How to make money when the economy is down

Economies of countries the world over experience challenges every now and then. Typically, they  fluctuate between periods of strong and weak growth, known as economic cycles, which are characterised by unique set of events. During an economic boom, there are high levels of economic growth. 

Consumer confidence is strong and consumers have a more positive outlook on the state of the economy. Conversely, during a recession, there is rising unemployment, a sharp decline in business confidence and profits. This eventually impacts negatively on Gross Domestic Product (GDP) leading to high levels of inflation, increased government borrowing and rising cost of living. 

Not too long ago in 2011, Ghana was ranked the fastest growing economy in the world with a record high growth rate of 14 per cent,  making us a lower middle income country. This was a period of economic boom for Ghana. Today, based on the concept of economic cycles, the same cannot be said as Ghana is now su