The last recession was 'more of a debt crisis' for small business owners: Post H...
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The last recession was 'more of a debt crisis' for small business owners
The last recession was 'more of a debt crisis' for small business owners: Post House Capital CEO
Post House Capital CEO Jackie Reses sat down with Yahoo Finance's Brian Sozzi at the Goldman Sachs 10,000 Small Businesses Summit to discuss recession risks and how small businesses can navigate inflation and other economic concerns.
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The last recession was 'more of a debt crisis' for small business owners: Post House Capital CEO
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The last recession was 'more of a debt crisis' for small business owners: Post House Capital CEO
Post House Capital CEO Jackie Reses sat down with Yahoo Finance's Brian Sozzi at the Goldman Sachs 10,000 Small Businesses Summit to discuss recession risks and how small businesses can navigate inflation and other economic concerns.
Video Transcript
JARED BLIKRE: Tech valuations have been hammered as the bear market rages on, and that includes valuations for private companies such as Klarna. Yahoo Finance's Brian Sozzi spoke with prominent fintech exec, Jackie Reses, about the outlook for the sector. Reses also sits on the boards of Affirm, Endeavor, and New Bank. Take a listen to what he had to say.
JACKIE RESES: The one thing, if you're a small business, you need to pay attention to is, preparing for when things go sideways or south. And so there are two things that I would recommend a small business do. One, do the financial prep now. Make sure you run through downside scenarios so that you understand where you have weaknesses. Make cuts. Make adjustments. Do what you have to do. But be well planned.
The second thing you should do is make sure you get access to financing now when you don't need it. The best thing you could do is have credit availability, either through online technology tools or through a traditional lender. And so I would advise small businesses to go out, look for financing, make sure they know what all their options are, and be prepared.
BRIAN SOZZI: How would you compare the funding or access to capital environment today compared to the last recession?
JACKIE RESES: Well, the last recession was more of a debt crisis. Then today, it's more of an inflationary crisis. And so we've got very different dynamics today. And so the challenge facing small businesses today is that around cost inflation. So cost of staff, cost of goods, supply chain challenges. And all of that means that there's cash flow challenges that small businesses need to be more vigilant than ever in managing their cash flow.
BRIAN SOZZI: Is the economy going south?
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