Managing your business
Effective business management will help you cope better with economic uncertainty.
When financial challenges arise, businesses that manage cashflow, forecasting and change effectively are better prepared than those that don’t.
Whatever the next big economic change might be – whether that’s recovery after coronavirus or Brexit – having your cashflow and finances in order, and being ready for change, will help you deal with the issues that come your way and keep your business moving forward when times are good.
We’ve covered some of the most important aspects of managing your business.
Managing your cashflow
Cashflow is one of the first things to be affected in times of economic uncertainty. Whether it's your ability to make payments or your clients’ ability to pay you, knowing what’s coming in and out is crucial to your business’ survival.
Read our article outlining the importance of managing cashflow through times of change and growth, and how it can help your business prepare for both.
Finance isn’t just the responsibility of your finance team. Learn how to make it a fundamental part of your culture and the benefits your business could feel as a result.
The temporary reduction in VAT has been designed to support the hospitality sector. Learn more about the reduction and whether your business could benefit.
Understanding how your business bank account works, and its facilities, could help you make the most of what's available.
Late payments are a common problem for many small businesses. Learn how effective credit control measures can help you deal with late-paying debtors.
Business insurance can protect you from certain unforeseen risks and help you avoid possible fines. Read about the most common types of business insurance available and the cover each one provides.
Managing your staff
Your staff are your business’ lifeblood, whatever is going on in the economy. But when things are challenging and your attention is focused on survival, they are more important than ever.
Read about working from home, and employers' responsibilities, during the coronavirus pandemic.
Read about making staff redundant, and how you must manage the process properly if layoffs are unavoidable.
Understand the existing furlough scheme, when it will end and what will replace it.
Creating workplaces where workers feel safe, fairly treated and included will support better mental health and ultimately improve productivity.
Learn more about the support in place to help manage your staffing costs during the coronavirus pandemic.
Managing change
Changes in circumstances can arise suddenly. Managing change means making sure you're thorough in your process so any changes you implement are effective and long-lasting.
Read real stories from real businesses – the highs, the lows and everything in between – in a series of anonymous confessions from small business owners across the UK.
Top tips and government guidance on making your workplace coronavirus-secure and your employees comfortable.
From becoming more agile to democratising your decision making, there’s plenty that can be done to help you guide your organisation through a period of unprecedented change. Here, founders and industry experts share their key insights.
How can independent small businesses and local shops embrace this new era? What opportunities do they have and how can they come back fighting, putting the shopping experience at the heart of their business?
Practical considerations for businesses now the Brexit transition period has ended.
Additional support
Barclays outlines how businesses can improve cashflow and management to protect and strengthen their position.
With cashflow more critical than ever during the current coronavirus pandemic, NatWest has created a guide on how to improve your cash position with a cashflow forecast.
Businesses have faced extreme challenges this year. Acas can help with all your employment law questions. Use free templates, tools, training, or even speak to an adviser to get the bottom of complex workplace issues.
The ICAEW has pulled together a range of support and information for businesses affected by the coronavirus pandemic. This support covers cashflow and forecasting, redundancy and practical business advice.
Guidance on working safely during the coronavirus pandemic from GOV.UK.
Advice and guidance from Public Health England, including information around work and financial support, the self-employed, and health and wellbeing.
Regional support
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