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How business owners can leverage their assets during uncertain times


By Shali Manolev, Partner

11 September 2022

Animation of a business team running up cogs and pillars to get to the goal.

Small businesses are bouncing back from the pandemic, but fresh challenges are emerging including difficult operating conditions, higher fuel costs, rising inflation and higher interest rates, a recent survey finds.

According to ACA Research, difficult operating conditions will be compounded by significant challenges with most SMEs concerned about fuel costs (86%), rising inflation and interest rates (79%) and ongoing supply chain issues (78%)1. Accordingly, investment intentions have started to reverse with 25% intending to reduce capital investment and 21% marketing spend over the next 3 months.

Animation of tiny people moving business cogs, management and teamwork.

Making changes in uncertain times

Even before the pandemic, it's likely there were changes you wanted to make within your business but didn't, making now the time to act. Start by evaluating and reviewing your major assets, such as your staff, commercial premises, and equipment. Likewise, while many business owners often choose to take the foot off the marketing pedal during uncertain times, now more than ever is the time to consider ways to extend your brand's marketing reach.

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Disclaimer

The information provided in this article does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.

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