It’ll be a long time before we recover from the ‘Great recession’ and income growth – or rather the lack of it will be in the news for some time. With changes in employment structures and lower wages what does it mean for the small business?
Well something good that has come from this is the demand for UK products and one sector that has seen a significant rise in growth is manufacturing – especially for its green products.
Innovation is also at an all-time high which has meant that SMEs and entrepreneurs have to be more creative and think outside of the box.
And let’s not forget how pivotal social media has become for any business which means that marketing has become more important than ever.
So you could say that the recession has pushed businesses to push themselves to their fullest potential which may bring employment and wages up again?
If I have learnt anything from this, it is to prepare for any eventuality and I hope that other businesses have learnt from this too, so what do I suggest? Well having a qualified accountant is one of the most important assets of a company so make sure you get this right. An accountant will not only help you with your cash-flow and budgeting, but they can also prepare you for the months ahead so if you ever got in to trouble you are prepared.
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