Arrowpark is a family run business with a team comprising accountants, small business owners, finance directors, marketing and IT experts. We understand firsthand what it takes to run a business during these uncertain times. We understand that to succeed it is imperative that the business owner and director needs to look after themselves and their staff. Without happy and healthy talent, our businesses will not survive.
Leveraging the vast array of technology at our disposal allows us to adhere to the Government’s lockdown advice by working remotely. We have had to adapt quickly and become more flexible than ever before. We want to share our experience with you, advise on what works and what doesn’t.
Understandably, so much focus has been on the digital aspect. But what about when the lockdown starts to stop…what next? How do we plan to ensure the sustainability of our businesses? There is no cookie cutter approach that will work for everyone, but there are some key principles that apply to all:
- Protecting the lifeblood of your business – cash. Managing your cash, spending every penny as if it were your last.
- Realistic budgets – it is crucial to examine forecasts. Whilst optimism is a motivator and a marketing tool, the pandemic means that the focus for many has become more about surviving the short and medium term than profiteering.
- Overhead reduction vs generating new business and retaining talent – this may sound like a contradiction! We are not professing it to be easy but believe that it is about:
- going back to the roots of our business and remembering what we did at the start when we did not have much cash.
- creativity – boost morale with key staff in innovative ways, use social media and less expensive marketing routes.
If you need additional help, Arrowpark can help you source government grants/relief (free money), qualify for reduced rate funding, recover debts and produce much needed cash flow. Please contact us, there is no downside.