

When you register for a merchant account, the insurer will inspect many documents to make their decisions. Your business registration by the state will authenticate your application and lead to quicker approval.

Obtain a Business Bank Account 

After getting registered, you’ll need to obtain a business bank account. Usually, this is a checking account associated with businesses with multiple owners and is arranged through a financially stable bank. The merchant service account will utilize your business bank accounts for online cash transactions. For this purpose, your customer’s purchases will go through this account.

Authenticate Your Business Structure 

When starting, it is a significant step for new business ventures. How can you understand your business’s requirements without knowing the business structure? The structure will bring you closer to a merchant account that can tackle your business correctly.

Add Refund Policies and Terms of Conditions

By utilizing online tools, develop compliant terms and conditions and a refund policies section to protect your site as the customers use the products and services. Including these facile policies will precede your merchant account approval and reduce possible refunds.

Ensure Your PCI Compliance

When your company decides to start accepting credit card payments, it’s time to consider PCI. Although your business doesn’t need to be PCI compliant before obtaining the merchant service account, starting sooner rather than later would be feasible. The following ways will enhance the security of your customer’s information.

• Make sure that sensitive data vanishes properly
• Enable versatile policies on passwords

Complete the Online Application

The keystone to getting a merchant account is completing the application. You must present the application and the required documents to the merchant service provider to get approved. Follow up with the provider you’re applying to support your venture and the desired features.

Review the Fees 

Merchant accounts contain a variety of costs that depend on the method used to process them. For instance, a credit card attendant might charge you additional fees for the card, so you must read the contract carefully to understand the purposes for the applicable fees. These costs might be structured in several ways, so ensure that you truly understand what you’re paying for.

Merchant account providers charge monthly fees as well, and it is paid to the merchant acquiring banks to cover specific virtual payment risks that might arise from a transaction and settle the transaction funds.i. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The social responsibilities of multinational companies are an essential component across the corporate sector. The aim is to accomplish all business goals while contributing to the world’s well-being.

There is a concept in society that business is about making a profit and ignoring society, the environment, and even fundamental human rights. The targeted audience thinks multinational companies devalue society and don’t fulfill social responsibilities.

Contrary to popular belief, entrepreneurs strive hard to eradicate such myths by creating a positive image by fulfilling their social responsibilities. Socially responsible multinational companies are now inclined more towards activities and interests for society’s welfare.

Various enterprises, including small-scale to Fortune 500 companies, create highly robust programs and plans to balance profitability and social responsibility.

In this blog, you will learn about the social responsibilities of multinational corporations.

Understanding Multinational Company’s Social Responsibility

The social responsibility of multinational corporations refers to improving society’s condition while ensuring business growth. Experienced entrepreneurs say that a company’s social duty is to consider and take valuable measures to fix societal problems. The agency’s narrow economic, legitimate, and technical needs aren’t part of that phenomenon.

Multinational corporations that want to serve society must track ongoing activities, policies, and performance measures to help bloom the society. It will be the best chance for multinational companies to contribute to society.

It would help if you created an effective corporate social responsibility model to implement such qualities. Successful entrepreneurs suggest dividing this social duties plan into four categories: legal, economic, ethical, and discretionary. Choosing a suitable category is up to you. For instance, you can select economic responsibility as a company’s foundation and primary function.

If you are focusing on discretionary, consider it as the top level. It should include a few voluntary responsibilities. Remember, these categories shouldn’t be exclusive. There is no need to achieve or implement each of these individually. You can practice these social responsibilities to advance your brand’s image and reputation in the market. Take every possible measure that satisfies a society’s needs.

Significant Social Responsibilities of Multinational Companies

It would be best to build your targeted audience’s trust to run a successful campaign. It helps you build a timeless reputation in the market. As a business owner, you need to fulfill your responsibility of addressing society’s expectations. It helps eradicate unnecessary myths related to multinational corporate social responsibilities.

Businesses move close to stability when multinational companies have a solid societal reputation. Business reputation is essential for agencies and consumers to determine the business’s authenticity and trustworthiness, which can quickly fulfill all expectations.

Social responsibility is the best way for multinational companies to create a powerful image before the client.

You can build your company’s reputation through seven dimensions of social responsibilities. Here, I am discussing major ones. Let’s read!

Citizenship

It refers to the company’s presence as a perfect societal corporate setting. These companies support a society’s welfare actions and secure the environment. As a corporate citizen, you can contribute to the projects inclined towards a society’s prosperity.

Companies can prove their dedication to society’s prosperity by eradicating societal issues and making drastic changes. Bringing revolution in information technology, education, healthcare, and food supply are also some ways you can fulfill your corporate social responsibilities. Companies can also help address poverty, corruption, water shortages, terrorism, natural disasters, and much more.

For a company to succeed today, it must take its social responsibility seriously and provide additional funding for society’s prosperity and welfare.

Governance

If you are running a highly dedicated company where everyone gets equal rights and respect, it is also a social responsibility. As a multinational company owner, provide all facilities to your employees and make the working environment free and fair where your workers can work with complete dedication.

Try to keep business transactions transparent. Make ethical rules and maintain the decorum of the company. You may also introduce the concept of helping others by setting examples and carrying out workshops or different welfare activities. 

