Inflation has been the hot topic around the globe since the start of the year, with prices of gas, food and other necessities increasing, it is important for jewellery business to brace for economic slowdown due to inflation and rising interest rates.
In this blog, I will share 3 effective ways which KTC found to maintain your business with minimum risk during economic uncertainty
Limit your inventory - Try to receive more goods on consignment, and propose them to your clients
Short Terms - Avoid giving long credit to new clients
Look For Deals - It is the best time to buy goods at the most competitive prices as there are some companies who face cash crunch
These simple techniques can help you maintain strong balance sheet and better cash flow, making you prepared if there is economic slowdown. If this was helpful to you, please share with your friends.