Though companies were cautious about expenses, a majority of solution providers continued to make investments in their company, which is crucial to the future. Only one-third of respondents reported delaying or canceling investments during the recession.
“In a down economy, continued investment is critical to future success,” April said. “Companies that tread water waiting for the recovery to happen will find themselves well behind those competitors that, despite the tough economy, kept putting dollars into exploring new technology offerings and vertical markets and did not stop marketing aggressively.”
While layoffs decimated many sectors of the economy, the majority of solution providers said they avoided staff reductions. More than three quarters (77 percent) reported no staff reductions during the recession.