Workplace

The workplace is one of the affective dimensions of social responsibility. Different employees of unique backgrounds work together to make a business successful. They are highly dedicated and expect thankful gestures from the company owners.

The agency’s core duty should be to provide and satisfy all facilities to their workers and satisfy them. Take safety measures, establish a friendly and peaceful environment, and conduct different informative sessions for business operations.

As a multinational company, we discuss innovative technologies and ask for unique ideas to stand out in society as the best social corporate citizen. It will help create a powerful image in society and increase your company’s authenticity and reliability rate.

Conclusion

Social responsibility is about revolutionizing society by working for its welfare. Multinational companies should be responsible for providing different funds for the prosperity and welfare of society.

Most amateur entrepreneurs don’t focus on this aspect. As the world evolves, consumers choose to do business with multinational companies that improve society. Companies must prove to society that they care about the people and the environment. In this way, society starts moving towards prosperity, and corporations get a chance to verify their authenticity and trustworthiness.

To fulfill social responsibilities, you must provide funds, participate in society’s welfare campaigns, and provide a free, fair, and peaceful environment to society while maintaining your company’s operations.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Manufacturing cost is the sum of all collateral costs sustained during production. It is later added to the cost of the finished product with the direct raw material and labor expenses. Usually, manufacturing costs include inventory depreciation, salary and wages of laborers, and used electricity throughout the procedure.

According to GAAP (generally accepted accounting principles), manufacturing costs must be included in the final products and the price of the goods income statement.

Regardless of the size of your business, considering manufacturing cost is of utmost importance. In smaller businesses having lower cash reserves, constant monitoring of the production expenses brings profitability.

If the price per unit of your major commodities can be reduced, your profits will rise. If your profitability increases, you might be obliged to break off certain product lines or reduce production until the costs stabilize. Learning how to determine the cost per unit will be helpful for wise decision-making and bringing prosperity.

Types of Manufacturing Cost 

Total manufacturing cost refers to the total expenditures, including finished product resources. Determining total manufacturing costs requires a righteous analysis of your company’s diversified operations to identify their contribution to crafting procedures and associated costs.

The three significant components of manufacturing costs include direct materials, labor, and manufacturing overhead. Let’s evaluate each one of them briefly.

Direct materials:

Direct material includes inventory and equipment which are used in the production. Revise the cost of raw materials purchased for a particular project, add this amount to the cost of beginning inventory, and then deduct the cost of ending inventory. This activity will grant you the direct material costs sustained during the procedure.

Direct labor: 

Direct labor expense contains more than just wages and refers to the workers on the front line. Calculate the salaries and wages of laborers who worked for a particular project in your company, including any payroll taxes, to determine direct labor.

Manufacturing overhead: 

Manufacturing overhead is quite challenging to assign to every single produced unit. Consolidate the cost of all the inventories and equipment utilized during the process, including the rent, mortgages, repair and maintenance expenditure, and machinery depreciation.

Calculating Manufacturing Cost Per Unit 

To calculate the total manufacturing cost, you must primarily determine the total production cost of all the finished products. Secondly, divide the estimated value by the total number of items. After this process, you’ll obtain the total manufacturing cost of the products. Acknowledging the total manufacturing cost is mandatory, and you can also compare it with the gross revenue while anticipating profitability.

Lastly, you’ll anticipate the total cost of manufacturing overhead, which usually considers indirect labor, raw materials, taxes, insurance, and depreciation of assets. Total manufacturing cost is a pivotal figure when analyzing expenditures during the production process.

To calculate the total manufacturing cost per unit, you’ll have to divide the estimated costs by the total number of units created during the production. For instance, if your company generated 2 million units in 2018 and sustained total production costs of $10 million in the same year, the total manufacturing per unit will be $5.

However, you must set a terminable unit to calculate the total manufacturing cost. Systematically, it is a fiscal quarter. The formula utilized for determining the price is,

Per unit cost= Total production cost/ total number of items produced. 

Utilizing the formula provides an easy acknowledgment, and you can tag your product, also known as the retail price. Comparing the total manufacturing cost and gross revenue lets you examine your company’s profitability effortlessly.

Significance of Total Manufacturing Cost Per Unit 

The calculation of total manufacturing cost per unit includes evaluated accounting rules for raw materials, labor, and manufacturing overhead costs. It requires a practical analysis of a company’s departments to represent their contributions to the production procedures and costs.

Reviewing the company’s financial records, the business owner can analyze the production cost or COGM as a proportion of sales generated during an accounting period. With this determination, the management can overlook cost-cutting measures to enhance profitability.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Your credit score is used to determine more than just if you qualify for a loan. It can determine insurance rates and premiums, your ability to rent a home or apartment, whether you will have down payments to get cable, internet, or phone service, and even if a company will hire you.

Because your credit score can affect many aspects of your life, you must understand how to obtain and maintain a strong credit score. Here are six ways you can improve your credit score.

Pay Bills on Time or Early

Paying your bills on time should be a given for your financial status, but you would be surprised how many don’t realize that some of your payments hit your credit every time they are late. While it is not suggested that you be late on any bill payments, sometimes life is a challenge, and you must shuffle some things around to make ends meet. Make sure you pay those bills affecting your credit on time or before they are late. Work with the creditor on a payment plan that won’t damage your credit.

