Tips For Survival In An Economic Downturn

If you are still feeling the effects of the economic downturn, try the following tips from Doug Richard, entrepreneur and Dragon.

1. CASH IS KING

Manage cash – if you’re out of cash and out of credit, you’re out of business. You need a good 13 week cash forecast, generated NOT from the income statement but from a detailed understanding of receipts and disbursements. Monitor trends in your cash flow to keep on top of any sticky situations.

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