DIY PR by Penny Haywood Calder

With hindsight, there's always a lot of good things that come out of a recession and this article is designed to give you the insight to not only survive, but thrive, provided that you respond to the times and don't carry on in the same rut.

Recessions make businesses incredibly robust. That's because the businesses that survive make every penny count in this climate and set up a robust business model.

Here's some key areas to tackle.

1) Take the opportunity to improve credit control at a time when it is less likely to offend potential clients. In tough times that's expected. If you offer credit, increase the references you take up and use a credit reference agency. And sharpen up your money collection: although you can use late payment interest warnings, I find that offering inducements for early payment works better. Plus immediate invoicing, done right first time, with correct references to PO numbers and contracts. Log those who are dodging payment & chase: go round to collect in person.

posted by Shopfitter  # 10:52