1.  Prioritize Credit Building And Position Yourself As A Reliable Investment For Creditors.

Have your business plan and financial documentation in order, stay on top of any payments, and invest in a merchant cash advance to take the strain off your personal credit accounts.

2.  Forecast Carefully.

Effective sales forecasting is key to business success regardless of whatever the economy holds in store. Include a range of situations in your outlook for the future, from optimistic, to realistic to code red. Create a plan for each scenario so you have a roadmap no matter what comes your way.

3.  Maintain Strong Relationships With Your Customers.

Everyone knows it costs considerably more to gain a new customer than to keep an existing one. Maintaining your base is critical in a rough economy. Stay in touch, ask for their feedback, and address any concerns they may have quickly and thoroughly.

4.  Know Your Numbers.

You can't navigate an uncertain economy if you don't have a handle on where your business stands financially. Keep track of cash flow, profit margin, budget, expenses, inventory, and sales.

5.  Don't Cut Back On Marketing.

Many businesses see marketing as expendable, a nice-to-have expense when times are good. But marketing during a recession is a must-have. Keep up your website and social media platforms. In football terms, sometimes the best defense is a good offense.

6.  Consider Additional Revenue Streams.

A recession may shift our customers' needs and priorities. Shift with them. Offer more products or services, and add new distribution channels.

Over the years at Quikstone Capital Solutions, we've seen the economy rise and fall, but there is one constant: the power of small businesses.

Since 2005, Quikstone has helped thousands of merchants get through the hard times with fast, easy, and flexible working capital for all their business needs, including purchasing new equipment, hiring employees, increasing inventory, creating a marketing campaign, and adding the latest technologies. If you accept credit cards, you could qualify for up to $250,000. Contact us for a pre-qualification so you'll have the funds when you need them. There's no cost or obligation, so apply today!