Experian Boost

Experian, one of the credit bureaus, has begun a program to help anyone who wants to boost their credit. One of the three major credit reporting entities did something brilliant. They allow bills that are typically not considered on your credit that you likely pay on time every month to be considered in your credit score.

You can add your utility and cell phone bills into the mix of payments that will boost your credit if paid on time and see a jump in your credit score by about forty points in 90 days! Hopefully, the other two entities will follow suit as this could change the face of credit if you pay these bills on time but have some credit issues that lowered your score.

Do Not Delay Paying Off Debts

Debt should be the most important concern you have financially outside of necessities. You make a substantial financial mistake if you spend on luxuries while carrying debt. Start with making the most significant payments towards debts with the highest interest rates.

If you have any revolving credit, such as a credit card, do not use it until all debt is paid down, or you will quickly be back in the same boat. You need to stop this debt leak. Do not close unused credit cards, as this adversely affects your credit. Keep them open and pay any fees they have, but don’t spend on them.

Streamline Lines of Credit

Even if you pay every credit card and loan on time, it will still lower your credit score if you have many lines of credit. A potential creditor will not want to see that if you fall upon hard times, their bill will be one among many you will struggle to pay. Paying them on time will help your score, but not enough to overcome the hit your credit took by having too many credit lines.

Applying for Credit

Just because that department store will give you a 20% discount on your current purchase for just applying for their in-store credit card doesn’t mean you should do it. Every single time there is a hard inquiry on your credit score, it lowers it. Simply put, stop doing it. Hit sales or go second-hand shopping to get great deals; don’t apply for every store you shop in’s line of credit.

Dispute All Adverse Items

Many credit checking apps and websites make soft inquiries on your credit score, which doesn’t adversely affect your score even if you check it every day, multiple times a day. You need to check your scores as regularly as possible because if you catch and dispute them immediately, they will be removed if there are any inaccuracies.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Financial management is necessary when owning and operating a small business. Many small business owners make the mistake of using their personal bank accounts to operate the business. You must establish a business bank account before you start your business.

Though one good bank can be enough for a small business, many financial experts recommend working with two banks. Remember that the bank is a service provider; therefore, you should compare all your service needs and use more than one bank if necessary to fulfill those needs.

While having one bank for your business can be enough, not having all your money or transactions at one banking institution can benefit your business in the long term. In some cases, having different accounts for certain transactions would even be recommended.

Having a company account and separating your account from the professional account, whether you are self-employed or have a small business, is essential. The accounts for companies or freelancers have several features as compared to those offered on personal accounts.

You must research or seek a financial expert’s advice when choosing the bank you utilize for your business accounts. There are many factors to consider when making such an important financial decision. Here are eight factors to consider when choosing your business banking institution.

Commissions and Fees

Although commissions and fees are usually charged for specific expenses, you must look for a bank where the commissions and fees are minimal or non-existent. Whether the banking institution charges for withdrawals, transfers, deposits, or minimum/maximum balances, you should consider whether.

Commissions and fees can add up quickly, making banking at certain institutions expensive. Most small or freelance businesses operate on a tight budget and need to cut costs wherever possible, including banking transactions.

Online Banking

Online banking usually has fewer expenses than traditional banking. Almost all large banks have a subsidiary that only works online. Be it an online or traditional bank, carrying out all kinds of operations over the internet is necessary to save time and from the same mobile or computer to control all the operations related to the business.

Your bank must have a good, simple, and secure web application. Carrying out operations is not only about making transfers and checking balances. There are other transactions done through your business banking institution. For example, you or your accountant can receive alerts that inform you of specific transactions, such as automatic deposits or payments.

Accessibility

Accessibility when it comes to business banking can refer to online transactions. However, it can also refer to bank locations in relationship to your business and ATM availability. Banking is such an essential aspect of the financial management of your business that you must consider accessibility when choosing your business banking institution.

Financial Advisor

If you can’t hire a full-time financial advisor or accountant, you may need access to one through your banking institution. Many financial institutions have financial advisors available to their customers.

These advisors can help you choose what accounts you need, manage the accounts, and make investments. They can also recommend other financial products and services to help you manage your business finances.

Interest Rates

It would help if you considered many factors when choosing your bank. Interest rates should be considered when selecting a bank. When it comes to business loans, you will want to choose a bank that offers lower interest rates on their loans and other forms of credit. If you will use your bank to grow revenue, you also want to consider how much interest the bank offers on their accounts.

Room to Grow

When considering a bank for your small business, you have to think big. While your business may be small now, most business owners want to grow. In the digital age, businesses have been known to explode overnight. It would help to choose a bank that will give you room to grow.

Some banks have a maximum balance or deposit; therefore, they may not suit your growing business. Use your business plan financial projections to understand your financial potential and apply that information to your banking decisions.

Customer Service

When running a business and banking, chances are you will need customer service at some point. It would help if you chose a bank that has excellent customer service. You need to be assured your issues and banking needs are handled by professionals who understand your needs.

