Category

Recession

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...
Read More

Recession Survival Guide: Employee Measures

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

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...
Read More

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....
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More