View Full Version : Survival In Financial Recession

March 23rd 09, 11:57 AM

Business standing firm during a recession is no easy thing. Cash is
stiff, and for most businesses this is a nightmare which adversely
affects productivity because of the on going global financial melt
down, and the cycle continues. Now the first solution to surviving a
recession is to understand that it will be over shortly. In the past
we have seen recessions lasted for 6 to 18 months, but it seems like
to be stay for a long time. By setting up basic guidelines businesses
could perform well even in this time, for e.gÖ..

If your finances are tight, resist the urge to spend on anything not
vital - wait until the recession has almost ended and prices are still
favorable. On the other hand if you feel to have a little extra
spending money, so presumably itís a time for fine deals. Many
businesses need to accelerate sales, so they will be offering their
best deals. Analyze the whole offer, compare against competitors and
then buy. Remain chill and stress-free. If you're striving
financially, consider the millions out of work! Likewise for business,
the foremost thing is to monitor progress of accounts closely, donít
spend any excess and keep alert to customers unable to pay bills. Once
you've decided on a course of action, then follow that policy and
donít worry about market volatility. Keep focused on the long-term
plan. Itís your money managers job to analyze the status of your
accounts and propose changes if required to keep on track. Even so,
make sure your investment advisor is registered with appropriate
authorities and audited by a reputable firm annually. And never put
all your eggs in one basket. But you know that.

At end the last step is to monitor growth. In other words evaluate the
process each quarter and updating your records and adjust your plan
accordingly. This procedure will helpís you to reach your goals.

David E Simpson
Starling Group