It's in the news, it's in the papers, everybody's sick of hearing about it, but the reality is that the recession is here. What are the main challenges facing local businesses, and what can they do to ride the storm of economic slow down?
Speaking to trade associations, industry watchdogs and customers, it's plain to see that the main challenges facing most local businesses are as follows:
1. Decline in customer spend at UK retail
2. Limited credit facilities for all
3. Production slow down in key production markets like China
4. Companies looking to reduce inventory stock levels
5. Factories closing, creating longer lead-times for remaining production
The likelihood is that your business has already been affected by at least one of these challenges.
What can you do to get your business through the difficult times ahead?
Below we've listed two local businesses that can help you by cutting costs and increasing profits. Both come highly recommended by their clients, and are recommended on thebestof Altrincham - the award winning directory for the best local businesses.
Skymart Worldwide
Based at Manchester Airport, Skymart Worldwide are one of Manchester's leading freight forwarding companies. How can working with them help you?
1. Skymart can increase your supply chain visibility - this means you'll be able to track your goods by means of state of the art software, from the moment they leave the factory to the moment they arrive. Why is this useful? Knowing when your goods leave the factory enables you to choose the most effective 'time v cost' method of transporting them. This can save you considerable unnecessary expenses and help you with challenges 3, 4 and 5 above.
2. Skymart provide importers with options on arrival in UK - they can assist with warehousing both short-term and long-term. The goods can go into a 'Bonded Facility' and defer the payment of VAT/duty until the goods are needed or sold. All this represents a major cash flow benefit to your business and a way to cope with challenge 1.
3. Skymart offer credit facilities to most businesses - by taking out additional insurance to cover their client's debts, they enable the importer to breach short-term 'cash headroom' issues that other freight forwarders are unwilling to take. That certainly takes care of challenge 2.
So if your business imports or exports goods to/from the UK, why not contact Skymart and see how they can help you ride the economic storm.
Tel: 0161 493 1000
www.skymartworldwide.com
sales@skymartworldwide.com
Delta Business Equipment
When facing a challenging economic time, it is essential to cut unnecessary running costs for your business. If your business has an office/offices, Delta Business Equipment based in Stockport, can help you do just that.
Delta provide a service whereby they'll carry out a free audit of your stationery and office equipment spend. Instead of offering blanket discounts on products you probably don't really need, like other office stationers, Delta can source the products you need at the best prices and thus cut your stationery spend.
With over 20 years experience and a long list of satisfied clients, Delta could be the necessary remedy your business needs to cut unnecessary costs. So why not contact them and make use of their free stationery audit?
Tel: 0161 480 1222
www.delta-gb.com
sales@delta-gb.com
We hope the above suggestions can help your business cope with the challenges of the economic slow down. If you have any helpful suggestions of your own, please let us know, we'd love to hear from you.