Credit Policy for businesses and how to extend credit and manage credit risk

As the recession becomes a reality for more and more people, the economy is slowing down even more, foreclosures are everywhere, bankruptcy is soaring and businesses as large as Citigroup are failing. 

How is your business doing?

Tom Taulli gives some great tips that you can start doing today, on how businesses can deal with the recession.  It is imperative that you take steps to protect your business as the recession grows, now may be the time to cut back on unnecessary features on your phone, or changing your light bulbs to be more energy efficient.  Every small thing that you can do, will only help you. 

Be firm with your billing and accounts receivables, don’t extend credit without doing a thorough credit check.  Now is not the time to be lax with your credit policies.