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Steering your business through a recession

Resources to help you steer your business through difficult economic times.
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Latest on steering your business through a recession

Read our latest features and articles on coping in difficult economic times.
Economic update: why the recession may soon be over
  • Article
  • 08 Apr 2024
The UK’s recession appears to be ending with cuts to summer interest rate likely. ICAEW’s Economies Director Suren Thiru discusses the key points to watch.
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Chart of the week: Retail sales
  • Article
  • 28 Mar 2024
Our chart this week looks at how retail sales have increased by 19.5% over the past five years, comprising a 1.4% fall in volumes and a 21.2% increase in prices.
Fiscal deficit still too high for comfort
  • Article
  • 25 Mar 2024
Only a small improvement in the year-to-date deficit of £107bn reported in the penultimate monthly public finance release for 2023/24, over the same period a year ago.
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Chart of the week: Core inflation
  • Article
  • 21 Mar 2024
The Bank of England Monetary Policy Committee held interest rates constant at its latest meeting, despite CPI falling to 3.4% in February and core inflation dropping to 4.5%.
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Chart of the week: wage inflation
  • Article
  • 14 Mar 2024
Our chart this week takes a look at how average earnings have risen over the last decade and how they compare with the headline rate of inflation.
Outlook for public finances broadly unchanged
  • Article
  • 07 Mar 2024
Chancellor cuts national insurance again but defers difficult decisions on public spending until after the general election.
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Webinars

Untangling the events and impacts of 2022
  • Podcast
  • 15 Dec 2022
In this Insights In Focus episode, we review the major events of 2022 and their contribution to ongoing economic uncertainty.
How will quantitative tightening affect the UK economy?
  • Podcast
  • 30 Nov 2022
In this Insights In Focus episode, we explore the Bank of England’s recent policy switch from quantitative easing to quantitative tightening.
Surviving the cost-of-doing-business crisis
  • Podcast
  • 04 Oct 2022
In this Insights in Focus episode, we discuss the major challenges facing UK businesses, including energy costs, recruitment and retention of staff, and wage inflation.
Recession? What recession? Time for business to stop worrying and start investing
  • Podcast
  • 18 Jul 2022
In this special edition of Insights In Focus, Iain Wright, ICAEW’s Managing Director, Reputation and Influence is joined by Kitty Ussher, Chief Economist at the Institute of Directors, and Suren Thiru, ICAEW’s Director, Economies.
The pain – and potential gains – of rising inflation
  • Podcast
  • 14 Jul 2022
In this episode of the Insights podcast we analyse the latest news from the world of accountancy, business and finance.
Digital assets and inflation issues
  • Podcast
  • 28 Feb 2022
In this ICAEW Insights podcast, we speak to Jamie Bartlett, author and presenter about the importance of digital assets. Sunday Times Economics Editor and author David Smith then discusses the conditions that have created the rising inflation we’re seeing in the UK.
More webinars

Business press

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.
Exclusive How to succeed in volatile times
  • Article
  • 01 Mar 2024
  • Karen Harris, Austin Kimson, Dunigan O'Keeffe
The case study of the Texas-based supermarket chain H-E-B and its quick reaction to the pandemic is used as an example of how to adapt fast. We've now entered a new era, say the authors: a time of post-globalization, capital rationalization, spatial dispersion, shrinking workforces, and dependence on automation. They suggest a three-part strategy approach for this time of volatility, integrating capabilities for prediction, adaptability and resilience. Companies should map exposures, develop scenarios, allocate capital and track signals.
Exclusive Weaker UK retail data puts risk of recession back on table
  • Article
  • 18 Dec 2023
  • Tom Rees
The threat of a recession looms over the UK economy as weaker retail sales data may lead to a downgrade of previous GDP estimates. The UK's near-term outlook ranges from tepid growth to a minor recession. However, there are signs of potential recovery, such as easing inflation, real wage growth, and improved consumer and business confidence.
Exclusive China cuts tax on stock trading for first time in 15 years
  • Article
  • 18 Sep 2023
The Chinese government cuts stamp duty to boost investor confidence as the country faces a real estate crisis and an economic slowdown.
Exclusive Should companies launch new products in a recession?
  • Article
  • 01 Sep 2023
A look at the pros and cons of launching new consumer products during a recession. The authors explore how products introduced during a recession perform, examine how the severity of the recession can impact the product's performance, and scrutinize whether the timing within the recession matters. The authors' research included analysing 8,981 product launches in consumer goods categories within the UK from 1995 to 2012.
Exclusive A company reinvents itself in sign of hope for Japan
  • Article
  • 24 Aug 2023
  • Winnie Hsu, Sano Hideyuki
The huge conglomerate Hitachi became a symbol of corporate Japan's slide toward mediocrity when it got into difficulties during the global financial crisis and posted the biggest loss ever by a Japanese manufacturer. Yet the company has since undergone a turnaround, revamping its strategy to focus on growth and making its board more international and independent.
Exclusive Investing in growth through uncertainty
  • Article
  • 01 Jul 2023
  • Ranjay Gulati
When faced with industry disruptions or recessions, many companies instinctively focus on cutting costs to maintain profitability. But that is short-sighted, says Ranjay Gulati, Professor at Harvard Business School. Instead companies should make smart reductions in certain areas while also investing in new capabilities that allow them to emerge stronger. He provides examples of this from Alaska Airlines, financial services firm Edward Jones, digital media company Firefly and dining chain Panera Bread.
Exclusive How AI and automation can streamline procurement
  • Article
  • 25 Apr 2023
The article explains the role of artificial intelligence (AI) and automation in streamlining procurement, reducing costs and dealing with economic slowdown. Topics discussed are the need to build a single version of procurement data and standardize all information into a unified system as part of automating the procurement process and the potential capability of generative AI, machine learning and the digital ecosystem to make autonomous purchasing decisions.
Exclusive How AI and automation can streamline procurement
  • Article
  • 25 Apr 2023
  • Cliff Saran
The article explains the role of artificial intelligence (AI) and automation in streamlining procurement, reducing costs and dealing with economic slowdown.
More articles

Articles and books in the ICAEW Library collection

To find out how you can borrow books from the Library please see our guide to borrowing books.

You can obtain copies of articles or extracts of books and reports through our document supply service.

Support from caba

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caba is the charity for Chartered Accountants, supporting past and present ICAEW members, ACA students and their close families from across the globe through everyday situations to exceptional life-changing circumstances.

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Further ICAEW resources

See the following ICAEW Business topic pages for a selection of online books, articles, guides and useful links:
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Costing
Driving down costs without damaging the business. Find out more about cost management and cost control.
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Leadership
Learn how to become an effective leader.
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Restructuring and turnarounds
Resources to help your business through restructuring or insolvency interventions.
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Risk management
Resources to help you manage risk and carry out business continuity planning for your organisation.

External resources

Business support: managing in difficult times
  • ACAS
ACAS guidance on managing your workforce during times of change, providing free advice on employment law and best practice.
Insolvency 2023 guide
  • Chambers and Partners
The Insolvency 2023 guide by specialist law publishers Chambers & Partners features over 40 jurisdictions. The guide provides the latest legal information on the various types of voluntary and involuntary restructurings, reorganisations, insolvencies and receiverships; out-of-court restructurings and consensual workouts; secured and unsecured creditor rights; international/cross-border issues and processes; and the duties and personal liability of directors and officers.
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