This checklist is designed to give guidance to businesses on how they can manage through difficult times. Difficulties can be caused by external factors such as a fall in consumer sentiment, rising fuel prices, customers moving to competitors, difficulty accessing finance or increasing interest rates; or they could be caused by internal factors such as poor risk management, failure to manage cash flow properly or because of a margin squeeze.

Regardless of the causes, small businesses need to take action when the going gets tough. While there is no single cure-all, there are many steps a business owner can take to manage through the difficult times and position the business for future growth.

This checklist provides some tips and suggestions.