The surviving challenging times theme has plagued small businesses for longer than they care to remember. Perhaps it is high time for the introduction of a brand new theme such as positioning your business for an economic upturn. Whatever the business, it is prudent to take advantage of any foreseeable economic improvement, no matter how small.
Commenting, Gerald Irwin of Sutton Coldfield based Licensed Insolvency Practitioners and Business Advisers, Irwin Insolvency said, “Certainly one of the hangovers from a struggling economy is the continued availability of historically low interest rates. Therefore, in order to plan for future growth, it is well worth considering pursuing loans or other financing to lock in those bargain levels. It is really a question of looking outside the box, there is funding available for the right initiatives. Although the overall climate is likely to be more hospitable in coming months, it is wise to remember that competitors will also be ramping up their efforts to make the most of a better economic environment.”
There is always a tendency to be negative about economic performance. However the latest data suggests that rather than flat-lining as many would suggest, the economy has been regaining momentum. There is now real optimism that bank lending will indeed revive as growth continues to strengthen during 2013. In fact, the monetary foundations are already in place for a sustainable economic recovery.