Just when it seemed businesses could return to their ‘normal’ operations, the UK entered another national lockdown. If your business struggled to survive the last lockdown or you did not achieve the growth targets you wanted to due to lockdown, business planning will be the key to your business not only surviving but thriving during the second lockdown. Below we outline business planning tips for the second UK lockdown…
1. Promote from within
Reflect on the last period of lockdown and identify employees that were able to quickly adapt to lockdown challenges. If an employee was able to communicate with you clearly during the lockdown period, kept the morale of the team high and showed a great work ethic, you may wish to consider promoting these employees to team or project leader positions. Having a clear leader of a team or project will help you communicate with different teams more efficiently and boost morale for employees as their hard work is being recognised.
2. Ensure you are flexible
You should not place the future success on your company on the UK lockdown ending on the 2nd December, as it may be extended. Ensure you have an exit strategy for lockdown and a back-up plan for if the lockdown is extended. During challenging times, it is essential your business is flexible and able to react with agility to new challenges and developments.
During the first lockdown, you may have tried to keep business costs low by taking on many tasks yourself, such as organising your company payroll. During the second lockdown, your time, energy and creativity will be better spent working on your business and outsourcing accounting tasks to a reliable accounting firm. This will ensure your business operates smoothly and you can give your role the attention it deserves and needs.
Contact CWR Accountants
If you would like further business planning advice or would like to learn more about outsourcing your accounting obligations during the COVID-19 pandemic, do not hesitate to contact CWR Accountants today. If you have any questions about our services, get in touch with us today, we can help you leave the second UK lockdown in a strong and stable financial position.