Products and Services

Businesses must assess the products banks offer and the price of those products. You want to look for a bank that offers business banking services that meet your needs. These could include commission-free transfers abroad, travel assistance, account overdrafts, promissory notes, factoring, advances, insurance, and point-of-sale terminals (POS). For example, a retirement plan is a good investment if you are self-employed. Not all banks offer all products.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Secure Your Small Business Against Recession Challenges

Small business recession security requires a comprehensive approach combining cash flow management, customer retention strategies, and operational resilience to weather economic downturns successfully. During economic uncertainty, businesses face increased pressure from reduced consumer spending, tighter credit markets, and rising operational costs that threaten their survival.

I’ve spent over 20 years as CEO of Complete Controller, working with businesses across every sector imaginable, witnessing firsthand how economic cycles separate thriving companies from those that barely survive. The statistics paint a sobering picture: according to the Small Business Administration, only 67.9% of new businesses survive their first two years, and this drops dramatically to just 33.8% surviving a full decade[1]. This guide provides battle-tested strategies that transform your business into a recession-resistant powerhouse, capable of capturing market share while competitors struggle to stay afloat.

What does small business recession security mean?

• Small business recession security encompasses financial resilience, operational flexibility, and strategic planning to maintain stability during economic downturns
• It involves building cash reserves equal to 3-6 months of operating expenses before recession hits
• Proactive planning helps businesses maintain customer relationships when competitors struggle
• Recession-secure businesses often emerge with increased market share and stronger positions
• The foundation includes emergency funds, flexible business models, and customer retention

Financial Fortress: Building Unshakeable Cash Flow and Reserves

The cornerstone of recession-proof small business operations lies in establishing robust financial foundations that withstand economic shocks. Cash flow management becomes your critical lifeline when revenue streams face pressure and expenses remain relatively fixed.

A shocking 45% of U.S. small business owners regularly skip their own paychecks due to cash flow problems, while 22% struggle to pay basic bills[7]. Even more concerning, over 90% of small business revenue gets eaten up by operating costs, leaving very little cushion for emergencies. This razor-thin margin explains why small businesses with fewer than 50 employees experienced job losses of 10.4% during the 2007-2009 recession, significantly higher than the 7.5% job losses at larger businesses[2].

Emergency fund architecture for maximum protection

Creating comprehensive emergency funds requires calculating beyond basic overhead costs. Smart business owners factor in potential revenue declines, increased collection periods, and emergency operational costs that typically emerge during downturns. A JPMorgan Chase study revealed that half of small businesses have only 27 days of cash reserves – far below the recommended 3-6 months[6].

Your funding strategy should include:

• Automated transfers from operational accounts
• Reinvestment of profits during strong periods
• Strategic use of business windfalls like tax refunds
• Separate emergency accounts to prevent temptation
• Monthly contributions treated as non-negotiable expenses

Advanced cash flow forecasting and monitoring

Traditional cash flow tracking focuses on historical data, but recession planning for entrepreneurs demands forward-looking forecasting systems. Create detailed projections for best-case, worst-case, and most-likely scenarios across different time horizons.

Real-time monitoring systems enable identification of trends before they become critical issues. Track key performance indicators, including days sales outstanding, inventory turnover, and expense ratios. This data-driven approach allows strategic decisions about cost reduction measures, collection efforts, or accessing emergency reserves.

Customer Retention Mastery: Keeping Revenue Streams Flowing

Customer retention proves exponentially more valuable during recession periods when acquiring new customers requires significantly higher investment. Research shows that increasing retention rates costs 25 times less than acquiring new customers, particularly when economic conditions tighten marketing budgets[4].

Value-driven loyalty programs for recession resilience

During economic downturns, customers scrutinize every expense, making immediate value demonstration essential. Points-based programs and cashback systems become particularly attractive when customers appreciate every dollar saved.

Netflix successfully implemented multi-tiered approaches during economic challenges, introducing ad-supported lower-priced options alongside enhanced value for premium subscribers. This flexible reward structure addresses customers’ changing financial priorities through:

• Service pause options for temporary constraints
• Graduated pricing tiers for different budgets
• Rewards providing practical value like essential service discounts
• Immediate benefits rather than long-term accumulation

Proactive customer communication and support enhancement

Economic uncertainty creates customer anxiety, making proactive communication essential for retention. Monitor behavior patterns to identify early disengagement signs and implement intervention strategies accordingly.

Enhanced support involves expanding communication channels, offering flexible payment arrangements, and providing consistent reassurance messaging. Demonstrate understanding of financial pressures while reinforcing your value proposition. Use downturns as opportunities to strengthen relationships by showing genuine care beyond transactional interactions.

Operational Excellence: Streamlining for Maximum Efficiency

Small business resilience strategies depend on efficiency improvements that reduce costs without sacrificing quality or customer experience. Comprehensive operational audits identify inefficiencies, redundancies, and automation opportunities.

Technology-driven cost reduction and automation

Smart businesses leverage technology to reduce long-term costs while improving service delivery. Automation of invoicing, customer service responses, and inventory management significantly reduces labor costs while improving accuracy.

