When it comes to the complex financial picture of a business, debt is a crucial piece of the puzzle. Carrying some debt is normal, but during a recession, highly leveraged companies are particularly vulnerable. As the economy contracts, demand falls, and so does revenue. Shrinking sales means less available cash on hand for funding operations....Read More
Laying off Employees To Save Money May Cost More Long Term When the economy is experiencing a slowdown, business owners have a wide range of challenges to address. But there is no stickier situation than what to do about staffing. Dealing with the human element is about more than just cold hard numbers, and it...Read More
Staying on top of receivables is a never-ending challenge for businesses, even in the best of times. But during periods of economic slowdown, maintaining a healthy cash flow becomes exponentially more difficult. Cash flow is a company’s life blood, – its most precious resource – and it can be disastrous when it begins to dry...Read More
As signs that the economy has entered a recessionary period are starting to add up, business owners are bracing themselves for the possibility of shrinking revenues. Those who have cash reserves might need to tap them, and those who don’t might end up wishing they had created a fund to help their business make it...Read More
When you’re feeling worried and stressed about the possibility of a recession rolling in, you might not be in the mood to tackle the tedious task of cleaning up the company books. But when hard times hit, it is more imperative than ever to get your financial records into solid shape. Untidy books will lead...Read More
In this new blog series, Blackburn Capital managing partner Greg McDonough explores how businesses can strengthen operations to stay afloat during the current economic slowdown, and any future recessions. Drawing on many years’ experience as a business manager, entrepreneur and financial consultant, McDonough offers tips, strategies and action plans designed to build a solid survival...Read More
Vital steps must be taken in advance to plan for an acquisition During the 22 years that Don Britton spent running his company, he developed an ardent interest in building strong teams in the workplace. So when he eventually decided to sell Network Alliance, gathering his employees together to break the news about the deal...Read More
$10 billion set aside to help businesses recover, especially those facing disadvantages Some companies that survived the pandemic have found ways to pivot, innovate and adapt to the new circumstances of a changed world. In some cases, they even managed to thrive. But many others are still hanging on by a thin thread as they...Read More
In my first podcast episode, I spoke with FMS Inc. owner and founder Luke Chung. On the morning of 9/11, Luke Chung was among millions of Americans reeling with shock and horror when terrorists hijacked four airplanes and slammed them into New York City’s Twin Towers and the Pentagon headquarters in Washington, DC. Bystanders felt...Read More
With interest rates set to rise this year, many businesses are thinking about getting access to some additional cash before the cost of borrowing goes up. However, just because interest rates are going up, is that a good reason to get a loan? A better question to ask is “regardless of interest rates, is getting...Read More
