The Challenging Times Support Hub

Clear goals and vision

Free tool – Strategic Planning Checklist

Free tool – 5 Minute What If Scenario Planner

Free tool – One page business plan tool

What is my business worth?

‘Navigating the Staffing Crisis’ Series

A spin-off series dedicated to helping you as a business owner through the staffing / recruitment crisis and skills shortage in the UK. In each piece we will delve into the various solutions and strategies to help your business.

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Sales, customers and upselling

Get rid of won’t pay customers who do not value you and have conversations with can’t pay customers

Review your debtors list and chase up (or delegate to one person) overdue invoices

Review your sales and upselling strategy

Review your marketing strategy

Articles and free tools to help you

Coming soon – We will be writing more guidance and producing free tools soon.

7 steps to turning leads into customers

How to create an digital marketing strategy

Pricing and contracts

Check your terms of business contain explicit payment terms. Consider upfront or on completion payment terms

Review your list of products and services

Consider the need to increase your prices?

When did you last review your pricing strategy?

Articles and free tools to help you

Coming soon – We will be writing more guidance and producing free tools soon.

Should I increase my prices due to inflation?

Are you giving customers too much choice?

Cash flow and cash management

Assign responsibility to one individual for invoicing and collections

What levels of cash reserve does the business have?

Prepare a cash flow statement to know where your money goes

Prepare a short term cash flow forecast

If appropriate, review banking facilities and discuss future needs on raising finance

If appropriate, review banking facilities and discuss future needs on raising finance

Carry out a personal cash flow forecast

Articles and free tools to help you

Free tool – 5 Minute Cash Flow

8 tips for better cash flow management

4 Credit Control tips for Businesses

5 ways to raise finance for your business

Core data

Perform a health check on your accounts

Make sure you are reviewing your figures/ management accounts monthly

Do you know your break-even point?

Establish your key performance indicators (KPI’s)

Review and flow chart the main processes in your business. Challenge the need for each step

Review your tax efficiency

Articles and free tools to help you

Coming soon – We will be writing more guidance and producing free tools soon.

R&D – why aren’t you making a claim?

Costs

Agree extended payment terms with all suppliers in advance (if applicable).

Find out how

Create an annual budget

Use ‘bottom up’ budgeting – target a 10% cost saving

Look at reducing your personal expense

Articles and free tools to help you

Coming soon – We will be writing more guidance and producing free tools soon.

Budgeting for and managing seasonal trends in your business

Staffing and resources

Review efficiency of business processes

Review your staffing needs over the next few months

Support and advise staff on how they can fill their money gaps.

Consider the impact that inflation-beating or matching pay rises may have on your bottom line

Review your wellbeing policies, benefits packages and employee contracts

Do you need to consider redundancies, if the worst-case scenario happens?

Consider how the impact of the current tough times impacts your employees mental health

Articles and free tools to help you

Coming soon – We will be writing more guidance and producing free tools soon.

Reducing your employees’ hours

Offshoring Success Story