The Small Business Development and International Trade Center (SBDITC) and the South County Economic Development Council (SCEDC) recognize the importance of helping you maintain financial balance, especially in these times of severe economic stress. Warning signs of trouble in your business’s future are evident, if you know what to look for. There is one positive note during these tough times: periods of economic stress can offer opportunities to look for ways to save money and plan for the future. You can start by examining your business for these key warning signs:
- A significant increase in receivables
- A rapidly increasing inventory
- A drop in sales or difficulty in maintaining market share
- Difficulty in obtaining credit or working capital
- Difficulty in obtaining infrastructure/growth capital\Observing competitors and customers changing operations, marketing or sales strategy
- Inability to pay vendors in a timely manner
- Routinely accessing available credit to finance current operations
- Changes in supplier’s terms and availability
For more tips on surviving the tough times, click on the Survival Tips section of our website. The list was compiled by experts on small business in San Diego.
Do you have any tips? Share your thoughts in the comment section below.
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