Brexit, Recession and Success: How We Can Help Your Business
17th April 2019
With Brexit in an unstable state, we are seeing signs of the economy entering a possible recession which will see the Business Environment become more challenging. A no-deal Brexit would almost certainly see a plunge in the UK economy for the first time since the financial crisis. In this environment, only the best companies will succeed and continue to grow. As we move further into 2019, the idea of being an OK or average business will simply no longer cut it.
With the prediction of a recession in the next 12-months, Brexit seems to be bringing the inevitable forward much sooner than anticipated. However, Netmatters was founded in a recession so we have first-hand experience of what it takes to be successful during such times which means we are confident this time will be no different. With so much uncertainty for the future, allow us to assist you in keeping your business strong and successful.
"Successful companies spend more on systems not less"
Netmatters is perfectly placed to assist businesses during these times. In this environment, only strong and efficient businesses will prevail. To be efficient, businesses need to have a systematised way of working and their processes and workflow need to be tight. Automation needs to be used wherever possible to drive down service/product delivery cost to be competitive whilst making a margin that will be needed to support stretched cash-flow, i.e. slower payments from clients whilst also continuing to support marketing spending.
"Successful companies spend more on marketing not less"
Over the years, we have found that some businesses will decide to completely stop their marketing spend, in comparison to others who decide to spend more. It’s important to understand that effective marketing drives leads which are the lifeblood of a business. By cutting spending on this, you are limiting the company’s growth and putting a heavy reliance on existing clients. 20% of these clients will likely provide 80% of the profit and therefore, if any of these fail, it could have a significant impact on business viability.
"Successful companies spend more on IT not less"
IT is well placed to assist companies with moving their IT strategies forward. Bringing in flexible IT systems enables businesses to utilise a flexible workforce. By implementing Cloud technology and removing expensive server hardware, not only are you reducing costs, but you are delivering security, all over functioning, document control and reducing your carbon footprint. If you are also tapping into technologies such as video conferencing and switching to VOIP phone systems, you are going to reduce travel and overall business spend.
The process to exit the EU and the impending recession is going to take time and will likely be gradual. However, one day this will change, and therefore preparation is key. Our focus moving forward is to provide the strongest level of service to our clients throughout this process and support them with the choices they make with their business.
For more information how Netmatters can help your business to thrive in a difficult economy, call us on 01603 515007 or fill out the form below.