Role of Credit in Business Discussions

It seems that we are not out of the woods yet. Every day we are hearing more and more about how we could be heading into another recession, and Canadian’s are increasingly affected by events outside our control. With S&P’s downgrading of the US credit rating, the growing debt crisis in both the US and EU and the rising Canadian dollar – it seems like a good time to start asking some questions.

As a huge exporter to the US, how are we going to fare with their weakened economy and our high dollar?

What (if any) precautionary measures are your company taking to prepare for what could be an even worse recession than the one in 2008?

What are the heightened credit risks you anticipate?

What are we doing as a profession to promote fiscal prudence and sound credit management? Could we do more?

Please feel free to comments…even if you're not from Canada