The British economy shrank for the first time in 16 years between July and September, confirming that the UK is on the brink of recession.

Output fell by 0.5%, according to the UK’s Office for National Statistics, a bigger-than-expected drop, knocking UK shares and weakening the pound. The news has sent shockwaves throughout the world’s financial markets as stock markets tumble in reaction to the report.

The UK will be classed as being in recession if the economy slows in the fourth quarter as well.

However in the midst of the doom and gloom news bulletins, I was very pleased to see that some people are being proactive and are taking steps to shield themselves from the effects of the recession. While watching the BBC news today, the head of a British company said he was actually investing more money to protect his company from the recession.

He runs a factory that manufactures office stationery. The owner was investing £1 million in new equipment that would make his production more efficient and cost effective. This new equipment would make it much cheaper and easier for him to fulfil much smaller orders. That, in my opinion, is a very shrewd business move.

If he had to borrow money to acquire the new equipment, then it would have been a little too risky. However, if he has the funds saved from retained earnings, it makes perfect sense.

Sitting on a pile of cash in a recession is like saving ice, and hope it won’t melt. In a recession, you need to invest more money to secure as many sources of revenue as possible, while keeping costs at a minimum. If you keep spending your cash, without using it to generate new funds, it will eventually evaporate right before your eyes.

That is the very said reason why investing in premium domain names are one of the very best proactive steps that business entities and individuals can do right now to help secure their future.

Companies will need to cut cost and increase revenue, while individuals will need to focus on how they can sell their skills or start a business at minimum cost and operate it with very low working capital.

The web is the answer. The internet is a gold mine. I won’t expand on that. But, take it from me, the internet is a gold mine. Some people will succeed beyond their wildest dreams, while some will lose all they had, and plunge mercilessly into the red.

It is clearly a case of what you know and don’t know. eBusiness starts with a quality domain name. Whether you are selling embroidery sets, or motor stereos or tax services as an accountant, your success will be heavily dependent on the domain you choose to use.

We have written a few articles and blog posts that emphasises the need for a premium domain name, and also share a few tips on how to choose the right domain name.

In business, and especially during a recession, you need to maximise revenue and minimise costs. A premium domain name helps you to achieve just that, and much more.