Business advisor gives tips on how to survive recession

Business advisor gives tips on how to survive recession

By Munirah Al-Fayez

KUWAIT: Kuwait Times interviewed Sultan Al-Farhan, a business and tech advisor, about a prospective recession and its effects on businesses and individuals. He spoke about how everyone should deal with it. Farhan, who worked in banks for many years in the credit analysis sector, where they analyze companies to look at their sustainability and projected future, said a recession could happen due to many different reasons. But in general, it would be a due to problem either in demand or supply. For example, in 1973 the rise in oil prices was due to a decrease in supply, since some governments decided to place an embargo on petroleum exports.

“This increased the price of petrol and gas, which as a result increased all prices. How did governments resolve this issue? They solved it with negotiations and conversations. Countries that were affected by this sat down and had a conversation with countries that stopped the supply, and the problem was solved.” What we are going through currently, according to Farhan, is a result of the war in Ukraine, which increased the price of grains, barley and almost everything else, including the logistics of the supply chain. The other thing is, after