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.