The full title of this book by Jason Schenker is “Recession-Proof: How to Survive and Thrive in an Economic Downturn“.
In my review at Amazon.co.uk. I gave it Four Stars. This means I consider it to be good to very good.
Here is my review.
A personal guide to surviving a recession
I was attracted by the title of the book and assumed it was targeted at small business owners but I was wrong. It’s a personal guide for individuals – people in work, students and parents.
It presents six strategies:
1 – prepare – for everyone
2 – dig in – for those who need to stay where they are
3 – hide – either retreat back to university or college or get a job in a safe sector
4 – run – move to a more successful area, either geographically or type of business
5 – build – take the opportunity to build your skills in new areas or start your own business
6 – invest – in an existing business, in your children, or in financial investments
The author has written a chapter about each of these strategies including exercises to help you think through your options. It is very well written, as the author reflects on his own experiences as well as drawing ideas from many different areas. It is written with an element of light-hearted humour as it tackles such a serious topic but it’s also packed with practical tips
This wasn’t the book I wanted because there isn’t much here for a small business owner or investor. However I thought it was an interesting proposition. The boom and bust business cycle means that there will be another recession, normally 7 to 10 years after the last. We’re about due in 2017 in the UK and the world, even if, when it comes, it will probably get blamed on Brexit and Trump, both of which may worsen the severity of the recession but are unlikely to be the true causes.
Since the last recession of 2008/9, the government has run with extraordinary levels of deficit spending despite all this talk of austerity and the central banks have taken astonishing actions. The recovery has been very weak, partly in my opinion because of these actions but there is much less flexibility for dealing with the next recession.
Reading this book and choosing your strategy makes a great deal of sense.
It is available to buy from Amazon.co.uk and Amazon.com.
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