As we all know that we are in this recession period , I pray for god it should end quickly within 2 years of time, but surviving this period is the key for all business. Businesses which are large will have clients from various countries their cash flow will not be a problem but for small business people it is really a problem, Many small businesses will have a smaller number of clients most of them are also affected by this recession.

Tips to survive this recession period

• Reduce all your overheads i.e., remove unnecessary man power from your company this is the biggest step you can take to survive this recession. You will be spending lot of money for employees and many employees spend their time without any work and get the salary , remove newly joined or unwanted employees from the company. You need only experience professionals in your company in this recession time.
• Cut down Rent : If you are spending much for your office rent relocate to some other place, which is cheaper, and it does not matter if it is small the objective is to survive this recession period.
• Cut down Travel Expenses: Cut down your company travel expenses  if you are arranging a transport for your employees like a bus or something to pick them up, cut those costs.
• Find new ways to market your services/ products : try to increase your client base by doing what you do not normally do? I mean to think out of the box.
• Strengthen your marketing team and motivate them and set targets to achieve more business.
• Try to lower your rates , be competitive and gain more clients. Even if you do not get profits now, you will be earning more in one or two years.
• Try to ask referrals from existing clients whom you trust and have a good relationship.

If you follow these basic tips you can easily survive this recession period.