survive credit squeeze

Top Ten Tips to Survive the Credit Squeeze

Whilst the global credit crunch affects the UK’s Small Businesses there are things that you can do to try and weather the financial storm. Clive Lewis, Head of SME Issues at the Institute of Chartered Accountants in England and Wales (ICAEW) presents his top ten tips to survive the credit squeeze. Put cashflow and financing on the agenda for every management meeting. Regularly update cashflow forecasts. If there is a conflict between profitability and cashflow take the cashflow option. If you have a term loan or overdraft be aware of any covenants and constantly monitor how close you are to breeching them Prepare thoroughly if a review is coming up on any of your financing facilities If limits might be threatened "think the unthinkable" regarding the sale of assets. Talk to... »