AuthorThis article is written by Andrew Anthony, business director at Savants. Its an independent advisory firm specializing in corporate recovery and corporate and personal insolvency. Archives
October 2020
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Every business has a unique way of determining success, and it is usually dependent on your expectations and objectives. However, there may come a stage where you might be uncertain where your business stands, especially amid major challenges you have no control of, like the COVID-19 pandemic. That said, it is a good time to conduct a business health check with a consulting firm that specialises in working with start-ups and SMEs in the UK.
Start-ups and SMEs are key to boosting the UK economy, but most of them are too focused on their teams, suppliers, and customers, with little room to work on the business itself. That results in minimal or lack of growth down the line, resulting in an underrated business that could eventually lag behind its competition. This is where a small business health check can be helpful. The health check for a business involves an evaluation of its critical elements. It can look into the status of your business, with perspective from an outsider who is an expert in management consulting. To get started, get in touch with a start-up consulting firm with extensive experience in conducting a custom company health check. A small business health check can be a step to improving your company’s efficiency and profitability, even during difficult times. The management consultant will work closely with you to analyse critical areas of the business, such as finance, the people and the organisation as a whole, strategy, sales and marketing, IT systems, procurement, operations, and cost reduction. After performing a health check in those business areas, the consultant will come up with relevant actionable plans. The objective is to improve your business and the performance of those areas for the long term. A company health check will involve some questions, which you must answer as truthfully as you can. That way, the management consultant can effectively analyse your current situation and recommend the best solutions that can mend certain issues and support your business development.
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Small and medium enterprises (SMEs) are the building blocks of the UK’s economy. Sadly, there is also a profound lack of funding access and support for this sector. And because of the current pandemic and many other issues that are causing economic uncertainty, many SMEs are losing money—often to the point of insolvency. If you are facing this dilemma, you are not alone. It’s time to talk to insolvency specialists in the UK to figure out what’s next.
It’s best to work with an insolvency agency in Birmingham that specifically helps SMEs that want to seek professional advice to deal with unforeseen circumstances affecting their business.
While things may seem hopeless, they are most certainly not. Many other SMEs are struggling right now—many are on the same boat as you. Consulting with insolvency practitioners in London immediately is the best course of action. The earlier you seek professional guidance to get out of this spiral, the better. Be sure to work with insolvency specialists in the UK who can provide honest and practical advice. The best ones have helped hundreds of SMEs manage unaffordable liabilities using competent, fast, and cost-effective strategies. Like many entrepreneurs, you no doubt, love your business and want to keep it going as long as possible. You may want to keep on trading in the hopes that things will eventually pick up. But there are times when doing so can get you into deeper trouble. An insolvency agency in Birmingham can thoroughly look at your company’s situation and explain all of the options available to you. They can help you comply with all the legal obligations you are currently facing while making sure that your interests are protected and that you can get the best possible outcome despite the situation.
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You work hard to grow your business and ensure that it runs as efficiently as possible. But like any entrepreneur who works “in” the business instead of “on” it, you are probably missing some problems that are right under your nose. It’s always a good idea to bring in a management consulting firm to provide an impartial perspective on things. Hiring business and management consultancy services will force you to step back and get a clearer picture of what can be improved to take your business to the next level.
Business diagnostics It’s common for symptoms of an issue to manifest long before the problem itself can be identified. Symptoms may include decreased sales, low customer retention, or high employee turnover, to name a few. Familiarity can be blind you; being accustomed to the way things have always been done can make it hard to determine the cause of the problem. This is where management consulting comes in and pinpoints the choke points that may be keeping your business from reaching its full potential. Early identification of these problems can prevent disasters that can ultimately make you lose customers, revenue, and employees. Solid planning services Business and management consultancy services can bring in a fresh perspective to help you create a roadmap to growth. The best SME consultants have expertise not just in planning but also in implementing improvement strategies— from operational changes to revamping your marketing methods—that can dramatically enhance how your business operates. Be sure to listen to their advice with an open mind. While change is often difficult, holding on the ‘the old ways’ may hold your company back from real growth. You can’t go wrong with a management consulting firm that specialises in helping SMEs succeed. The best companies can provide dedicated specialist consultants to help you with everything from general business support to restructuring to financing advice—whatever you need to expand your business.
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Contact Us If You Need Business, Financial, Insolvency, or Restructuring Advice for Your Business7/29/2020 There comes a time in the lifespan of every business where it will need reliable management consulting services for advice and support on different matters. Savants can work with your business to boost its performance through our expert advice for solving problems. Our business consulting services are delivered to you personally by seasoned advisors who can back you up and encourage long-term growth. Discerning owners of small and medium enterprises turn to us for a wide array of concerns, such as business, insolvency, financial, or restructuring advice, and we’re proud to share that most of them are happy and satisfied with our approach and recommendations.
As your business advisor, we recognise that you do not want to fail. However, you might lack the skills or resources needed for success, and that could result in financial disasters and other problems that could affect your business and reputation in the long run. We believe it’s in the best interest of every business owner to get management consulting regardless of their experience in managing and running their company. With Savant as your support, our business advisors can provide the steady influence you need along with our experience and skills to create a sound plan and bespoke strategy that can optimise your situation. We work closely with all stakeholders in your business, including the creditors, owners, employees, and your other in-house consultants or advisors. This way, we can provide well-rounded business consulting services that can prevent negative consequences of certain business decisions. We can also tailor our services to ensure that your business can move forward and continue thriving. We are confident in the quality of our management consulting and support to every business, as our team has more than 150 years of combined experience in that area. We also use that experience to bring the best possible advice to you every time. So, don’t hesitate to get in touch with us.
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When your business is involved in selling any product, it is likely to work with other businesses to acquire the parts and items necessary to build it. In some cases, you may procure ready-made products that can accommodate your brand or label. You need to make sure that you are getting the right products from credible sources that can help you save money in the long run while adding value to your business. Consulting and management services can help you with your procurement process in case it needs to be improved. You can also consider working with their business adviser for solutions that can improve your decision-making related to the procurement of goods or services.
Procurement is typically associated with a business as companies must buy goods or solicit services on a larger scale. It refers to the last act of purchasing. However, it can also encompass the overall procurement process, which is likewise important to your business as it leads up to your ultimate purchasing decision. Buying for your business will involve a lot of crucial decision-making. Still, with help from providers of consulting and management services, you can be more confident in your procurement strategy’s ability to deliver higher ROI in the long run. The procurement process is typically influenced by business standards, which are often centred by controls from your accounting’s accounts payable division. Thus, it can include the processing and preparation of the demand, as well as approval of payment and end receipt. It can also encompass supplier research, financing, inventory control, selection, purchase planning, and other aspects that may require third-party support. In procurements, the business adviser will ensure effective delivery of a return on investment within your business strategy and recommend new potential strategies or channels to enhance it further. They work with a team of other advisers who have a lot of experience and a vast network to tailor the solutions according to your unique business requirements. That way, you can easily make informed and correct buying decisions every time. |