Thanks for the comments. I appreciate your taking time to write and share your thoughts.

While pricing pressures increase during recessions, significant deflation is typically more a symptom of a depression, not a recession. That said, every locale is different. I meant to say that consultants should avoid knee-jerk reactions and resist reducing rates whenever possible. In my city, competitors continue charging the same rates as in the past.

As for niche markets, my fear is that, should a consultant have focused on a too narrowly focused niche (such as realty or new auto dealerships), they may well find themselves in trouble. Whereas, if a consultant brushed up on QuickBooks or other common point of sale system skills, they may well find demand for their services rising (Intuit sales are showing strength).

That's what I meant when I wrote "by targeting clients across a variety of industries, you can better insulate yourself from the effects of economic recession." In the article, I mentioned Windows skills will be more in demand than, say, Sage Intergy skills (that target only physician offices). My Intuit example, above, is another example (multiple retail verticles, such as book stores, art galleries, boutiques, plumbing shops, nonprofit gift stores, etc. all use that platform). The broader the need for your "niche" skills, obviously, the better you'll do.