1. Global economy melt down & its continuous impact on Indian SME sector by Mr. Gopalan, Empanelled Consultant, See Change Consulting Email: gvs@seechangeworld.com

2. Now, What to do for the Recovery? continues…

3. IMMEDIATE ACTION PLAN (0 – 2 months) Stop your worry and do not runaway from the picture. Stop Borrowing from all the sources with immediate effect. (2-6 months) Identify a consultant to handle the crisis Call all the lenders and discuss with them clearly about you situation and request them to reschedule the repayment terms. Also request them not to charge further interest. Plan a proper business model with the help of your consultant Discuss with employees and ask for their support

4. Meet your banker and discuss with them, that, you have already engaged the private consultant for the speedy recovery of your business and you are going to concentrate fully on business in consultation with your team of professionals(Consultants) Mention that you are optimistic for coming back in to normality within the stipulated time. (mention the period of your expected recovery and if possible, go along with the consultants & clear business strategy) which will make the banker to think in your favor, which may be helpful for preventing the unwanted action to be taken by the banker i.e classifying the asset as NPA, SARFASI) etc

5. Meet your buyers again and start the discussion for their support once again Request for advance payment from buyers and credit time from suppliers Always do keep the commitment that you have given to your buyer and suppliers. Cut all the unnecessary expenses like travelling, electricity and all other incidental expenses. Inform to your family about your position very clearly and get their support. (financially or non-financially) discuss with your consultant for the equal distribution of your profit for the liability created and listen to your consultant, since he don’t have any biased view for the liability(which you may have)