Augusta
VIP Contributor
The bad economy of any country do impact negatively on businesses.if a business owner isn't on hands to handle the situations of the business as effective as possible then they might be a total collapse of the business under the weight of bad economy
So how can a business be managed to prevent the effects of bad economy on it
Get a handle on your costs.
Bad economy comes with inflation, try to put measures in place that will help you lower costs of running the business.
Manage your cash flow.
Bad economy can lower the sales of the business. You need to adopt practical ways to still increase sales to increase cash flow.
.
Protect your revenue.
Bad economy can harm your revenue sources so be smart about debt management and look for new ways of financing your business
Strengthen your cash reserves.
You need to save more with a bad eco8. Don't forget to stay on top of your receivables
What's your views?
So how can a business be managed to prevent the effects of bad economy on it
Get a handle on your costs.
Bad economy comes with inflation, try to put measures in place that will help you lower costs of running the business.
Manage your cash flow.
Bad economy can lower the sales of the business. You need to adopt practical ways to still increase sales to increase cash flow.
.
Protect your revenue.
Bad economy can harm your revenue sources so be smart about debt management and look for new ways of financing your business
Strengthen your cash reserves.
You need to save more with a bad eco8. Don't forget to stay on top of your receivables
What's your views?