The Government and various respected authorities on the subject of the economy predict a massive 12 – 14 plus percent economic growth in the next year or two. That’s twice what we have historically considered a boom growth value of 6 – 7%. Great news if its to be believed, however, it is really difficult for many SME’s to feel much of that right now and coming out of the Covid Cloud of uncertainty is a huge and daunting task for any business.
A year and a half ago, there was a sense among business owners that we were, to a degree, all in the same boat and not much could be done about it, however, there is nothing more scary than to be told by Paschal Donoghue et al that there is a massive boom happening and you either do not feel it, do not feel prepared to ride the wave, do not have the resources, the cash flow, the marketing / advertising budget to take advantage of it, or maybe even the staff you need to cope with it if it does come to pass. FOMO anxiety ( fear of missing out ) on a grand scale and a whole bag of new worries and stresses.
One of these concerns, in rising from the ashes, is cost control which can easily spiral quickly out of control while you negotiate a whole new set of changing variables and unwritten rules while at the same time with fewer resources than you were used to having pre-Covid.
Sandra O’ Connell, The Sunday Times Business Correspondent, who has been writing about Small and Medium sized business for many years, is acutely aware of this and has written a good article in last weeks Sunday Times about the subject. And of course it would not have been complete without a few paragraphs on Contra 4 Business and it’s role in helping SME’s control costs and cash flow in the coming months and years.
See the full article HERE