The reality does exist that business, the economy, interrelated parties that your business deals with, go through peaks and troughs at various times. Hence your business will react to those internal and external events.
Part of business advice is anticipating any trough periods and how to deal with them.
Effective management can often assist work your way through those periods.
We have already mentioned the importance of a business action plan and converting that into budgets and cash flows as this is how you assess the short and long term effect of any cycles. What this allows is that In cases of business difficulty what you need to retain is CONTROL and enough TIME to allow clear thought and actions to guide your business through.
We often facilitate recovery of businesses by working closely with ADMINISTRATORS AND LIQUIDATORS should the situation of your business require that service.
This site provides no advice - the comments are general in nature hence cannot be relied on as the circumstances of your situation varies case by case. You must seek individualised advice specific to you and or your business circumstances