Cambridge Cluster

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Andrew McTear, founder and partner of fast growing business rescue and insolvency experts McTear Williams & Wood, has six top tips for surviving the credit crunch:

– prepare or update your business plan

– maintain up to date management information

–  cut costs as soon as you can

– focus on cashflowAlan Woodall of

– check your terms of trade

– take your chance and register on IP-Bid.com to add customers, key personnel and other assets.

All this is reinforced by Alan Woodall, self-proclaimed “gdb (general dogsbody)” and managing director of Bird’s, a Birmingham based haulage firm with 126 vehicles.  Bird’s owns all it’s depots and vehicles and has no borrowings or overdraft.  Woodhall says watch outstanding bills and keep talking to customers.

You certainly do not want to end up like the the receiver of Boringham Hall near Plymouth.  He took eleven years to sort out the receivership as the bank had a charge over the property and investors in the limited company which owned the Hall had personally bought all the furniture and fittings.   As ever, only the legal types were the winners.

Richard May, owner of private language school English in Chester has been through a few recessions and says deliver quality to your customers and work bl**dy hard – “I certainly remember the very, very long hours that we put into it (in the last recession)”.