Last month, the blog titled its 2009 Outlook, Budgeting for Survival. This week, the Financial Times has begun a series on developing recession survival strategy. Its key tips are:
• Manage your cash. Don’t spend money unnecessarily.
• Keep a strong balance sheet. Have as little debt as possible.
• Price your products/services keenly. Be imaginative.
• Keep faith in the future. Eventually, downturns lead to an upturn.