The Credit Crunch
The news lately has been full of doom and gloom as we enter a period of global economic
difficulties, but it is not all bad news. Although we should now all prepare to weather
the current difficulties for a few years, the banking system will eventually repair
itself and confidence will return. We are optimistic that many businesses can survive
and even prosper during this difficult time with the correct strategy and early action.
We have been keeping a close watch on recent events and analysing the bad economic
news, falling stock markets and failing companies. We believe that as many people
worry about their businesses, jobs and savings and lose confidence in the banking
system our policy makers are being slow to respond effectively to the crisis. Regrettably,
in our view the economy is likely to get much worse before it improves, and we suggest
that it is essential that you take the time to understand what is really going on
and explore the options available to you to protect your businesses and investments.
Click here to download our autumn newsletter from our business network in which we
have written an article to help make sense of the credit crunch. It explains how
we got here, who is to blame, what the credit crunch means to you and what you can
do to survive it and finally what is likely to happen next. We have helped a number
of clients to survive and avoid insolvency by refinancing, working with creditors,
managing their business risks and improving their profitability. Our experience suggests
that a lot of businesses that fail would have survived had they sought help earlier
and received the correct proactive prompt action. If you have any questions or concerns
about how the credit crunch might impact on you or your business and wish to discuss
this matter then please contact me for an initial free consultation.
Related Articles
Business Trouble – Early warning signs
Creditor Advice - including how to avoid bad debts
Economic Outlook - why it matters (published Jan 2003)
