The Silent Fire: Why Businesses Need to Increase Turnover Just to Stay Afloat

Did you know…  Many businesses need to increase their turnover by up to 24% in 2023 and 2024 JUST to stand still?

In a climate where tax hikes, inflation, and cost of living affect us all, as business owners you need to work a hell of a lot harder to increase your turnover just to take the same net equivalent home.

We’re not here to spread doom and gloom, but rather to express our frustration at the lack of awareness surrounding this issue. Being proactive and devising a strategic plan to protect your income is essential before it’s too late.

Many business owners will respond with, “I don’t have time right now, I’m just too busy to take time out to plan”.

We get it! But our question is:

“What would you do if your house was on fire? Would you find the time to put it out?”

Of course you would! The recent changes are a silent fire, and we want to make to aware of it.

So how do you put out ‘the fire’? 

• Review your last year end accounts – Did your profits cover your dividends or are you eating into profit reserves?
• Make sure your current year numbers up to date
• Complete your cash flow forecast
• Look at your profit breakdown between products or activities
• Assess what you need to take home
• Set a sales plan
• Review areas of profit leaks, such as errors and losses on jobs, and get them blocked

This is just the start. Over the next few months, we’ll be sharing exactly how to do the above and more, providing you with the proactive advice you need to thrive in these challenging times.