How to Survive a Crisis?

The fact that the crisis is coming, we are scared for a long time. Nobody knows if you need to put your teeth back on the shelf. But the majority is afraid, the reasonable in this situation calculate the benefits.

The most difficult science in the crisis is to save the accumulated. On the other hand, the crisis provides many opportunities to multiply the company's funds. Experienced know that the finances, which turned out to be earned during the period of instability, will further contribute to a powerful impetus for development.

Large companies have already strained their own departments and third-party firms that provide accounting support for the development of anti-crisis mechanisms. Attracted experts calculate the amount of free funds of organizations, which at any cost will need to be maintained. A few tips from those who already had experience of successful saving campaigns.

Stability currencies

The first thing that experts advise is to transfer the firm's free money to a stable currency. By the way, recently the euro was ousted from this list. This is logical, since a new round of crisis will hit Europe. Today, the dollar is stable, which negatively showed itself in 2008. In the list of reliable coins, in addition, swatted the Swiss franc and yuan.

However, the crisis is not accidentally considered a difficult period for any currency. And even successfully investing the company, it is hardly worth resting on its laurels. For example, in the event of a sharp fall in US dollars, it makes sense to transfer money to them.

We should also note that the availability of financial reserves, which saved the lean accounting, legal service of the enterprise in the past years and a sound financial policy, during the crisis is extremely important for the company. This capital gives an opportunity to win on the difference in the exchange rate.

Attention to the contract

Constant changes on the stock exchange may affect both the company's financial reserves and its current activities. You should be extremely careful when concluding new contracts. A number of firms that use foreign components make out transactions in foreign currency.

However, this is only half the trouble. The trouble is when during long-term economic stability a long-term contract was signed that guarantees delivery for a long time. The supplier to whom you yesterday paid the funds, today or tomorrow may be ruined. It is better to act as follows: on one-off transactions to cooperate with counterparties on a 100% prepayment basis. Long-term contracts are signed on the condition that obligations arise from the moment when both sides sign separate specifications (orders).

Payment of bills

Attentive attitude to debt obligations also does not hurt. This applies to current and already concluded deals. It's time to hurry up counterparties that have not paid off your company on bills yet.