Surviving The Next Credit Squeeze

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Running Time: 7:27

Date: 01/11/2011

As sources of overseas funds shrink, expect the banks to tighten up again on their lending practices.

The continuing European debt saga is restricting the pool of funds available to Australian banks, according to Michael Fingland, of business transformation and turnaround specialists Vantage Performance. That means business borrowing will become more expensive and harder to come by, so it's time to get your affairs in good shape and work out your plans. Might you have to forego your plans for growth, or sell off assets to provide working capital? And Michael stresses the need for good staff communication - their morale is important, and if they're feeling uncertain, the business will suffer too.