In the doom and gloom of the recent economic downturn, it seems to be almost too easy to predict a bad year for 2009.
However, after a very successful 2008, the forwarding industry at least gets fair warning of what is coming. Those companies that have not squandered their fortunes with unwise investments or excessive profit-taking should be able to overcome the drought with careful planning. Those companies that depend on regular bank loans or have lost substantial value because of the declining stock market may be in for a tough time.
Control of cost and strict collection procedures combined with increased global sales activities will help those who apply these principles. After five years of strong growth, we are now experiencing a stretch of meager times. Hopefully, this will not last too long.