Three-fourths of U.S. economists see a downturn by 2021, but there are already downturns happening in countries across the world. The vast majority of CFOs across the globe predict their economies will be in recession by the end of 2020.
In this perspective, you’ll read about the top five working capital threats companies are facing. Failure to tackle these threats could result in unnecessary hardship, while those that overcome them now will be well-positioned to gain market share during the next downturn.
No matter what economic environment you are experiencing, these are the top five priorities you and your team should focus on to thrive and grow regardless of economic conditions:
- Diversify both short-term and long-term funding strategies beyond commercial lending
- Optimize working capital to mitigate risks tied to tariffs and trade policies
- Overcome the negative impacts Brexit will have on supplier bases
- Mitigate cost increases in logistics in order to invest more in revenue growth
- Meet demands for transformation while helping your suppliers do so, too.