We have just come through probably the toughest 18-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 and have held off the squeeze that may follow for many. However, 18 months on and it is still a challenging market.
We have been in the eye of the storm but we are now, hopefully, exiting the storm, which will be challenging in itself, but there are a number of steps that SMEs can take to build a solid platform to help them with the opportunities and challenges ahead.
These are the 3 key areas that SMEs 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 look to the future with confidence.
We have produced a helpful guide, which can find below, 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.