Why doing nothing is never a good idea

Early recognition that a business is in trouble and swift action can maximise the chances of survival in these difficult times, says Barry Lynch

In the current business climate of economic doom and gloom, spiralling costs, credit crunches, indebtedness, tightening credit lines, staff layoffs, weakening order books, margin pressures etc, it’s no wonder many business people in small and medium sized enterprises are concentrating on survival for the immediate future.

Running a tight ship is imperative in recessionary times, ensuring that overheads are in line with the current level of business.