Developing new businesses can increase recession resilience – and drive long-term growth

Maya Yegorova

Companies that incorporate new business development into their strategic priorities are better placed to withstand times of economic strain and post faster growth, according to a global study by McKinsey, the management consultancy.

Companies that prioritize establishing new businesses during periods of economic volatility outperform rivals which do not place a similar focus on this activity, a global study has found.

While those insights are promising for companies which invest time (and money) in amplifying new business ventures in the face of economic headwinds, it should also serve as encouragement for conservative organizations to adopt a more expansive mindset.

The findings were drawn from analysis by McKinsey, the management consultancy, based on survey responses from 1,000 business leaders in 75 countries.

Business development leads to positive effects

  • The study revealed that...

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