Cloud-based solutions provide particular value through:

• Reduced infrastructure costs
• Improved scalability options
• Remote work capabilities
• Lower office overhead requirements
• Better data security and backup

Digital transformation initiatives that seemed optional during prosperity become essential survival tools during downturns. Technology investments often pay for themselves through reduced operational costs and improved efficiency metrics.

Supply chain resilience and vendor management

Economic downturns affect entire supply chains, making vendor relationship management crucial. Proactively communicate with suppliers to understand their financial stability and develop contingency plans.

Strategic vendor management involves negotiating flexible payment terms, exploring volume discounts, and identifying alternative suppliers. Some businesses discover opportunities to renegotiate contracts with better terms as vendors prefer maintaining relationships over losing customers entirely.

Revenue Diversification: Creating Multiple Income Streams

Single-source revenue creates dangerous vulnerabilities when entire market segments contract simultaneously. Recession survival strategies require developing multiple income streams that respond differently to economic conditions.

Recession-resistant business model development

Dollar General provides an excellent recession strategy example. During economic downturns, the discount retailer actually benefits as customers seek value. In 2020, despite COVID-19 uncertainty, Dollar General reported its 30th consecutive year of comparable sales growth and planned 1,000 new stores[3][5].

Service-based businesses focused on essential needs typically maintain demand when discretionary spending decreases:

• Healthcare services
• Food and grocery
• Home maintenance and repair
• Vehicle repair and maintenance
• Technology support services

The most resilient models combine essential services with scalable delivery methods like online education, remote service options, or subscription-based elements providing predictable recurring revenue.

Strategic market expansion and partnerships

Recession periods create expansion opportunities as competitors retreat. Use downturns to enter new geographic markets, develop underserved segments, or launch complementary services leveraging existing capabilities.

Partnership opportunities during economic pressures include:

• Alliances with complementary service providers
• Referral arrangements with non-competing companies
• Joint ventures sharing costs and risks
• Collaborative service delivery for comprehensive solutions

Marketing Intelligence: Staying Visible When Others Go Dark

Research consistently shows businesses maintaining marketing presence during downturns often capture market share from competitors who reduce investments. Digital marketing provides measurable results, flexible spending, and targeted customer segment reach.

Content marketing addresses customers’ increased research behavior while establishing thought leadership. Create valuable resources helping customers navigate challenges while positioning yourself as a trusted advisor. Investment in content creation provides extended returns, making it more cost-effective than traditional advertising.

Consumer search behavior changes significantly during recessions. Optimize content for recession-related keywords reflecting budget-conscious mindsets. Local SEO becomes particularly important as consumers prefer nearby businesses reducing travel costs. Optimize Google My Business profiles, target location-specific keywords, and address local economic conditions.

Risk Management and Business Continuity Planning

Comprehensive risk management extends beyond financial planning to encompass operational disruptions and market volatility. Review insurance policies for adequate business interruption coverage, key person protection, and liability issues emerging during difficult periods.

Legal protection strategies include compliance with changing regulations, intellectual property protection, and proper employment practices during workforce adjustments. Review contracts to understand rights and obligations during economic stress periods.

Effective crisis communication maintains stakeholder confidence through transparent updates about business conditions. Develop communication protocols for employees, customers, suppliers, and investors providing appropriate information without creating unnecessary alarm.

Final Thoughts

Securing your small business against recession challenges requires comprehensive preparation extending far beyond simple cost-cutting measures. The businesses thriving during economic downturns implement integrated strategies for thriving in a recession through financial resilience, customer retention excellence, operational efficiency, revenue diversification, strategic marketing, and robust risk management.

Having guided countless businesses through multiple economic cycles, I’ve observed that preparation timing proves crucial. Businesses beginning recession-proofing during stable periods possess significant advantages. Proactive planning provides time to build reserves, strengthen relationships, optimize operations, and develop alternative revenue streams without immediate economic pressure.

Investment in recession security measures pays dividends regardless of whether severe downturns materialize. These strategies improve resilience, efficiency, and competitive positioning under any conditions. Smart owners view recession preparation as essential infrastructure, understanding that cycles inevitably occur and preparation determines outcomes. For expert guidance implementing these strategies, particularly in financial management and operational optimization, the team at Complete Controller specializes in helping businesses build financial resilience and navigate economic challenges successfully.

Frequently Asked Questions About Small Business Recession Security

How much should small businesses save in emergency funds for recession protection?

Small businesses should maintain three to six months of operating expenses in readily accessible accounts, with higher-risk industries potentially requiring up to nine months. Calculate your needs by including fixed costs, variable expenses at 75% capacity, debt service payments, and a 20% buffer for unexpected costs.

What are the most recession-proof industries for small businesses?

Healthcare services, essential home repairs, food and grocery, discount retail, debt collection services, and technology support consistently perform well during recessions. These industries benefit from addressing non-discretionary needs that consumers cannot postpone, regardless of economic conditions.

How can small businesses maintain cash flow during economic downturns?

Accelerate receivables through early payment discounts, negotiate extended payment terms with suppliers, implement stricter credit policies, reduce inventory levels, and consider alternative financing like invoice factoring. Focus on shortening your cash conversion cycle while maintaining strong customer relationships.

When should a small business start implementing recession-proofing strategies?

