The Recession of 2008/2009 has hit most firms in all industries. However, this doesn't have to be a bad thing. Being a small IT Consulting firm, the recession was a great opportunity for us to acquire sales peoples from big firms such as IBM as there have been many layoffs across the bigger corporations.
Also, aside from acquiring special talent from other firms, this is the best time to find new clients if you focus your selling point on price and ROI. Since we also have an office overseas, we are able to leverage the cheaper expenses hence provide top quality services for less. One of my biggest fears of the recession is when a client goes bankrupt and the reality that takes place after.