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SB: Coping in a recession

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Comments

  • fusar
    fusar Posts: 151 Forumite
    Back to the main topic...ie. how to survive a recession, I would suggest the below (most quite obvous...)

    1. If you don't have a website already, create one (you can build one yourself with an "off the shelf" package - I did and found it quite easy). I have had a number of clients come to me via my website, and I am also considering using the website to sell some of our stock as well, as an additional purchasing route.

    2. Scroll through the moneysavingexpert.com website, on a regular basis, as you can pick up some great money saving tips and advice.

    3. Join the Federation of Small Business, as they have a great support network and free legal advice when you need it.

    4. If you are good with a pen and paper, try and think of some interesting information about your company ie. recent achievement, new employee, competition etc.. and write a press release about it, sending it to your local papers. If you can get some positive, free editorial then that's great...

    If I think of anymore, I will add them to the thread. Let's have some more ideas, and help each other to become commercially stronger within the recession.
  • mardatha
    mardatha Posts: 15,612 Forumite
    Could you maybe post some examples of "off the shelf" easy to build, websites ? please? I was looking on google but got totally lost !
  • ceridwen
    ceridwen Posts: 11,547 Forumite
    10,000 Posts Combo Breaker
    I'll second that please - ie easy websites...
  • slipp_digby
    slipp_digby Posts: 413 Forumite
    Understand the costs you are incurring in running your business and review these on a regular basis. If your costs are fixed, but you income is reducing considering which costs are 100% vital to acheiving income and which could be reduced in harder times. Plan ahead if possible, so you can act quickly to maintain profitability.

    Have some key indicators of financial performance, but also some which monitors the efforts of other key aspects of your business. We measure the value of proposals we send to clients on a monthly basis, new work won/accepted and also our income (and a quick P/L report).

    Keep existing clients where possible. It usually costs far more to win a new client than to retain an exsiting one.
  • rainee
    rainee Posts: 454 Forumite
    abd08 wrote: »
    We too are having problems with some customers and payment...

    Can anyone recommend a credit checking agency which they personally use and trust?


    We use risk disc which is excellent doesn't cost too much and you can keep tabs on customers constantly
    if you need any info please email me
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