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- Jul 19, 2019
- 17
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I run an e-commerce business that is doing well, real well in fact, so it was discouraging to learn about the shut down in China, and the ripples that have come from concern about the Coronavirus. I’m trying to do my best to prepare for what I believe will be a significant downturn in the US economy. For starters, I’m reviewing for expenses that can be cut and looking to reduce my cost per unit. I’ve got great credit but usually run high balances and pay off statements each month to avoid interest, but now I’m considering carrying some of the balances to increase my cash on hand as well as looking into get another SBA loan, as I think credit will tighten up in a downturn.
Are any of you preparing in any way, to either reduce risk or to be in a better position to take advantage of a downturn? If so, do you have any tips you could share?
Thank you!
Are any of you preparing in any way, to either reduce risk or to be in a better position to take advantage of a downturn? If so, do you have any tips you could share?
Thank you!
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