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.

Forfeiture refers to the loss of rights, property, or assets, typically due to breaching an agreement or failing to meet obligations. In legal or contractual contexts, it can result in the loss of a deposit, rights to a property, or other assets as punishment for non-compliance.