Recession increases Financial Information Requests

I have recently had more requests for financial information about my company. This trend is disturbing and I believe it is a result of the recession. My advice to business owners is try to get out of it. If you have a vendor or supplier that wants financials and has done business with you in the past, tell them to forget it. If your past history has been good then why should they need financials. The vast majority of small business is privately held. Therefore there is no reason to show the public your financial information. In the information age protection of privacy is paramount. There are many out there that want to gain leverage by exposing your financials. Hold the course, resist. Until next time be careful out there and know your risks. K

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