Managing your business
Effective business management will help you cope better with economic uncertainty.
When financial challenges arise, businesses that manage cash flow, forecasting and change effectively are better prepared than those that don’t.
Whatever the next big economic change might be, having your cash flow 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.
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Managing your finances
Having a full picture of your financial situation is crucial, not only in times of economic uncertainty but from day to day. Learn more about managing typical costs and expenses and help your business stay on top of its game.
Learn what cash flow is, why it matters, how to manage it so your business can better succeed, and the benefits of a cash flow forecast.
As a small business, keeping on top of your finances as you seek to grow is essential. Here are some important things to consider.
Late payments are a common problem for many small businesses. Learn how effective credit control measures can help you deal with late-paying debtors.
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.
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.
Lowering the insurance premiums you pay will benefit your business overall. Learn tips on how to cut the cost of your business insurance.
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.
Find out about the new business rates revaluation and action your business may need to take to ensure it's paying fair business rates.
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.
Understand the existing furlough scheme, when it will end and what will replace it.
Read about working from home, and employers' responsibilities, during the coronavirus pandemic.
With chit-chat by the coffee machine a distant memory, managers are finding new ways to guide and motivate their teams.
Read about making staff redundant, and how you must manage the process properly if layoffs are unavoidable.
Creating workplaces where workers feel safe, fairly treated and included will support better mental health and ultimately improve productivity.
As an employer, you need to be aware that the hourly rates for the National Living Wage and the National Minimum Wage increased from 1 April 2021. Employees underpin every successful business, and it is right that they receive a decent wage. Find out more about what this means for you.
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.
From creating an online presence for the first time, to keeping in touch with customers via social media, businesses have had to change the way they work. Learn tips on adjusting to business life after the pandemic.
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.
Practical considerations for businesses now the Brexit transition period has ended.
Additional support
How mastering cash-flow management could help boost your business and give you peace of mind. From creating a plan to useful tips and resources, here’s how to stay on top of your cash flow.
With cash flow more critical than ever during the current coronavirus pandemic, NatWest has created a guide on how to improve your cash position with a cash flow 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 cash flow and forecasting, redundancy and practical business advice.
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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