TOP tips to survive the recession, according to delegates at the Entrepreneurs’ Forum event, include:

Cash is king: Stalled cashflow is widely seen as a significant contributor to company failures - up 98% in the North-east last year. Have a rigorous debt chasing process in place and reduce risk to cashflow by demanding some or all of the payments up front.

Beware expansion: Capital-intensive growth can heighten risk of over-leveraging. Devise a debt management structure that spreads repayments and keeps the balance sheet looking healthy.

Train to gain: Spend time training up staff when the order book is low. Niche, high-tech engineering firms say they need top-level skills to capitalise on an economic recovery.

Buy low, sell high: Plummeting values mean that now might be a good time for entrepreneurs to invest in property development or new

machinery.

Stay positive: Bosses can boost workplace morale and productivity by offering non-cash incentives such as dress-down days.