Proof of this is all around us with everyday bringing news of more companies cutting back or collapsing altogether.
However this is not to say we should give in to the newspapers overall mood of doom. Many companies will undoubtedly find this year tough, but we must remember there will still be winners.
It may be surprising to some people that I would say my approach to doing business, recession or not, does not radically change, as the same overall principles apply in the bad times as good.
The best businessmen are tailors and whatever the circumstances should shape the business with both the best and the worst case scenarios in mind.
It is more important than ever for people to be able to balance their focus on the whole business and the areas that really matter.
Without a doubt companies must invest more in the good times to safeguard against the effects of a downturn, which will pay off in the current climate. But equally they must also retain a flexibility so that those investments can be ceased and liquidated at relatively short notice with little penalty to the business.
For , it has been important for us to continue investment in the areas where we can see a clear demand for the growth.
This has included investing heavily in developing our call centre business and positioning it as a standalone offering -- .
It was crucial for us to allocate adequate funding to this in order to effectively establish it.
As more and more call centre activity is being outsourced, due to companies wanting to reduce their own staff numbers and outgoings, we are well equipped to deliver the flexible solutions these companies are looking for.
In any recession there are winners and losers; we are fortunate that many companies understand the value of outsourcing in tougher times, as this has allowed us to flourish with growth rather than batten down the hatches.
Recession also brings opportunities. Acquiring talent from competitors is easier in these times with good people looking for a future.
In marketing, perhaps more than any other business the best hidden asset you have is your staff.
We are currently taking on skilled and experienced professionals to ensure this key asset continues to be nurtured. It is also important to realise that the onus is on us to provide the best environment in order to attract and retains the best people.
All in all the recession is proving to be a winning situation for those providing outsourced services. When everyone is busy trying to bury bad news from last year we are proud that we increased our sales and profit by 12% in 2008.
We are not stopping there either, and continue to see the coming year as full of opportunities.
Darwin may not have been thinking of the city and stock markets when he wrote his seminal work but he was right none the less.
It is the survival of the fittest -- so get out there and make the most of the opportunities 2009 offers you.
Stephen Bentley, CEO, Granby Marketing Services.