Begin recession preparations during stable economic periods when you have resources and flexibility to make strategic changes. Waiting until recession indicators appear limits options and increases implementation costs. Most experts recommend maintaining ongoing recession readiness regardless of current economic conditions.

What marketing strategies work best for small businesses during recessions?

Focus on digital marketing with measurable ROI, emphasize value propositions over features, increase content marketing efforts, optimize for local search, and maintain consistent brand presence. Shift messaging to address economic concerns while avoiding tone-deaf promotional campaigns that ignore customer financial pressures.

Sources

• Business Initiative. (2024). “Small Business Survival Rates & Failure Rate.” https://www.businessinitiative.org/statistics/small-businesses/survival-and-failure-rate/
• Federal Reserve Bank of New York. (2011). “Why Small Businesses Were Hit Harder.” Current Issues in Economics and Finance. https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci17-4.pdf
• Fortune. Wahba, Phil. (March 12, 2020). “Why Dollar General thinks coronavirus can help business.” https://fortune.com/2020/03/12/dollar-general-2020-coronavirus/
• Harvard Business Review. (2014). “The Value of Customer Experience, Quantified.” https://hbr.org/2014/10/the-value-of-customer-experience-quantified
• Indigo9 Digital. “Why Dollar Stores are Growing So Fast.” https://www.indigo9digital.com/blog/dollarstores
• Phoenix Strategy Group. (2024). “How to Build Emergency Funds for Business Continuity.” https://www.phoenixstrategy.group/blog/how-to-build-emergency-funds-for-business-continuity
• PYMNTS. (2025). “Cash Flow Crisis Deepens for SMBs Battling Economic Headwinds.” https://www.pymnts.com/smbs/2025/study-finds-cash-flow-crisis-deepening-for-small-businesses-amid-tariffs-and-consumer-pullback/
• Ready.gov. “Business Continuity Planning Suite.” https://www.ready.gov/business
• Small Business Administration. “Prepare for Emergencies.” https://www.sba.gov/business-guide/manage-your-business/prepare-emergency
• Complete Controller. “Liquidity: Key to SME Success.” https://www.completecontroller.com/liquidity-key-to-sme-success/
• Complete Controller. “5 Creative Investment Ideas to Add to Your Portfolio.” https://www.completecontroller.com/5-creative-investment-ideas-to-add-to-your-portfolio/
• Complete Controller. “Optimal Insurance Policy Guidelines.” https://www.completecontroller.com/optimal-insurance-policy-guidelines/

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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The ability to connect efficiently is one of the essential skills in organization and life overall. However, communication strategies have changed, and we have all the technical assets to assist us. There is still time once communication gaps occur with your employees.

Even with voice email, video chat, texting, and video mail, our messages do not always convey as intended. Why is that? It is often because a primary component in the changing and transmission of data is missing. Space may result from confusion, an improper assumption, or something in the information that got “lost in translation.”

Every developing business has its productivity problems to conflict with. And every worker in the company needs different information and skills to fill the spaces. However, you should identify the cause before rectifying meaningful changes.

You see, productivity spaces are only a symptom. It takes careful evaluation, analysis, and planning to solve performance issues and get your workers back on track. In one of our preceding blogs, we were committed to discussing overcoming communication spaces. Here are some steps to overcome and bridge communication gaps with your employees.

Give Them What They Need

A worker’s biggest challenge and difficulty is not having the data to do their job efficiently. It leads to productivity space acting as a block and affects their overall performance. Once you communicate with your workers, you must guarantee that the message is being sent as envisioned.

That is why you must be concerned about the audience you are sending messages to. There is no fact in conversation caterpillar to your workers who are already butterflies! There are multiple reasons for this knowledge shortage. If the online training program is not catering to their particular objective and needs, there is no fact learning, like they are not getting the targeted skills and knowledge they need. They will inform you on how to stay concerned.

Focus on Learning Programs

We know the most significant component in communication is the message. Recently, what if this vital component is taken across randomly? Every developing company should keep in mind to provide the workers with ample accessibility and tools. The company is responsible for giving workers internet training tools, like mobile-friendly microlearning.

Internet training resources that they can show on any device. We know this technological world, and most of us are always moving. E-learning authoring and responsive design tools could simplify this procedure by allowing you to build any interactive training session that adjusts to any screen, assisting your corporate learner in staying up with training on the internet that is not in the workplace. It is a significant part of keeping in mind.

Use Appropriate Volume

The volume or number of words utilized to deliver a message could significantly affect its reception. If you have an enormous impact on how well it is received. If you have ever tried conservation with a youngster unwilling to talk, you similarly received too few words and significantly less information.

Equally, you can recall a condition where anyone used too many words to express themselves that you had to try to understand the opinion or become missed and overwhelmed by their message. Balancing the number of information you send gives only enough information while not being wordy takes skill, but it could go a long way to preventing spaces.

Adapt, Evolve, and Grow

The globe is continuously changing. The only thing that is constantly changing. Meanwhile, your company is also changing quickly, but are you accepting the change correctly? Nowadays, there is no way to teach the 1950s to a group of 2000. It is significant to know what went down and what happened, but what remains now. It means the online training session has to increase and change to adapt.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Social media influencers can use the attention they garner on social media to influence how people behave, the media they consume, what they buy, etc. Influencers need not be traditional celebrities like musicians and movie stars.

