As banks are becoming more cautious with their lending habits, many independent recruiters may begin to feel the pinch.  To head off any possible crisis if your creditor decides to refuse credit or cut back on an existing credit line here are a few tips:
1.    Save cash.  Like many small businesses, recruiters often operate with very little cash cushion; but in recessionary times this is not a wise choice.  To create an effective emergency supply of cash in case of credit disruption save at least six months of operating expenses or more depending on your business needs.
2.    Pay on existing debt; but do not deplete cash to do so.  It is very important to continue regular debt payments; but do not deplete your cash reserve in an effort to become "debt-free."  Many companies want to be debt-free especially during a recession; but this may not be wise if your emergency cash accounts are not fully funded. Currently, many banks are freezing or reducing small business credit lines and if this happens to your business after you have used savings to reduce debt it could have devastating effects on your ability to operate.
3.    Invest in good advice.  Spend the cash to receive advice from an experienced and highly recommended accountant and/or business consultant.  He/she can advise you on what errors you are currently making with your business' finances.  During boom times financial mistakes are often covered by high levels of cashflow and credit but in a recession, financial mistakes can prove fatal for your business.