GoTo: How businesses prepare for an economic downturn

Research conducted on behalf of software company GoTo found 69% of respondents globally believe a recession is likely to occur in the next six months.

The international survey of 3,700 senior-level executives and IT decision makers explored the difference in attitudes towards a potential economic downturn and how businesses are planning to prepare for it.

In America, 73% of owners believe their businesses can survive economic downturns.

Likewise, a high percentage of Asian and Oceanic nations surveyed had a strong sense of economic resilience for their businesses: India (97%), Philippines (90%), Australia (82%), Malaysia (80%) and Singapore (76%).

In the European nations surveyed, however, it’s a different story. Only two in three German (68%) and French (66%) business owners feel confident they can weather a crisis. In the UK, a mere 43% felt confident.

The study also revealed some of the actions businesses can take to stay resilient, and what advice they would give others to survive economic headwinds.

The research was conducted between August 25 and September 2, 2022. Survey respondents included business owners and executives in America, the UK, Germany, France, Australia, India, Malaysia, Philippines and Singapore.

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