An unsettling word has been cropping up in worldwide financial news reports this year.
For instance, the US gross domestic product fell during the first two quarters of this year, a traditional metric associated with a recession. Some financial analysts are now saying that, because of high inflation, rising interest rates and the war in Ukraine, it’s not a question of whether there will be a recession, but how bad it will be and how long it will last.
How is the Christian entrepreneur to respond in times such as these?
More importantly, how should Christian entrepreneurs be different in these situations? How can we not only do well but do good in challenging economic periods?
We recommend you consider one or more of these insightful resources:
- First, if you are less familiar with economic topics and need a short primer on the topic of recession, check out the article “Economics for Church Leaders: Understanding Recessions” by Joe Carter (about four minutes to read), posted last year on the Gospel Coalition website.
- Those with a significant level of economics understanding and interest will benefit from the detailed discussion of recession and the economy by financial experts on a Faith-Driven Invester podcast from July of this year (46 minutes).
- Specifically for entrepreneurs and business owners, the Forbes article entitled “How Entrepreneurs Can Embrace The Recession And Use It To Their Advantage” (about six minutes to read) discusses three ways entrepreneurs can do more than just survive a recession.
- Finally, the article A Christian’s Perspective on Economic Downturn by Greg Forster (about five minutes to read) reminds us of how followers of Christ can shine brightly in times of economic distress: “Discipling people for the new economy is a major challenge. But our gospel is big enough, and our God is strong enough.”
“I have told you these things, so that in me you may have peace. In this world you will have trouble. But take heart! I have overcome the world.” John 16:33 (NIV)
Let’s remind ourselves that, though troubles of all kinds are bound to come, there truly is peace in our King Jesus, who has overcome the world!