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Understand where your business stands and how the sector is performing.
Act decisively – don’t get paralysed by fear, try and identify new opportunities.
Cash is king – it always has been and always will. Get advice to improve cash retention.
Focus on customers – cash may be king, but customers are also vital to success.
Be future savvy – don’t panic, try and plan for the upturn as well as survival.
Innovate – cuts in R&D may help short term cashflow, but again look to the future.
Invest – many companies will struggle, so look for acquisition opportunities.
Keep your staff happy – you may need their support if times do get hard.
