Top 20 Tips for SMEs looking to survive and thrive
- 27th July 2020
We have just come through probably the toughest 3-months any of us have experienced in our business lives.
Thankfully, there has been support available to help us through the crisis. Government schemes including furlough and SEISS, tax deferrals and business loans, have injected money into businesses and have enabled businesses to pay their staff.
But we are now entering the next phase of the crisis. We are already seeing redundancies and businesses failing due to lack of cash. To use an analogy, we are currently in the eye of the storm. Exiting the storm will be challenging. But there are a number of steps that SMEs can take to survive this storm and build a platform to thrive in the long term.
There are 3 key areas that SMEs now need to focus on:
- Your cash;
- Your people; and
- Your customers.
Without cash, people or customers businesses will fail. Focusing on these 3 vital areas and making informed decisions will provide a platform for businesses to come out of this crisis in good shape and look to the future with confidence.
We have produced a helpful guide with our Top 20 Tips on what you need to be doing right now in your business. The guide highlights the importance of ensuring you have enough cash in the business, the key things you need to do to look after your people and steps you should be taking with your customers.
Do get in touch if we can help. We offer a free initial consultation to new businesses.
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