{"id":85213,"date":"2024-03-01T10:51:56","date_gmt":"2024-03-01T15:51:56","guid":{"rendered":""},"modified":"2025-04-25T10:21:22","modified_gmt":"2025-04-25T14:21:22","slug":"four-things-to-do-if-your-company-is-feeling-an-economic-pinch","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/four-things-to-do-if-your-company-is-feeling-an-economic-pinch\/","title":{"rendered":"Four things to do if your company is feeling an economic pinch"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\">\n\t\t\t\t\t\t\t<span>Commercial Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">Four things to do if your company is feeling an economic pinch<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Ren\u00e9e Sylvestre-Williams<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Thrifty woman sit at table hold pen writing daily expenses in diary put coin in pink piggy bank close up.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg 2121w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/iStock-1251273788.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Four things to do if your company is feeling an economic pinch &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/four-things-to-do-if-your-company-is-feeling-an-economic-pinch\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/four-things-to-do-if-your-company-is-feeling-an-economic-pinch\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published March 1, 2024 \u2022 5 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p><strong>There are ways for business owners to weather economic bumps in the road.<\/strong><\/p>\n\n\n\n<p>Today\u2019s business landscape is tumultuous with fears of recession, inflation and changing consumer behaviour near constant.<\/p>\n\n\n\n<p>These pressures are often most strongly felt by small and medium business owners, with <a href=\"https:\/\/www.newswire.ca\/news-releases\/canadian-small-business-owners-optimistic-about-the-future-but-inflation-and-higher-interest-rates-remain-top-of-mind-893497154.html\" target=\"_blank\" data-dig-id=\"LP-85213-783d8b11\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"more than 55 per cent\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">more than 55 per cent<\/a> saying they\u2019re challenged by cost increases due to inflationary pressures or high interest rates. Other challenges include supply line shortages and hiring.<\/p>\n\n\n\n<p>Consumers are also cooling their spending according to a recent <a href=\"https:\/\/thoughtleadership.rbc.com\/rbc-consumer-spending-tracker\/\" target=\"_blank\" data-dig-id=\"LP-85213-5d6401b7\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Consumer Spending Tracking report\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">RBC Consumer Spending Tracking report<\/a>, which found that Canadians are choosing to stay home and are <a href=\"https:\/\/thoughtleadership.rbc.com\/rbc-consumer-spending-tracker\/?nocache\" target=\"_blank\" data-dig-id=\"LP-85213-42a481b6\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"reducing their spending on discretionary services and products\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">reducing their spending on discretionary services and products<\/a>. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>It all adds up to a situation where business owners aren\u2019t feeling as confident as they were pre-pandemic, Michelle Herscu, CPA and owner of MLHC Professional Corporation, says.<\/p>\n\n\n\n<p>\u201cSome of the smaller companies that work with us have decided to shut down because [of how hard it is to manage the current economic climate],\u201d she says, noting common concerns she\u2019s heard include the higher cost of borrowing money, inflation and housing unaffordability. \u201c[Some people have simply] decided\u2026 to go back to work full-time.\u201d&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>The good news is, though, it\u2019s not all doom and gloom. Because Canada\u2019s economy likely grew in December, it doesn\u2019t look like the country is in a technical recession, but economists suggest it could be in for a \u201c<a href=\"https:\/\/institutional.rbcgam.com\/en\/us\/research-insights\/article\/macromemo-february-14-march-6-2023_i\/detail#mm3\" target=\"_blank\" data-dig-id=\"LP-85213-f9d670c4\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"soft landing\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">soft landing<\/a>\u201d with <a href=\"https:\/\/thoughtleadership.rbc.com\/wp-content\/uploads\/FMM_02_2024.pdf\" target=\"_blank\" data-dig-id=\"LP-85213-1d1fed05\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"rate cuts unlikely before June\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">rate cuts unlikely before June<\/a>.<\/p>\n\n\n\n<p>Herscu adds there are also ways for business owners to weather economic bumps in the road. Her biggest advice? Analyze, adapt and innovate. Here are four ways organizations can do that.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Do a SWOT analysis<\/h2>\n\n\n\n<p>Herscu recommends businesses perform this basic analysis to identify their strengths, weaknesses, opportunities and threats as a way to figure out how to stay relevant within their industry during a downturn. Companies can use the information they find to develop strategic goals to expand or reduce production as appropriate.<\/p>\n\n\n\n<p>Larger companies may find it\u2019s the right time to acquire smaller companies at a discounted rate, she notes, while others may be able to capitalize on increased funding or government grants designed to help companies stay afloat.<\/p>\n\n\n\n<p>What one company does will vary from another; what\u2019s key is to constantly understand where your organization can and should grow based on its specific industry. Knowing your financials is also important.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Get close to your numbers<\/h2>\n\n\n\n<p>While business owners should be familiar with their company\u2019s numbers, this is a good time to get extra acquainted with them, says Jami Monte, a CPA and founder of Chillbooks.