How are you coping with the significant rise in the cost of doing business?

With the plethora of ongoing price increases that we are all facing at every turn, our business finances are being stretched but so to those of our customers.

As customers we can choose between essential and discretionary spends but is it proper to adopt the same approach for our business?

First and foremost we need to ensure survival – continuing to support our clients as well as our staff and of course ourselves.

Have you considered how best to create the financial resilience to ensure that, at the very least, you can ride the daily peaks and troughs we all encounter?

Have you created a survival budget?

Do you know what your essential and non-negotiable costs are?

Do you know how much you need to earn to just breakeven?

This could apply to our business as well as our domestic situations.

Using your survival budget as a starting point will provide a basis on which to make those critical financial decisions.

If you need help with creating a survival budget let’s have a conversation.