A guide for associations to weather economic downturns

Associations can still thrive despite economic headwinds

Nobody likes a recession. But when the economy slumps, not every organization suffers to the same degree. For example, if the economy stumbles, many companies launch into cost-reduction mode, and this could be disastrous for associations. After all, both membership fees and sponsorships with associations are often in the first round of budget cuts.

Even if a full-fledged recession does not materialize, economic issues—such as high inflation—can have a significant effect on associations. The cost of putting on an event, for example, may make that event too expensive to justify.

So how do associations maintain their memberships and fulfill their missions during an economic downturn? How can associations prepare for potential financial challenges?

Download RSM’s guide to learn about key strategies that associations can use to help them not just survive lean times, but ultimately emerge more prominent, meaningful and prepared for the future.