The global economic recession is spreading gloom and despair everywhere. But the human spirit cannot be easily defeated. Many are trying hard to cope with the crisis. Bloggers are offering survival tips to their readers. Businesses around the world are adjusting. They are adopting new strategies; some are even profiting from the crisis. In this post, I will try to mention numerous examples of individuals and companies exerting their very best to overcome the recession. Surviving the recession Frank Coelho de Alcantara from Brazil believes that in times of crisis, some cry while others sell tissue. To survive the crisis, he advises everyone to be innovative: Inove. Melhore o que já existe e venda. A crise só existe para os que choram e compram lenços. Evandro Sudré, another Brazilian blogger, emphasizes the need to cultivate an “inner strength and resolution reservoir” during hard times: Problemas e adversidades fazem parte da vida diária, mas quando a crise nos atinge, é bom ter alguma reserva de força interior e resolução. De fato ter algum tipo de reserva na mente, da qual possamos formar um plano básico de ação e defesa com a qual possamos lidar com a situação. Você é a pessoa mais qualificada para ajudar nesta situação. But there are those who are too overwhelmed with money problems that the only solution they could think of is to commit suicide. For example, more than 70 cases of suicide were reported in Gujarat, India involving diamond polishers who lost their jobs. Others have chosen to fight. Investors (mainly in Antigua) who lost their money after U.S. billionaire Allen Stanford was charged with investment fraud banded together and formed a coalition to recover their wealth. The Stanford Victims Coalition issued this statement on their website: Stanford Victims Coalition is an international advocacy group dedicated to fighting for the recovery of the billions of dollars belonging to the thousands of innocent people who are affected by the alleged fraud of Stanford Financial Group and Stanford International Bank in Antigua. SVC is not affiliated with any political group and there are no membership fees for victims to join. In Brunei bloggers are criticizing bankrupt individuals who wanted to receive surplus funds from zakat collections. The paying of zakat, one of the pillars of Islam, is an act of giving up a percentage of one's wealth to the needy. Many were surprised that Bruneians with big credit card bills, automobile loans, and personal loans attempted to tap the zakat funds. The recession is affecting the physical and mental health of many individuals. In Singapore gym and yoga studios are overcrowded since many want to release the economy-related tension; and those who have been retrenched are now spending more time on exercise. Singapore was the first Asian country to be hit by the recession last year. Homesickhome, a worker in Qatar, discovered that the financial crisis can somehow solve shopping addiction. Kapital, a Bulgarian weekly asked its readers how the crisis is affecting them. Simeon Djankov summarizes the results of the open forum I read the answers to-date and found some expected and some unexpected things. Rents went up, as few people can afford mortgages; several small businesses said their larger rivals are in such trouble that there is more opportunity for them; stopped watching TV (as the news is so gloomy); less social divide – the nouveau rich are only nouveau now; more time to read; take more interest in the rest of the world. My personal favorite: find economics more interesting. Business adjustments What are some the adjustments implemented by the business sector in response to the global crisis? Instead of reducing the workforce, some companies in the Philippines are adopting shorter workweek hours. Because of low occupancy in their buildings, some landlords in the Manila are lowering the rates for office space. A Japanese company in South Korea used its savings and accumulated profits over the years to protect the living of its workers. Fiji’s business leaders succeeded in pressuring the government to postpone the minimum wage increase promised to the country’s workers. They warned that the increase would force more layoffs and shutdowns. This is bad news for the labor sector. Roshni Mahtani, founder and editor of www.theasianparent.com, suggests these cost-cutting measures for small businesses 1. Give Up Office Space. Monthly Savings: $1,500 2. Go Open Source. One Time Savings: $4,000. Monthly Savings: $100 3. Skype! Monthly Savings: Between $100 – $150 4. Interns. Monthly Savings: $500 5. Virtual Meetings. Monthly Savings: $100 6. Scale. Monthly Savings: $300 7. Incentivizing. Monthly Savings: Between $750 to $1,000 per sales staff. 8. Partnerships.