Turbulent times for businesses and consumers
Turbulent times The current turbulent political landscape is having a detrimental effect on the confidence of UK businesses and consumers. Recent surveys indicate that August saw a dip in confidence for both businesses and consumers with confidence draining away as the Brexit crisis deepens. Consumer confidence A survey of consumer confidence from market research company […]
The current turbulent political landscape is having a detrimental effect on the confidence of UK businesses and consumers. Recent surveys indicate that August saw a dip in confidence for both businesses and consumers with confidence draining away as the Brexit crisis deepens.
A survey of consumer confidence from market research company GfK showed its joint weakest result since the middle of 2013 indicating that people are becoming more pessimistic about the economy as the uncertainty surrounding what will happen post Brexit deepens. All the survey’s components, including the outlook for personal finances and the economy, declined in August.
The Lloyds bank Business Barometer slid to 1% from 13% in July, its lowest level since December 2011 when Britain was still struggling to recover from the global financial crisis. Britain’s economy shrank in the second quarter and although this was linked to a hangover from the stockpiling done ahead of the original March deadline to leave the EU, a contraction in this quarter would officially herald a recession.
Lloyds stated that business confidence declined in every region of the UK, although the fall was steepest in the East Midlands which is particularly reliant om manufacturing. The worry in manufacturing, which makes up approximately 10% of the economy, is that a no-deal Brexit would impact their supply line, and this is coupled with a general slowdown in the global economy.
Economist Peter Dixon has said that these surveys may indicate that the anticipated rebound in the third quarter may be more muted than expected.
Protect cash flow
What this means for businesses in this country is that they have to be as prepared as possible for whatever lies ahead after October 31st. This means ensuring that cash flow is protected and that systems are as robust as possible to maintain stability within their business.
One way of doing this is to partner with an expert in the fields of credit control and debt collection. Poor cash flow and unrecovered debt are major contributors to the death of many businesses and ensuring you protect yourself as much as possible is prudent.
Experts in credit management
Daniels Silverman is an expert in both of these fields and works in partnership with a wide variety of business sectors to ensure that invoices are paid on time and do not become debts and that any monies owed are collected in an ethical and responsible manner without damaging a businesses relationship with its clients.
Every client has a dedicated account manager, so you always deal with someone who has a good understanding of your business, client relationships and your business needs. We don’t ask to be paid for work we haven’t done and so will not ask for money up front, we only expect to be paid on results, and our credit management service is priced by the amount of invoices you require us to collect and not by commission, putting you in control of your spend.
We have a great reputation, built up over many years of excellent service to our clients, as professional, ethical experts. Don’t let cash flow or debt problems build up to the point that your business is in trouble. Whatever the size of your business, we can help. Call us today or visit the website to chat to one of our staff to see how Daniels Silverman can help to support your business through these uncertain times.