Business Guides
As a business owner you are constantly faced with decisions that will affect the future of your business.
We have developed a number of free business guides to help you think about the issues you face and provide a helping hand through the economic downturn.
Read our free business guides
Our online guide provides comprehensive guidance to help you prepare and reap the benefits of the upturn.
In difficult economic times, taking some time to assess your position and plan your response can help your business tackle the challenges more effectively - and may well reveal some hidden opportunities.
Keeping costs under control is a vital part of business management. Cutting your fixed costs has an immediate positive effect on the profitability of your company, and in difficult times low fixed costs can mean the difference between remaining profitable and going out of business.
Getting the best possible deal from your suppliers is a key part of running a successful business because the lower your costs, the better your bottom line. But it's also important to remember that cost isn't everything: quality and reliability of supply are also factors that it's sensible to take into account when dealing with suppliers.
Tips and advice to help your business weather the downturn - and ensure you are well placed to take advantage when the outlook improves.
Even in less turbulent times, it is important for businesses to regularly assess themselves and question how they do business. Identifying areas for improvement is not only necessary for maximising profits but might also be vital to survival.
Working capital is the money that a business needs to operate in the short term, and is what helps it grow and sustain profits in the long term. Without investing in working capital, your business might not be able to trade or return a profit, but over-investment can lead to cash flow problems. Read how to get the balance right.
While business leaders often cut advertising budgets during a recession, the loss of customers can be damaging in both the long- and short-term. Rather than simply cutting advertising spend, now is the time to look at more cost-effective ways of reaching your target market.
Simply slashing prices to boost your sales may do more harm than good in the current economic environment. Business owners need to look at pricing strategies that see them through the difficult times without hurting long-term profitability.
The current economic turmoil means that customer needs are changing dramatically. Adjusting your product or service in response to those changes is the key to seeing your business through the downturn.
It is important you have a clear understanding on how strong your business really is. That's why we have developed a guide which walks you through some key business ratios and will highlight good and bad trends in your business so you can take immediate action.