Despite the challenges, you need to plan ahead

#BusinessPlanning #BusinessChallenges #ProactiveAccountancy #BusinessAdvice

What are the challenges facing businesses today?

Here’s just a few of the biggies:

• Sound financial management when income is unpredictable and time is in short supply - who has time to analyse cash flow, profit margins, overheads?

• Managing demand peaks whilst planning for unpredictable lean times;

• Prioritising international markets when trading relationships post-Brexit remain unclear;

• Keeping ahead of competition that’s now global, and which could be unexpected and disruptive;

• Meeting customer needs that are changing rapidly; where instant gratification is expected and displeasure shared online for the world to see;

• Finding the time to turn the mountain of information into ideas and good decisions;

• Deciding whether to embrace new technology that may be obsolete tomorrow, or be a follower and risk missing the boat;

• Taking risks and innovating when access to finance is hard.

The unprecedented amount of change and uncertainty in the world at the moment makes it incredibly hard to make plans for the future. How can you think ahead when you’re juggling issues like these?

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It's vital for businesses to plan for the future

Every successful business has a business plan.

It's vital that businesses take time out from the day-to-day fight for survival in order to plan for the future. Why? Because how can you hope to take advantage of the emerging and changing needs of your customer base if you haven’t taken the time to think about it? How can a business manage the risks, when the risks haven’t been identified or planned for?

The global economy is potentially up for grabs for agile businesses that have planned ahead and which can move quickly. These companies have a huge advantage over both the unprepared and the slow-moving monoliths encumbered with high costs and legacy solutions.

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Get in touch if you need help

We can work with you to develop your business plan.

There’s literally tonnes of advice online about how to put a business plan together. However, if you need help, get in touch. We’re very good at asking lots of awkward questions which will get you thinking about where you want to take your business and how you’re going to get there. We can help you identify threats and opportunities that you may not have considered - sometimes, a business simply needs a fresh perspective.

Get in touch

We would love to chat to you about your business!

We have extensive business experience and many years of helping small businesses to implement better financial management and business plans, leading to improved resilience, profitability and growth.

Electric-Accountancy.co.uk

Proactive accountancy and great business advice

01526 354072

rebecca@electric-accountancy.co.uk

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