Editor's Letter

Excerpt from: {see} Digital Magazine - Issue #5
Published: January 8, 2009


By: Brian Bradley, Editor

There's no doubt about it, these are tough times for just about anyone in business. When tough times hit the big guys hard, the small and medium-sized enterprises almost always feel the blow. In this installment of {see} we're taking a look at the issues affecting you and ways you can ride out the economic storm.

In the world of managing credit and business risk, we've had one big change that coincided with the economic crisis... the deadline for complying with the Federal Government's Red Flags rules, designed to prevent identity theft, has been pushed back to May 1, 2009. So if you had no plan and don't know where to start, or if you've just been too caught up in making ends meet to worry about it, you can breathe easy and get some quick and easy steps to get compliant by the deadline.

Also in this issue, we take a look at credit and collections during an economic crisis. It can be hard to keep up with your own bills when your customers are having trouble keeping up with theirs. We spoke with experts in origination and collections to get some simple tips that you can implement today to get, and keep, your business' credit offerings on track.

We also spoke with an HR expert about hiring practices for a down economy. With so many qualified people out there, it's a buyer's market, but there are a lot of people out there with many pitfalls. The more desperate the job market becomes, the more likely people will say and do anything (including lie on their resume) to get a job. We'll help you sort out your background checking to be sure you hire right.

Finally, we end on an up note. The economy may be on its ear, but not everyone is behind on bills. There are millions of Americans that are not participants in the credit crisis, since they have little or no credit history upon which a traditional lender can make a credit decision. Yet, around the country and the world, people are finding ways to extend credit to more people without taking on undue risk. We took a look at some smart and innovative strategies people are using to build credit histories in order to manage the risks of lending money to this large segment of Americans that can work well to grow your business in today's economic climate.

Read The Original Article and More Inside {see} Digital Magazine

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