The internet puts the power of social media attention in the hands of the common folk, making it possible for anyone to garner enough influence to be considered an ‘influencer.’ All it takes is time and effort.

The Winners and Losers of Social Media Influence

Many have tried and failed to be the next Kylie Jenner or Tyler Blevins, but most don’t even come close. What sets the most popular social media influencers apart from the rest? Well, a few things.

Pick a Niche

The most successful social media influencers are those who pick one thing. Usually, one thing they’re good at or very knowledgeable about. They choose to focus their entire online brand identity around this specific topic. This topic can be anything, from makeup to clothes, video games, or music.

The best influencers are those who stick to this one niche and build a loyal audience around it. Doing so allows them to garner a loyal fanbase, rather than those who would stop watching if an influencer started posting content related to multiple different topics and industries.

Demonstrate Your Skill & Knowledge 

It’s not enough to pick a niche. You have to prove that you know what you’re talking about. People online gravitate toward expertise. Demonstrating your knowledge on a specific subject consistently will help establish your credibility online. People will come to your social media channels to listen to your opinion on the latest news and happenings in the industry.

Network with Other Influencers 

The most popular social media platforms act as communities where people with specific interests can interact with their favorite influencers. If you follow the last two pieces of advice, you’ll likely build up a dedicated fanbase that observes other people whose content is similar to yours.

For example, you make YouTube videos about a specific video game. Most of your followers likely follow other content creators on YouTube who produce content similar to yours. By collaborating with these other creators, you can mutually benefit from gaining access to each other’s audiences.

Your audience members will enjoy watching content creators they follow working together. Those who may not be familiar with one of you will gain someone new to follow; collaboration online benefits everyone.

Engage with Your Audience

With so much content to take in online and so much more being released daily, content creators fight for audience attention. Most influencers can not afford to take a day off. They have to maintain a consistent presence online daily. In a market where attention is money, you must ensure your audience’s attention is always on you.

A Keen Grasp of Digital Marketing

This one sets the most successful social media influencers apart from the rest. They understand how to curate content online and communicate with their audience and how their audience functions as buyers. They know the most effective ways to market with their audience and gain the most profitability for themselves and their sponsors.

Influencer Marketing

More specifically, the most successful social media influencers don’t just understand digital marketing but a very specific subsect known as ‘influencer marketing. Influencer Marketing is a form of the social media marketing that involves businesses sponsoring influencers. In return, influencers will advertise the company and its products and services to their loyal followers.

The Advantage of Influencer Marketing

Social media connects people in ways no other technology before could. Followers and subscribers on platforms such as Instagram and YouTube are given a constant look into the lives of the influencers they follow. Businesses can communicate directly with their customers in ways they never could using TV and billboards.

Thanks to this more personalized connection, when brands pay influencers to advertise their products, their followers tend to trust influencers they follow more than they would a regular ad. They value their opinion. Often, they don’t even feel like they’re being advertised to.

A Changing Digital Landscape

Online shopping is becoming increasingly commonplace, with more and more people choosing to purchase all kinds of products over social media than in person from brick-and-mortar retailers. The Covid-19 pandemic pushed the global consumer market even further in this direction, crippling retailers and malls everywhere. It’ll be fascinating to see how the market changes as we move forward and the role social media influencers will play in our new normal.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

As an entrepreneur, it is essential to consider your corporate social responsibilities (CSR). These activities are not always about assisting the people but can also include activities for the earth’s well-being.

If you are one of those business owners who care for the world, you should look for ways to help you make money while protecting your planet. There are many green business ideas if you step into it.

When companies go green, it means that they begin using viable materials to generate their products. Cutting down on water, raw materials, and energy consumption are steps they take to cut carbon emissions. They try to find eco-friendly solutions for their existing problems. Such businesses run their companies in an environment-friendly manner.

If you are thinking about starting your green business, you are just one step back from protecting the climate of this planet. Don’t just start the business as it’s trendy; try to change your lifestyle as well. Show people you care. Here are six green business ideas you should consider starting.

Go Green Idea #1 – Ink Refill Business

We all have used ink pens at least once in our lifetimes. The mess it creates and the waste it produces are not something the world can overlook. 

So, you can start an ink refill green business idea to earn money and protect your planet’s climate. But how does an ink pen help you preserve the planet? If you start this business, there will be less non-biodegradable waste.

Once an ink container is emptied, you can reuse it by refilling it instead of throwing it away. It’s better to reuse something rather than pollute the environment. It can be your first step towards protecting your planet.

Go Green Idea #2 – Environment Publication

Do you love to write? Or are you an aspiring writer? Then congratulations, you can write while protecting your planet’s climate. You can start your environmental-friendly publication. Even though you are a novel writer, you can still write about the truths of the world we all live in. You can show people the reality of the world and how people are brutally killing the environment.

Introduce some green business ideas in your book and make people aware of this type of business. Let the business owners and industry runners think about their actions and how their waste disposal into the environment affects the world’s climate.

Go Green Idea #3 – Green Finance

Another green business idea we have for you is green finance. Briefly describing green finance – it’s a business that focuses on supporting small community-level projects on eco-friendly agriculture.

