Broad economic slowdowns can often trickle down to small businesses, including those in relatively stable industries. But a downturn does not have to spell disaster for your small business.
Good financial management practices will help you weather even the worst of economic times and be ready to capitalize on new opportunities, which inevitably will come when good times return.
Begin with the basics. When times are terrific, no small business can survive without good recordkeeping, budgeting and cash flow monitoring and credit management.
Be on good terms with your creditors. Falling behind on payments is never the answer, even if it is just one time. Creditors will be more amenable to renegotiating terms with small businesses they consider to be conscientious and reliable.
Watch your receivables. You need to stay on top of outstanding debts to your company, particularly problem accounts. Be firm, but also willing to negotiate where appropriate.
Scrutinize your spending. Rather than arbitrarily slashing your budget, strive to spend only on those things that have a justifiable positive effect on your business.
Photo by artfiles.art.com.
Commercial Capital Training
Welcome to Commercial Capital Training Group Own Your Own Finance Business By Completing Our Comprehensive Commercial Loan Broker Training Program Commercial Capital Training Group, LLC 90 State St. Suite #1500 Albany, NY 12207 Commercial Capital Training Group has developed a one-of-a-kind commercial loan broker training program that allows you to own a commercial finance company. With […]
e² Young Engineers
If you love children, you are going to love this business! Our programs teach science, technology, engineering and math to children and we have fun! Background: We are e² Young Engineers Young Engineers enrichment programs combine education + entertainment = edutainment. We created a variety of different programs that can be used to teach science, technology, […]
Open A Boutique
I Will Teach you How to Open a Boutique Have you always wanted to share in the excitement of owning your own clothing, accessory, gift, children’s, maternity, bridal or shoe boutique – either online or brick and mortar? Are you crazy about fashion, motivated and do you want to learn what it takes to get […]
Cell Routes USA
We Are Cell Routes USA & we are taking the world by storm!! Are you aware that today, 99% of people ages 14-80 have a cell phone? And what do you need all the time when you have a cell phone?? Accessories!! Our BOLD, BRIGHT & HIGHLY ACCESSIBLE Displays literally sell the product for you. […]
Owner Financing is a Multi-Billion Dollar Untapped Market and it occurs in about 10% of all home sales in the U.S., and it’s growing in popularity every day. Our company has been in business since 1997 and is one of the largest buyers of Owner Financed Real Estate Notes in the country. We have created […]