<\/p>\n\n\n\n<p>She recommends people look at their profit and loss margins monthly. \u201cThat keeps you close to [business] activities and will also help you catch any issues in the financial reporting itself.\u201d<\/p>\n\n\n\n<p>Monte also recommends looking at your balance sheet every quarter. Balance sheets show a company\u2019s ability to pay its immediate and near-term operating needs and meet its debt obligations.<\/p>\n\n\n\n<p>\u201c[This will both help you] figure out if something negative is happening [and help you make informed strategic decisions for the future],\u201d she says.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Manage your cash flow<\/h2>\n\n\n\n<p>Cash and cash flow management becomes more important during uncertain economic times.<\/p>\n\n\n\n<p>\u201cIf you don&#8217;t have cash your business [could] fail,\u201d says Monte.<\/p>\n\n\n\n<p>The data backs that up. <a href=\"https:\/\/www.fundera.com\/blog\/small-business-statistics#source\" target=\"_blank\" data-dig-id=\"LP-85213-b55a7842\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"A U.S. Bank study\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">A U.S. Bank study<\/a> found that 82 per cent of companies fail because of poor cash management. A lack of cash could lead to a company delaying payment to vendors and employees. It could also quash the ability to invest in research, development and growth opportunities.<\/p>\n\n\n\n<p>&nbsp;\u201cYou want to make sure that your business has cash reserves. Most businesses don&#8217;t really have enough,\u201d adds Herscu. In this case, looking into a line of credit or having access to a short-term loan may be appropriate.<\/p>\n\n\n\n<p>Monte says owners should be looking at their cash flow forecast on a regular basis \u2013 that means weekly or at least monthly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Get marketing<\/h2>\n\n\n\n<p>\u201c[During market slumps or recessions], it&#8217;s [actually] a very good time to make investments in marketing and advertising,\u201d even though that sounds counterintuitive, says Herscu. (<a href=\"https:\/\/www.businessnewsdaily.com\/jobs-at-risk-of-layoffs\" target=\"_blank\" data-dig-id=\"LP-85213-fbbafe20\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Many job cuts hit marketing roles first\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Many job cuts hit marketing roles first<\/a>.)<\/p>\n\n\n\n<p>This is particularly true if a whole industry feels the impacts of an economic downtown; your company could be the one to stand out against competition.<\/p>\n\n\n\n<p>Consumers, she adds, when they\u2019re feeling confident and ready to spend again, will remember your company versus another.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">In the end\u2026<\/h2>\n\n\n\n<p>Monte says that when it comes to mitigating the effects of an economic downturn, adaptability and strategic planning are key. This goes back to doing a SWOT analysis and understanding your business.<\/p>\n\n\n\n<p>She recommends that leaders look at ways to help make their employees\u2019 lives easier and more efficient. This can include automating project management so they can spend more time on clients or focusing on expanding into new, profitable markets.<\/p>\n\n\n\n<p>Finally, Monte says, it\u2019s critical for leaders to think about ways their organization could fail.<\/p>\n\n\n\n<p>\u201cI know it&#8217;s kind of a scary thing, but we always need to innovate. We always need to be ready to change with a recession or with a global pandemic. If you want to be successful in the long run, you have to be open to looking at your [business\u2019s] blind spots.\u201d<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. 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grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A pile of clothes and textiles ready for sortation. Image courtesy of Debrand.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg 3278w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/A-pile-of-clothes-and-textiles-ready-for-sortation.-Image-courtesy-of-Debrand.jpg?resize=2048,1366 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/\">\n\t\t\t\t\t\tCommercial\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/can-circular-end-of-life-strategies-reduce-cost-and-risk-in-your-business\/\" class=\"card-title h4 mar-t-0\">Can Circular End-Of-Life Strategies Reduce Cost and Risk in Your Business?<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"An employee writes a business cheque at her desk.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg 3864w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/An-employee-writes-a-business-cheque-at-her-desk.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/\">\n\t\t\t\t\t\tCommercial\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-to-prevent-cheque-fraud-and-safeguard-your-business\/\" class=\"card-title h4 mar-t-0\">How to Prevent Cheque Fraud and Safeguard Your Business<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-e0c31c73-a013-48fa-a2db-5b0f9252b9bd {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-e0c31c73-a013-48fa-a2db-5b0f9252b9bd {\n\t\t\theight: 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<\/p>\n","protected":false},"author":80,"featured_media":85216,"parent":57338,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[581,574,157,520],"rbc_content_type":[31],"rbc_audience":[110],"rbc_lob_group":[35],"rbc_difficulty_level":[70],"rbc_mmm_category":[305,386,391,324,326],"class_list":["post-85213","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-commercial-economy","tag-commercial-insights","tag-entrepreneur","tag-managing-money","rbc_content_type-article","rbc_audience-business-owners","rbc_lob_group-business","rbc_difficulty_level-intermediate","rbc_mmm_category-business","rbc_mmm_category-cash-flow-management-and-financials","rbc_mmm_category-commercial","rbc_mmm_category-managing-your-business","rbc_mmm_category-right-sized-business-advice"],"acf":{"contently_publication_id":"","custom_author":"Ren\u00e9e 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