Corri Smith is planning to hire a full-time project manager for her public relations firm and make her part-time assistant full-time. But she has a wary eye on the economy.

“It’s been a long time since we’ve had some trouble in the economy. It can’t all be wonderful — something will happen,” says Smith, owner of Charlotte, North Carolina-based Black Wednesday.

Smith, who believes an economic downturn is likely in the next 12 to 18 months, says. “I will be extra cautious with hiring alongside also making plans to stockpile and save revenue.” She’s aware that marketing is one of the first budget items to be slashed when corporate executives are anxious about profits.

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