Recovering from the holiday season can be a difficult time for many businesses too. For example, firms in the services industries will inevitably forego two weeks of turnover, whilst still incurring costs. Wholesale businesses will go from peak to trough as their customers have no desire to purchase new stocks until they have released the cash tied up and sitting in the warehouses and stores.Unfortunately, this year many others may have simply been affected by one off-costs or disruption resulting from the weather and flooding. Businesses within an ecosystem of supply and demand cannot be fully insulated from those around them, nor can the ecosystem itself be immune from macro-economic ebbs and flows and political grandstanding. From a macro-economic and political level, mixed messages are being delivered and some may be viewed as negative:
- Another ?25bn of austerity cuts on the horizon;
- A potential 15 per cent increase in congestion charging in London; and
- An expected increase in the cost of British Debt.
- Interest is said to remain at 0.5 per cent (BoE Base Rate) for 2014;
- The latest British Chamber of Commerce survey is full to the brim with encouraging statistics;
- Growth appears to have been greater in 2013 than first announced; and
- The confidence of the SME demographic is increasing.
- Identifying potential growth markets, strategies for growth and funding required;
- Identifying areas of the business that can be made leaner;
- Considering if your present business model is still appropriate;
- Analysing the working capital cycle and your costs of capital;
- Undertaking an analysis of your key markets and of those around you;
- Budget setting and financial forecasting; and
- Developing an effective marketing strategy.
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