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 the EU exit – 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 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.
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 employer responsibility during the coronavirus pandemic.
Read about managing staff redundancies and how you must manage them properly if they're unavoidable.
Understand the existing furlough scheme, when it will end and what will replace it.
Top tips and government guidance on making your workplace coronavirus-secure and your employees comfortable.
Practical considerations for businesses as we near the end of the transition period with the European Union (EU).
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.
Guidance on working safely during the coronavirus pandemic from GOV.UK.
Information on how to give your customers peace of mind that your business is COVID-secure, including how to share safety measures and communications.
Guidance and advice on statutory sick pay for employees as a result of coronavirus, and how employers can claim it back.
Advice and guidance from Public Health England, including information around work and financial support, the self-employed, and health and wellbeing.
View the latest coronavirus information and advice from the NHS.
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.
The SBC is an independent public body set up to tackle late payment. If your business is struggling to reclaim payment, the SBC could help you get paid.
Regional support
Enter your postcode to find business support and case studies from businesses within your region. You'll be taken to our interactive map.
