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

Since we are being told that we are not in a recession, you still have time to take steps to recession proof your business.  Just like you want your customers to pay you, whoever you owe money too is in the same situation. 

Now is the time to pay off any debt that you can.  Dealing with a recession is going to be hard enough, but if you have a boatload of debt on top of that, your stress level is going to go through the roof.  

Pay cash for anything you NEED, of you don't have the cash, ask yourself if you really NEED the item or do you WANT the item.  

Put your credit cards in the freezer or cancel them and cut them up.