While it is impossible to know when or how extreme a recession can be, there are steps that wise business owners can take now in order to prepare their enterprise for leaner times ahead.

A lessor is an individual or organisation that leases or rents property to a lessee (tenant). The lessor owns the property and grants the lessee the right to use it in exchange for rent payments. This term is commonly used in real estate, vehicles, and equipment leasing agreements.