With all the uncertainties in the economy, the next few months will be crucial for businesses, their directors and employees.
Here are a few things I would recommend that every business owner should be considering now…
- If you have built up debts during this Recession, you want to try to ensure that these are not going to hinder your future growth and profitability.
- Interest rates have been 0.5% for over a year and they will go up at some point. So be prepared – especially for any increasing mortgage payments.
- One of your customers could go bust. So try to make sure that you are not over-exposed to any one customer.
- Some large companies are being very tough on their smaller suppliers. So be aware of any attempts to delay paying your invoices, for whatever reason.
Don’t bottle-up your concerns about your business or any Personal Guarantees.
If you don’t want to discuss it with your partner or bank, for example, give us a call on 0800 195 6768.
You can discuss your situation in a free and no-obligation meeting.
We help businesses, sole-traders and individuals deal with their financial issues.
We would work with you (and your business advisor) to help you and your business in these turbulent times.