So far, we have talked about how your attitude and getting liquid can prepare you should we go into recession. However, you could do everything right and events and/or other people could undo your efforts because they were not as prepared as you were. What are these things, who are these people likely to be and what can you do to minimise the risk they present? People: Suppliers If you sell or manufacture products then one of your most vulnerable points is your suppliers. How

Ask any business owner how well they are doing. The answer invariably will refer to the amount of sales that they are doing. As a consultant who has worked with many small and medium sized businesses from many industries and from small to large. I don’t judge a business from its sales but rather its profitability on those sales. Chasing sales is one of the main causes of liquidity issues in small and medium sized businesses. It ties up cash, increases accounts receivable and

There has been a lot of talk lately about the potential for a global recession in the near future from which North America would not be exempt. The conversation almost always focuses on the negative aspect this will have on businesses. As someone who has lived and worked through two significant recessions in Canada, one of these on a bank collection team dealing with the consequences of a recession, I have learnt a lot about who survives and who fails. Yes! There are business