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UK Recession: Business Support from TurnerWarran

The headlines this week have been about the economy being in recession for the first time in 11 years, as the UK suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession. The economy shrank 20.4% compared with the first three months of the year.

This is not really a surprise to anyone – as household spending dived as shops were ordered to close, while factory and construction output also fell.

But there is some good news – The Office for National Statistics (ONS) said the economy bounced back in June as government restrictions on movement started to ease. On a month-on-month basis, the economy grew by 8.7% in June, after growth of 1.8% in May. We do expect growth to continue, although some sectors of the economy will not recover as fast as others. It will take time for the retail and hospitality sectors to get anywhere near where they were in March. 

To find out more about which industries have been affected most economically, and for a general overview, head to the Office for National Statistics website.

For all of us in business: now is the time to be flexible and resilient with planning forward. Some of our clients have already repurposed their businesses and pivoted into new areas, these businesses are now seeing signs of recovery, and what is clear to us is the need to take time to think about new ways of doing business. Please talk to us about our planning resources to help you think about your future, we are here to support you!

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Our Business Support Sessions

Our business support sessions are a planned series of sessions to support you in developing your business. We listen to your issues and provide constructive feedback and ideas.

They can be monthly, quarterly or six monthly.

They are ideal for…

  • Business owners that have little other support. Employees come to you with their problems but who do you go to?
  • Those needing a fresh pair of eyes to suggest new ideas – most great ideas come from those outside of the immediate business!
  • Helping you focus on working ON your business, not IN the business
  • Anyone who needs to set time aside to focus on key business issues

The sessions can be used to cover any or all of the following…

  • Review of management accounts and information
  • Business strategy
  • Comparison of where you are in relation to goals
  • Business growth and marketing ideas
  • Employee issues
  • Cost saving strategies
  • Tax saving ideas and queries

An agreed action plan is formulated from each session that we produce for review of progress at the next business support session.

Our Business Growth Services

Our business growth services include…

  • Setting goals and an action plan to get you where you want to be
  • Removing the blocks that are stopping you from getting where you want to be
  • Benchmarking against other businesses in your industry – do you know how you compare to the best and the average in your industry
  • Getting the systems in place to allow your business to grow
  • Performance monitoring including use of key performance indicators
  • Marketing strategy
  • Unique selling point development
  • Customer service systems to help WOW your customers
  • Pricing strategy – have you tested what your optimum selling price is?
  • Lead generation systems
  • Sales conversion systems
  • Reselling systems
  • Raising finance to allow you to invest in growth
  • Improving the potential of your team members
  • Measuring and testing everything so that you can continually improve

Next Steps

Please contact us if you need further advice, have any questions about our services, or would like a free consultation or a fixed quote.

Our Additional Resources

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