It also provides opportunities for education for people. It provides funding to artistic projects that support ecology. You can earn much from this business. Understand that green finance’s primary goal is to support projects that value an eco-friendly environment.

Go Green Idea # 4 – Sustainable Construction Materials

Many construction companies are working on some green business ideas. Some business owners have started providing reusable construction materials. For example, many companies offer railroad ties and pilings made of recyclable plastic instead of steel and concrete.

You can also start your green business and benefit from it. Provide a safe environment for yourself and people as well. Earn and protect!

Go Green Idea #5 – Organic Catering

If you are a food lover, you can start a catering business with an organic catering business.

You can cater events in your town and provide food to business firms. Use organic ingredients grown locally, vegan, gluten-free- or free-range meat. You can save the planet and even help people lead healthy lives.

Just make sure you avoid the usage of plastic bags and paper goods. Cook healthy and protect the environment.

Go Green Idea #6 – Eco-friendly Beauty Salon

One more idea we have for you is the eco-friendly beauty salon. You can try your hand at this business. You can go for organic and vegan hair and cosmetic products. You can open a beauty parlor or hair salon to use all organic hair products such as shampoos and conditioners. You can profit a lot from this green business idea.

These are the best green business ideas that you can try. Don’t just think about yourself; help this planet become lively and healthy again. Choose these or other green business ideas and let the world breathe. It has served you for so long it’s time to pay it back and take care of it.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The world of digital content has grown multi-fold, thanks to video marketing. Video streaming is utilized by brands everywhere as interactive content that keeps the audience engaged and interactively delivers the message. In the 21st century, where brands compete for their share of top-of-the-mind recall, nearly every brand uses some moving visuals in its content strategy.

How Can Video Marketing Help Businesses? 

Besides being aesthetically pleasing and quick to watch, videos have many benefits that have helped marketers everywhere. It is an effective way to bring your content and brand to life.

1. Build connectivity with your audience

A picture is worth a thousand words, but a video is worth a thousand connections.  Video content also provides life and color to your marketing strategy. Brands need to evolve to grow and stay abreast of competition while breaking the clutter, and video allows them to compete on all fronts. A video has been shown to create with customers by telling a story they feel connected to. Once your customers start associating with your brand, they also become loyal to you.

2. Brand awareness

The easiest way to spread the word about your brand is to generate buzz. And this is only possible if people know what your brand is, what it offers, and why they should choose you amidst heavy competition. Video marketing gives you the chance to communicate your narrative, share your values, and show your customers you are there for them.

3. Enjoy better conversion rates

A landing page that opens with a video is likely to capture and increase the conversion rate by 80%. Social media reports have shown that people expect engagement from a brand by viewing video content on their social media handles or web pages. Short, engaging videos such as gifs, pre-rolls, et cetera will get customers to consider your messaging among the rest.

4. Increased return on investment (ROI)

Return on investment is a primary KPI with most brands regardless of their industry. All businesses want to know that their spending money will bring them positive results. Video content has driven much more engagement and interaction from audiences, leading to better statistics and viewership and a higher return on investment.

5. Video content speaks for itself

The benefit videos have over static text, and words is that you can say multiple things in the exact second to view each piece of content. You can either visually show people the benefits of using a particular product or list the benefits one by one. Of course, you can already guess what content will perform better.

6. Improve search engine ranking

While videos will not directly place you on the first spot on the search results page, they can help businesses gain the top ranks of a search engine when appropriately handled by an SEO expert; placing a video on your website increases conversion rate and hence the opportunity to keep the customers coming back again and again. This phenomenon is the dwell time and is a critical ranking measure by Google. Video marketing also reduces the bounce rate of a website by capturing the users’ attention.

Tips for Efficient Video Content

Although video marketing is primarily popular with the audience, its content must also be meaningful. Of course, no one will watch a 15-minute video that talks about your brand value. On the contrary, a 15-second quick ThruPlay effectively delivers your message to your relevant audience. To create impactful content, make sure you follow some tips as mentioned below.

1. Keep it short – Focus on the video’s primary goal and keep all extra details out of the frame. Suppose you are talking about your company values. In that case, it is highly impractical to talk about a recent sales campaign you are running unless there is a connection between the two.
2. The first 10 seconds are crucial – You have 10 seconds to sell your idea to the audience. Ensure you put the essential part of your messaging in these 10 seconds to avoid being dismissed if your audience loses interest.
3. SEO is important – Your video is essential to optimizing your content. Ensure that the transcripts, tags, and descriptions are all carefully thought through before they are finalized.
4. Show genuineness – Be sure you sell what you make. You can’t talk about the purity of your ingredients if they are all synthetic. You can focus on other benefits, but contradictory messaging pushes your audience to the south.
5. Closed captions are your best friends – Most Facebook videos are viewed without sound. Because people usually scroll through social media when they are on the move, they use closed captions to keep getting distracted because of the sound.

Video marketing should be an integral part of your marketing because of its ability to help the audience differentiate between you and your competition. Brands should stay genuine and concise when they converse with their customers while trying to achieve their targets. The deeper your audience’s association with your brand, the more authentic their loyalty and connection with you.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.