Managing Your Business Through Tough Times 30 August 2011 Leon Loganathan Partner Darwin Palmerston Casuarina Parap Alice Springs Gove.

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Presentation transcript:

Managing Your Business Through Tough Times 30 August 2011 Leon Loganathan Partner Darwin Palmerston Casuarina Parap Alice Springs Gove

What’s the ‘goss’ around town? Inpex is coming but it’s not 100% yet; Everyone is holding off until then; The property market is stuffed; Too many units for sale; Developers can’t get finance; Banks are making it tough for everyone; Cashflow is tight and debtors are blowing out past 60 days.

What does your business look like? Are you diversified enough to weather the storm? Are you running a large overdraft? Are you having trouble getting paid? Are you involved in litigation? Do you have a large workforce? Are you paying your staff and contractors on time?

Managing your business Stick to what you know:  Not the time to be betting the company  Take calculated risks Get good professional advice Develop strong relationships – particularly with your customers, creditors and service providers Don’t stick your head in the sand – tackle problems head on and get good advice Keep staff informed – they too have a stake in your business

Thank You Darwin Palmerston Casuarina Parap Alice Springs Gove