Recent challenges faced by business include:

• Corona virus (loss demand)
• Defeat Trump (Opportunity revivals’ Wall St lost)
• Slow moving Morrison  and Boris Johnson governments on industrial relations. (no cuts labour cost or electricity industry uncompetitive)

This means small business must pick up in flat environment politicians aren’t with it yet

In addition to this we face unfair tariffs in industry in China with others sure to follow.

To counter this small business must:

1. Advertise to increase demand
2. Reduce labour costs a no replacement policy if can
3. Keep labour increase down but look after key staff
4. Have financial plan review operation regularly including improved cash flow

It’s also good idea call in see your accountant.

Terry Murphy

Accountant and More