Your Business and Brexit. What Next?
So the Brexit vote has happened. How do you feel? However you voted, as a business owner you will have a few questions:
- What’s going to change
- When will it change?
- What will impact my buisness and when?
- Will we have a recession?
- Will people cut back until the futurre is known?
Now is a good time to take stock of your business and ask your self these questions:
- Where am I with my business?
- Where do I want to be?
- Who is my competition?
- Where are they?
- How does their offering differ from mine?
- Does my offering reflect changing customer needs?
If you have one, now is a good time to review your business plan. If you don’t have one, now is a good time to write one. It will help you plan where you want to be, how to get there and to measure your progress along the way. Take some time now to think about the potential changes Brexit will mean to your business. Make contingency plans for these changes. Of course you can’t plan for everything, but putting some thought in now as to how you customers or suppliers may be affected, will make decision making and taking action a lot easier when the time comes. It will also help you identify when you need to take action.
If your business has been bobbing along quite happily, now is the time to take stock and think what could you do differently to add value to your offering. How have customer needs changed since you last reviewed? What are your competition doing? Looking at these areas now and thinking about the impact of Brexit will help you navigate the potentially choppy waters ahead.
If you need help putting a business plan together drop us a line – we will be glad to help you.
