As the economy changes, so does consumer spending, which in turn impacts most every company. Decreases in your customers’ spending can negatively impact your company’s bottom line and decrease the things your company can spend money on. In some ways, it can become a vicious circle.
When your income decreases, your company usually cuts the “extras” first. While you may need to decrease unnecessary expenses, you should look at how cutting expenses and services may impact your company overall.