Many industries are clamping down on their credit policies as a result of falling profit margins and slumping demand for products during the first three months of 2008, according to a quarterly survey by the National Association for business Economics.
The industries that seem to be most affected right now include manufacturing, telecommunications, finance, and retailing according to the Wall Street Journal.
Most people who took part in this survey say that the governments stimulus package that is being provided to help stimulate the economy will have no effect on their business.
Most companies are re-writing their credit policies to include stricter guidelines and to protect themselves and their companies.
What steps have you taken to avoid extending credit without to much leniency?
How has this affected your business?
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