How to detect Distress- Check List for self-test

  1. Pressure paying creditors on time
  2. Arrears in tax payment
  3. Cash is gone as soon as it comes in
  4. Not making a profit for several months in a row
  5. Price Discounting to make the sale
  6. Overdraft at its limit or exceeding
  7. Bank refusing requests for a temporary overdraft extension
  8. Missing EMI
  9. Low stock or holding back on purchases
  10. Cutting back on staff
  11.  Continual capital/loan injection.
  12. Servicing the loan consumes a significant proportion of gross profits

Here are some more personal signs.

  1. Feeling sick or finding it hard to sleep
  2. Short-tempered and grumpy
  3. Borrowing money from family and friends
  4. Blaming others for your predicament
  5. Changes in lifestyle, habits, or appearance
  6. Hoping for breakthrough
  7. Desperately hunting for quick money

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