Thursday, December 17, 2009

Recession Busting Tips No5 - Financial Status

Always be fully aware of the current financial status of your business and how the next few weeks will impact on it, know the current outgoings and expected income.

Always communicate with your business bank manager. Try to keep in regular contact (this will vary depending on your business and its requirements), keep them informed of your circumstances and if you think you may have difficulties get their help, sooner rather than later.

Always keep to your commitments and do exactly what you say you will do, the bank will look more favourable on you and your situation.

Whatever you do “DO NOT BURY YOUR HEAD IN THE SAND!” This can be fatal.

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