How is the economy effecting your business?
“How is the economy effecting your business?” is what we are all hearing during these very unpredictible and uncertain economic times. The popular feeling is that as a “collection agency” we must be really booming. In September, the California Association of Collectors group that we are a member of conducted a survery asking this very question of collection agencies.
Some members reported they are experiencing more inventory, but it is less collectible or the recovery cycle is longer or non-existent. There are peaks and valleys in the economy when the economy starts to boom, receipts will reflect that. Meanwhile, keep a close eye on expenses using caution when budgeting for 2009. Be flexible, look closely- there may be a diamond in the rough. Ride the wave carefully.
Sound familiar? These comments can be applied to almost any type of business or personal situation. We are here for the long haul and look forward to the cycle changing for the good. E-mail us your comments.