How to Survive the Recession?
By siliconindia   |    3 Comments
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Bangalore: With the dollar falling down in the ranking rate, the world is foreseeing second recession within a decade. Many big companies have lost millions of dollars and is still surviving and striving hard to make up their loss. But what about the small and new enterprises? How can they survive this recession to grow further? Many small entrepreneurs panic during such time and take wrong decision that may be dangerous for the future of the company. The following points may provide help to successfully recast your business and succeed in the new economy. Eliminate excessive debt
How to Survive the Recession
The time when you smell the recession, start eliminating excessive debt to reduce the cost of running the business. An excessive debt could lead you to bankruptcy. Check on for every expense by making a track of it. Figure out which product or services provide you the maximum profitability and which does not. Do not invest on the one that is not providing you profit as it may lead you to more debt. After surviving recession, you may ask for an additional time to pay off your debts. You may even take the help from loans guaranteed by the small business administrations, mortgages and even leases.

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