in the UK

RECESSION

Prepare Your Business For The Upcoming

COVID-19, BREXIT AND HIGH DEBT LEVELS HAVE AFFECTED NEARLY

EVERY BUSINESS 

HOW CAN YOU PREPARE YOUR BUSINESS?

01.

LEARN PROM PAST EXPERIENCES

History is known to repeat itself, learn from the survivors of the last recession

AVOID DEBT AND CUT EXPENSES

02.

Think twice before taking out any loans. You should also reduce the operating costs of your business. You may be able to save on:

- Rent and facility costs - Production costs - Transportation costs - Personnel costs

LOOK AT THE CASH FLOW

03.

Try have more cash reserves a available. Collect receivables and offer credit carefully, making sure to check a client creditworthiness before offering credit.

HANG ON TO YOUR CUSTOMERS

04.

Customers are the most important asset for your business. Without them there would be no business. Remind your customers that you are there even during the hard times.