As the economy starts to see the signs of distress are there clouds on the horizon of your business?
Some of the earlier indicators are the longer it is taking to pay bills, customers are taking longer to pay or you are using personal money in order to pay the debts of the business. There is a marked rise in the number of businesses that are starting to show severe or unrecoverable stress, are you seeing the clouds before the rain arrives.
We are seeing a lot more businesses behind in their rent, making deals or payment arrangements with creditors or starting to juggle payments and cash flow is drying up.
Before things get too far it is important to understand your position, your risk and what options you have available to deal with the situation, whether it is negotiating with your creditors or starting to change the way your business operates.