Fireart Studio Julia Hanke

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The global recession is a turbulence time for all businesses. We have used to be afraid of scenarios that may play out during and after the financial downturn. Sources define this period as “a significant decline in economic activity, lasting more than a few months, normally visible in the real gross domestic product (GDP), real income, employment, industrial production, and wholesale-retail sales.”

The history of big brands founded during a recession may be enriched with new startups today. It’s a high time for entrepreneurs to honestly ask themselves whether COVID-19 is a startup disaster or a boost to innovate?
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