Our modern world is a global marketplace, a web extending throughout every country and region. When economic activity rises or falls in one country, there is a ripple-effect spanning the global economy. The COVID-19 pandemic started as a health crisis, then became an economic concern, and now has resulted in a recession affecting companies and employees worldwide. Small businesses and startups that lack access to financial and equity markets and government support may face particular challenges during a recession. The understanding of how economic factors affect business is essential, so, in this article, you can learn what to expect during the COVID-19 crisis and how you might mitigate the effects of the recession and come out stronger on the other side.