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Tips For Beating the Downturn
With gloomy predictions for 2009, a recession, falling house prices and rising unemployment, this year is likely to be difficult for businesses large and small.
Bradshaw Hollingsworth Solicitors have some tips for businesses through trying times. We can't solve the problem, but these tips may lessen the pain:
Lean and Mean If, as predicted, the economy shrinks, most businesses will see a fall in demand for their goods and services. This may mean having to look at staffing levels within your business. Whilst most businesses will look to diversify and retrain staff where possible, redundancies are likely to be unavoidable. When a business considers redundancies, take professional advice. There may be a good and proper business case for the steps that you wish to take, but the way you go about the redundancy procedure is important.
"At Bradshaw Hollingsworth, we specialise in helping businesses through difficult re-structuring processes."
An efficient and well handled process is less likely to destroy the confidence of the staff that remain with the business.
Be Efficient Obvious really. Difficult times mean failing businesses. Your business may cope well with the downturn, but your customers may not, and if they do fail, you do not want to lose large sums of money that in turn puts your business at risk.
How can you improve the efficiency of your business?
- Get Organised: are your contracts or terms and conditions up to date?
- Credit Control: are you sending out invoices on time and chasing them on time too? The old cliche "Cash Is King" has never been more apt.
"We can update or draft your contracts and terms and conditions, and we can help with training your staff to improve credit control in your business."
- Debt Collection: get yourself at the front of the queue for payment. Bradshaw Hollingsworth Solicitors provide a specialist debt recovery package that can be tailored to your businesses needs. This includes fixed fees for Letter Before Action, and where possible, recovering the costs of our work from your debtor with interest.
"Let's us help you get your debts collected."
Bradshaw Hollingsworth Solicitors are helping businesses in Leicester, Leicestershire and nationwide on a daily basis, and if you would like to discuss how to improve the efficient of your business in 2009 and how we may be able to help you, please contact Greg Hollingsworth at Bradshaw Hollingsworth Solicitors on greg.hollingsworth@bhlaw.co.uk
Bradshaw Hollingsworth provide specialist legal advice in the areas of Employment Law, Litigation, Commercial, Insolvency, Debt Recovery, Wills & Probate and Property, including residential conveyancing, house sales, house purchases and re-mortgages. For more information about our services please contact Greg Hollingsworth of Bradshaw Hollingsworth Solicitors, 19 New Walk, Leicester on 0116 204 2500 or by email at greg.hollingsworth@bhlaw.co.uk.
Partners: Robin Bradshaw and Greg Hollingsworth - Bradshaw Hollingsworth is regulated by the Solicitors Regulation Authority.
