Hi
This week I have read two articles from very different authors both of which made me realise that - as it says on the wall at EC HQ - there is no status quo; in business you are either growing or shrinking. There is no standing still. And if you are not growing, well....
The first article was by Simon Wolfson the
chief executive of Next who said:
Government at every level from local council to parliament has unwittingly chipped away at our nation's ability to grow over the past 25 years. The relentless flow of regulation....is steadily undermining investment.
And this from Nigel Botterill, chief executive of the Entrepreneurs Circle:
...no one is more passionate about the cause of entrepreneurs than me. Let's face it without us it's all over. For everybody. Think about it. If
we all slept for a week collapse of the economy would be complete. The fact is we effectively carry the rest of the population on our shoulders - because we create and organise and deliver, whilst others consume.
A bit extreme?
Well no. In the past four years while the FTSE's profits have fallen by 30% their dividends have risen by 25%. They are not investing, not growing.....so they must be shrinking.
Which is great news for entrepreneurial businesses. Now, as never
before, is the time to seize the opportunity and the markets open to us. This calls for us to take risks, invest and innovate. Most businesses in your sector won't be doing this.
Will you?
It isn't as hard as you think and if you'd like a little help here are the 17 things
you must do to get ready to grow.
...and then give me a call.
To your success.
Noel Guilford
PS I am aware that raising finance is still a problem for many small businesses. Three of my clients have told me so this week having been turned down by banks and organisations who don't get that this is just the time they should be lending to entrepreneurs who
want to grow their businesses. You'll hear more from me on this in the coming weeks.
Noel Guilford is the principal of Guilford Accounting a small business accountancy practice specialising in advising owner-managed businesses on current accounting, finance, and tax matters. You can reach him via email at noel@guilfordaccounting.co.uk or by phone at 01244 660866. He is the
author of the best selling book 'Figure it out - an entrepreneurs guide to understanding your business numbers' which you can obtain by visiting http://guilfordaccounting.co.uk/figureit out.
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