Recession Survival Guide: Managing Your Receivables

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...
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Recession Survival Guide: Cutting Expenses

The indicators that a recession has descended upon the United States have started to stack up. These economic signals forecast tougher times ahead. Whether that materializes officially into a recession or not, entrepreneurs from coast to coast are asking themselves the same question: what steps can I take to protect my business from the impact...
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Recession Survival Guide: Never Let a Recession Go to Waste

The very idea of a recession looming on the horizon can cause dread and anxiety to creep into the hearts and minds of even the most resilient and fearless entrepreneurs. But handled properly, a recession can become an opportunity. Financial experts advise that you should never let a recession go to waste. With some careful...
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Recession Survival Guide: Revisiting Your Financing

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....
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Recession Survival Guide: Building A Cash Reserve

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...
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Recession Survival Guide: Now is the Time to Clean Up Your Books

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...
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Recession Survival Guide: Are We in a Recession and Will the Economy Get Worse?

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...
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Tech entrepreneur that exited successfully shares how he did it

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...
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US Treasury prepares to launch expanded entrepreneur rescue program

$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...
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Tech entrepreneur teaches team to face unexpected circumstances

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...
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Certified Insolvency & Restructuring Advisor (CIRA)

Author of The Turnaround
available on Amazon