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Businesses can take steps to Keep afloat during tough times. (Construction Mississippi).

Publication: Mississippi Business Journal
Publication Date: 24-FEB-03 		Format: Online - approximately 1110 words
Delivery: Immediate Online Access

Article Excerpt
While homebuilding continued on a rapid pace with 2002 setting records for the number of homes sold in the U.S., other types of construction in Mississippi have slowed down due to a less-than-robust economy.

Mississippi builders report there is less work out there, and more competition for the work that is being bid. There have been some layoffs, and these are definitely days when many construction companies are tightening their belts. It's a time to keep an especially sharp eye on the bottom line.

"Businesses are watching their expenditures more than ever," says Ron Applewhite, CPA, president and CEO of Home CPA Group. "They are more conservative with what they spend. They are also keeping a closer eye on their receivable balance because many businesses have noticed a significant slowdown in payments on accounts receivable."

Applewhite said it is important to keep up with clients behind on paying their bills. You have to be aware of the possibility of clients going out of business.

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