Surviving a Downturn

From a business owner’s perspective, whether Maine’s economy is in a recession or not is somewhat immaterial. Like sailing the Maine coast, managing a small business in Maine’s challenging economy can be difficult even during the best of times. In the midst of an economic downturn, however, the activity becomes essential and doing it well is often the determining factor between staying afloat and going under. Whether good times or bad, businesses often find themselves in the middle of a cash crunch and need to know how to steer the business back to ‘safe harbor’.

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