Managing a business isn’t easy, as any impact from the surrounding environments could hit a company’s bottom line. When your environment changes, your strategy needs to be reviewed.
Businesses should be equipped with the right tools to flourish through the good times, maintain operations and margins during bad times and survive when the surrounding environment gets ugly.
One such example of the “ugly” would be during May 2009 when the South African economy slipped into its first recession in 17 years. This was underpinned by a global credit crunch, initially triggered by a sub-prime crisis (or bad mortgage lending) in the United States.
Emerging markets like South Africa were hit as lending became stricter and international investors pulled out of developing nations to keep funds at home.
Trading in a recession meant that businesses had two real options: 1. Make it through the difficult times through rationalisation. 2. Not ‘wasting a good recession’ by aggressively looking for growth opportunities.
Since then, sustainability has become the key theme and management has started scrutinising processes and operations. But are all the right questions being asked?
You need a business adviser who understands your business. One who really listens to your concerns and takes the time to ask the difficult questions, questions you might not have thought about. You’ll receive objective and practical advice from us, helping you to make the big decisions and to seize appropriate opportunities as they emerge.
We offer the full scale and breadth of services you will need to survive this recession, delivered in a distinctive and personalised way.
- Proactive and partner-led teams, who deliver solutions to your problems, not pre-packaged products and services.
- Integrated delivery of the best advice from across our service lines.
- Specialist services that understand businesses in distress, and can help identify appropriate solutions in difficult circumstances.
- Extensive expertise in the issues facing local businesses, combined with the global reach and resources of Grant Thornton International.
Key issues explored in the guide are:
- the big questions for your business
- identifying and breaking through funding barriers
- generating cash in the business
- keeping profits healthy
- becoming ‘leaner and meaner’
- being clear in terms of strategy and management reporting
- focusing on the business future.