Planning ahead for business success
Running a business can be difficult at the best of times, but with the current economic uncertainty at regional, national and even international levels it can make it almost impossible for entrepreneurs to plan for the future.
Whether the focus is to continue the growth of a thriving company, trying to turn around the fortunes of a declining one, or even plotting life beyond being a business owner, it has never been more important for shareholders to try to plan for every eventuality.
I can’t imagine many people would have guessed how the Brexit result would have turned out, but even less would have anticipated how much our lives have been, and no doubt will be, impacted going forward. In the medium to long term it may well turn out to be great for the country but, in the short term, key decision making for business owners will be vitally important.
The plunging sterling means any international trade will have to be seriously thought through. The role of large international organisations trading in the North of England such as Nissan and Hitachi, their plans in the region and the subsequent knock on effect, to the deeply embedded supply chain, will play a huge part in business strategy. Also, with the impending US election and possible repercussions of that result, there will invariably be significant impacts both politically and economically for us all.
Given all of these and numerous additional factors, it could be easy for an entrepreneur to “wait and see” how things play out before making key business decisions. The problem is, it is unknown how everything will settle in. Even just a year’s time, key opportunities could have been missed or, even worse, your business could have fallen into a position that can’t be rectified. The only way to maintain some control in such uncertain times is to proactively decide on your business plan and deliver it the best you can, despite any external factors.
Whether you are at the point where your company needs to obtain funding, go through a restructure or maybe even contemplating selling, despite the uncertainty in the market, business owners do have numerous options.
No matter what your aspirations, we will be able to assist you in achieving your goals. Our Corporate Finance Team are currently working on several significant transactions including major disposals, integral fundraising and complex business planning. If we can help you and your business with anything similar please get in touch, we would be delighted to help.