Business slowdowns in a recession, a credit crunch, an aggressive competitor, unexpected events like the Corona Virus Pandemic, and other factors will always put stress on your business.
Using business management tools like QuickBooks Custom Reports will help you not only stay on top of your business but respond more promptly in a crisis.
Business cycles are a fact of business life. You don’t always know just when a recession will hit but you can expect this sort of business stress time and again over the years. How your business does during and after a recession depends mostly on how you deal with cash flow, manage debt, set up crisis management, use proactive accounting and deal with your taxes.
Here are some tips regarding small business survival in a recession.
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