With the business landscape changing every day, new regulations, new tax rules, not to mention political pressures, it is becoming increasingly difficult for many to have the confidence that their business will continue to thrive. And according to the FSB, some 14.6% of small businesses expect to contract, sell or shut up shop.
Key to having confidence in your business is ensuring that your financial base is as solid as it can be. For example, you may have issues with your customers not paying on time, in this case it may be wise to take a look at invoice financing. If in a leasehold property you could look to buy out the freehold, which could make your monthly outgoings drop.