It's pretty clear now that we're heading for another crash. Greece will default on its debts with consequences for the rest of the world ranging from bad to catastrophic.
What should we be doing as businesspeople to prepare for this? We've already cut all the costs we can and are repaying debt as fast as possible. Are there any other measures we could take to prepare ourselves?
Are there any business sectors that could do well in this scenario? Insolvency practitioners, you might think. But, Lehmans aside, they haven't been as busy as you might expect recently. Banks are reluctant to crystallise losses by putting their clients into insolvency proceedings.
Patterns of consumption and business buying are bound to change, but in what direction? I don't have any answers, but we should be thinking about this and be ready to adapt strategies quickly. I'd welcome any thoughts or ideas.
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