Prepare now for the next recession!
The next recession looks like an 18 month recession, beginning as soon as this year, and probably between 2019-2021. LERN predicted the last great recession in an article published in The New York Times, January 6, 2006.
If a recession does not occur, no harm, no foul. Planning is no-cost and well worth the preparation.
For a complete report on recession planning for lifelong learning programs, see our Recession Memo in the LERN Club.
There will be about a one year time lag from the start of the recession to your institutional budget impact. At the start of the recession your lifelong learning program will notice a difference in your registrations and income. And then in your next fiscal year you will be impacted by your institution’s financial response to the recession.
Preparing for the next recession should not cost you money, should not limit your current success, and should not mean prematurely making budget cuts. Preparation for a recession should a) position your programfor flexibility in responding to a downturn; and b) inform your institutionof how the marketplace functions and what you are doing until the recession is over.
For a complete report on recession planning for lifelong learning programs, see our Recession Memo in the LERN Club. Forgot your password? Email us at info@lern.org
