Garside & Co LLP Chartered Accountants in London, Auditors, Tax Advisors, Business Advisors
  • Email
Call Now: 020 7439 1050
  • Home
  • About Us
    • Offers
  • Contact Us
    • New Client Application Forms
  • Services
    • Audit & Accounting
      • Accounting Services
      • Management Accounting
      • Forensic Accounting
      • VAT Returns
      • Audit & Assurance
      • Bookkeeping
      • Due Diligence
      • Cashflow & Profit Forecast
      • Online Accounting
    • Business Tax
      • Corporate Tax
      • Partnership Tax
      • Self Employed Tax
      • Subcontractors Returns
      • VAT
      • Tax Investigation Insurance
    • Business Consulting
      • Business Advisory
      • Business Support
      • Business Planning
    • Business Finance Advice
    • Company Formation
      • Company Secretarial
      • Company Incorporation
      • Business Start-Up
    • Corporate Finance
    • Payroll
    • Personal Financial Planning & Tax
    • QuickBooks Accounting
  • Resources
    • Useful Links
  • Bulletin Board
  • ShareFile Login
  • Quickbooks Login
    • ClearBooks Overview
Search the site...
Home» Business » Ten ways to cope with recession

Ten ways to cope with recession

Posted by admin - March 9, 2009 - Business

Most economic experts agree that we are currently in a recession. Those who don’t, acknowledge a full-on recession at least concur that the economy is at the precipice. Here are ten coping strategies:

  1. Manage your cash flow well.
  2. Diversify your products to make a margin from a variety of products.
  3. Start looking at your credit and debt. Set up a bank overdraft in case you need it.
  4. Review your accounts receivable in case a customer goes into liquidation. Be careful in extending your own payment terms, always allow for bad months, so keep ahead.
  5. Make more effective use of the internet to save on travel, training, administration and operation costs.
  6. Some sectors make profits in a recession. Find out which sectors and expand those services.
  7. Stay in touch with your active customers. Ask your customers for referrals. Revisit ex-customers to re-start with them.
  8. Make sure your pricing is competitive, your service is exceptional and your attitude reflects how much you value their business. Success can turn on making a valid case that your product or service will benefit the buyer, even in a recession.
  9. Find out what sets your business apart from the competition and market it intensively.
  10. Attend networking functions, revise your website, send out postcards, put out a new sign on your shop front.

Contact Garside & Co for a business analysis to see where cost savings can be made.

For fresh ideas, new possibilities and a value driven service go to Garside & Co LLP Chartered Accountants in London.

No related posts.

Categories

  • Accounts
  • Business
  • Economy
  • Tax

Recent Posts

  • Press Release Parliamentary Review

    December 10, 2018
  • Reporting Modern Slavery Act 2015

    December 10, 2018
  • CGT non dom rebasing

    December 10, 2018
  • Entrepreneurs Relief changes Budget 2018

    December 10, 2018

    Download Resources

    Access your free cashflow, forecasting, business planning and personal budgeting tools.

    Selling Your Business?

    Discover how saleable your business could be and find how quickly it might sell.

    Auditing & Accounting
    Business Tax
    Tax Investigations
    Business Advisory
    Company Secretarial

    Business Start-Up
    Corporate Finance
    Payroll & BACS
    Personal Financial Planning
    Personal Tax Planning

    • 020 7439 1050
    • Contact Us
      • Email
      • Twitter
      • Linkedin
    (c) 2013-2018 Garside & Co LLP | Terms of use | Privacy policy | Sitemap |