GoFaxer Blog

It’s beginning to feel a lot like 2001. That’s right. Everyone’s saying the big “R” word. In case you haven’t been reading the economic headlines, “R” stands for recession.

Yesterday the Fed cut interest rates by one half of a point. That’s good for people looking for loans but it’s bad for the economy in general because it means the ship is going down. Interest rate cuts are the ship Captain’s way of throwing out the life boats.

A recession is defined as a widespread decline in economic activity lasting more than a few months. Many economists are speculating that we’re already in a recession. But it’s one of those things where you don’t really know until you’re well into the recession.

The signs are not looking good. Today, with the announcement of the rate cut, the market seemed to increase, only to collapse by the end of the day. And there’s no immediate solution to the housing marketing struggles. Real estate is not likely to improve for another year or so.

So what’s a small business to do when faced with these almost eminent challenges? You’ve got to start shoring up cash anyway that you can. You want to make payroll and prevent lay-offs Now is the time to be more efficient than you’ve ever been. The first thing to do on your list is to get rid of the fax machine and start using Internet fax. It’s one of many solutions to a world wide challenge.