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My family lost a lot in the last recession due to corporate downsizing, and it’s hard not to take the threat of another recession personally.

Yeah, it’s probably going to take all day to type this URL in correctly, but it’s not a bad idea if you own a business and are susceptible to economic downturns (Hint: any business that is somehow connected to tourism falls in this category). While most big companies generally have large cash hordes and a list of creditors that could stretch around the equator to fall back on it, small companies are a little harder put to it when a recession is underway. Here’s a list of eight tips to help your small or medium-sized business muddle through.

Even Steve Forbes, the owner and publisher of Forbes Magazine, believes that the American economy is slowing down, possibly stopping, possibly even going in reverse. While Alan Greenspan (or "God" to everyone who has money in the market) will do everything in his power to alleviate the situation, Forbes warns against trying to do too much – if Greenspan cuts interest rates and the economy doesn’t improve as a result, then we could be in for the long haul if the prolonged Asian Economic Crisis is any indication. Scary wisdom from a brilliant man.

Finance Minister Paul Martin should have been Prime Minister. Follow this URL to find a recent speech on the promises and pitfalls of the global economic system, which will be discussed at the upcoming G20 meeting in Switzerland – 19 counties that account for 88 per cent of the economy, 66 per cent of the world’s population, and 60 per cent of the world’s poor. Although he doesn’t use the word "recession" he does use the Asian Economic Crisis as a prime example of the faults of the global economy and discusses the possible ramifications of an economic slowdown in the U.S. This is a simply brilliant speech that captures all the hopes, fears, positives and negatives of the global economy.

For virtually every business on the face of the planet, wages are the biggest expense. That’s why employees are the first thing that get jettisoned before the crash. Nobody is safe, with the possible exception of the president and CEO, the vice president, his son, and the few low level employees that actually understand the product or service that’s offered. Middle and upper-middle managers, with high salaries and benefits are usually let go or forced into early retirement, only to be replaced with promising lower level employees who will be expected to do twice the work for a lot less pay than their predecessors – or so my experience has shown me. A man by the name of Theo Larch put together a list of common early warning signs to help you recognize the first stages of downsizing, and protect your job.

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