Bibby Prepares Tips for SMEs on How to Beat the Economic Slowdown
As the stock market continues to fall and an economic slowdown looks inevitable, leading business finance providers Bibby Financial Services have prepared ten top tips designed to help small business owners and managers survive the difficult trading environment.
Top Ten Tips
1. Always check the credit status of a new customer
Risks must not be underestimated in the enthusiasm for taking on new business. Credit checks can be done quickly and are relatively inexpensive. It is important to establish the correct business title, together with its legal status (i.e. limited company, sole trader etc.) before seeking reports from agencies or trade references.
2. Review existing customer status
Remember that circumstances affecting existing customers are constantly changing, so they will also need regular reviews.
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