Are You in The Best Position to Ride Out the Economic Downturn and Come Out Stronger?
Since emerging from the grips of the Great Recession in 2009, the U.S. economy has been in growth mode. After contracting sharply in the Great Recession, the economy began growing in mid-2009, following enactment of the financial stabilization bill (Troubled Asset Relief Program or TARP) and the American Recovery and Reinvestment Act.
Economic growth has averaged 2.3% annually since then, with growth reaching above 3.5% during several quarters and just two quarters of negative growth. Through November 2019, the U.S. economy has grown for 125 months without any significant decline in economic activity that would mark the beginning of a recession, according to the National Bureau of Economic Research. This puts the current expansion as the longest on record in NBER dating, which goes back to the 1850s.
But all economies are cyclical, which means at least some level of downturn is likely lurking around the next corner. The distributors that take this into account now, and that examine and shore up their cash flows sooner rather than later, will be in the best position to ride out the storm and even come out stronger.
In a new white paper launched by Modern Distribution Management (MDM), we explore the current business environment, show how it could evolve over the next year or two and provide actionable advice that all companies can use to preserve cash flow in any economic condition.
Click here to download
“How You Can Preserve Cash Flow to Strengthen
Business in a Slowing Economy” white paper.
Katie Canton has been helping companies develop and implement successful social media, content marketing, and marketing communications strategies for more than 10 years. Since joining VersaPay in 2018, she writes on topics such accounts receivables automation, Customer-Centric AR, collections management, and fintech.
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