A number of people have contacted me since my August article about the credit crunch, asking whether my cautious optimism as to the likely impact of the crisis in our sector has changed. I now want to offer practical advice on what operators might do to reduce their risk.
Will people have the money to spend to perpetuate their life style? My own view is probably not. So my first piece of advice would be to monitor very closely your bad debt position. We all know this is a very sensitive point, and no-one in our sector likes to exclude a child from nursery because of non-payment - especially if non-payment is due to yet another bureaucratic muddle in the tax credit department.
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