Companies should first consolidate their relationship withexisting suppliers, which can provide the cheapest loans, byputting off overdue payments, considering that one has less room tomanoeuvre where banks are concerned, and that the state'spenalising interest rates are very high, is one of the conclusionsof the seminar titled "Winning solutions in time of crisis,"organised by Ziarul Financiar and Enterprise Investors inTimisoara. After a three-year period (2006-2008), which sawturnovers rise by as much as 700% in some cases, counties inwestern Romania in turn feel the difficulties of the financialcrisis, prompting them to resort to redundancies and torestructuring in order to save their businesses. In order to dothat, companies need to also carefully manage their relationshipwith banks, the state, and suppliers, which can put an end to acompany's business. "I recommend that you steer clear of the state.It is the most harmful supplier, alongside banks, considering thepenalties it can impose and the fact that one can be held legallyresponsible for this debt. In my group of firms, we make sure thestate and the bank are paid even before the salaries," saidFlorentin Banu, founder of the BanuInvest group and of businessessuch as Artima and Joe wafers.
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