“Right now is the best time to plan…there’s a lot of financial implications when the economy gets tighter, especially for small businesses…your cash flow might be impacted because the people that you’re serving might be paying you a little bit slower than you’re used to. Because of this, you might need to extend your credit line or get a credit line. What you don’t want to do is find that out at the end of the month when you’re going to miss payroll. If you sit down and take some time to plan…than you can be ready ahead of time and perhaps layoff people.”

The podcast is put out by SBTV, a non-profit that offers free advice to small business owners.

The Monk.