Question

How to manage business during recession?

Answer 1

Answer:

The first step is to cut or reduce your monthly cash outflows (ie., expenses).

Reduce your monthly rent. ...

Get a discount on utilities. ...

Cut wasteful discretionary spending. ...

Lease rather than buy. ...

Pay payables later. ...

Collect receivables sooner. ...

Keep your existing customers. ...

Double-down on your best customers.

Explanation:

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