Eight ways to survive the downturn

Eight strategies to help directors and their advisers manage through the recession

  1. Manage risk and uncertainty
  2. Think cash
  3. Secure your funding
  4. Review your structure and cost base
  5. Seek advice and support early
  6. Manage your year end
  7. Recognise the value of employees
  8. Plan ahead

 

The economic outlook

The ICAEW UK Business Confidence Monitor in November 2008 showed that confidence had fallen for a sixth consecutive quarter to its lowest recorded level since the survey began.

Few believe that this will be a short recession. The underlying causes mean that
it will take some time to restore confidence and most commentators are predicting that it will be 2010 before companies begin to see any real signs of recovery.

 

Challenges and opportunities

Previous experience suggests that those companies which act decisively and are quick to respond to changing circumstances will emerge stronger and fitter at the end of the recession.

For most businesses an economic downturn represents a challenging time: for some it will present new opportunities.

The issues and questions raised in this guide will give you practical help and topics to discuss with your advisers.

They are relevant to businesses of all sizes, listed and non-listed, and to all sectors – private, public and not for profit – who are facing the challenges of the recession.

 

Useful links and downloads