Troubleshooting the credit crunch

Banks have restrictions on lending and the property market is in sharp decline. Most sectors are likely to be hit with property, restaurants and retail being the earliest to see problems. The priority in a recession according to John Whiteman one of the UK's top Troubleshooter's is to stay in the game. There is without a doubt many companies that will not survive this crisis over the next two years but John who over the last 16 years has been successful in turning around the fortunes of companies in over 90% of cases says if you act decisively and early then there is a great likelihood that you will survive. For the fortunate there will be the opportunity for expansion when the economy changes if your planning and trading are good from the outset. It is with this eye on expansion that John is currently working with his clients. Setting them up to take advantage of the opportunities that always occur when there is a decline. To do this there are certain measures John implements in his clients companies to track and monitor performance. With awareness of where you are it becomes easier to see where you are going. It does not matter what the sector is, when there is a correction in the market there are certain things that can be done to maximise opportunity. John looks for his clients to remain entrepreneurial but operate a strict financial accountability. With gut-feeling and statistical analysis most companies will be able to take advantage of this decline. Five Financial Protection Areas for Small and Medium Sized Businesses: 1. Have your Personal and Business Account with separate banks. 2. Resist giving a Personal Guarantee to a bank. If insisted upon then make sure it is capped at a level of risk associated with what you are prepared to lose. 3. Always run a cash flow so you can see where you are and a little way ahead. If your best skills in business are not financial, delegate to someone who specialises in this area. 4. Look to establish two months cash at bank to cover overheads. If this is not in place make changes actively. 5. The most important thing is to have fun. If you don't have fun, do something else. It is never too late. Weblink: www.rivermanagement.co.uk