Well over 40 guests attended our breakfast briefing
Compered by Partner Scott Harrower, our panel included Dan Bance from University of Surrey, Phillip Vallon, employment specialist lawyer from DMH Stallard, Colin Berkeley from Santander and Rob Bryne of AXS Europe.
There was a broad ranging discussion which covered everything from employment law, likely impact of Brexit on employment, financing & working capital, importing, exporting and hiring the right people.
The key message was that with Brexit looming or not, no one knows what will happen. In these circumstances basic business disciplines (which so often get forgotten) remain critically important:
- Have a plan, and make and use forecasts
- Have processes and structures in place – so you review, each month, how you are doing – if well how can you build on that? If less so, what corrective action do you need to take now?
- Take advantage of experience – business mentors, an experienced NED – or your advisors – talk them – what are they seeing, what are other people doing, what tools/products/processes exist now to help with the unexpected?
- Pay attention to detail
- Have good management information and using it
There was a good discussion around the availability of financing. The key message is that lenders want to look at the quality of the business & the team behind it. They accept that we can’t see the future so what is the quality and experience of the team and will they have the skills to react to the unforeseen?
As local businesses we can’t control the great macro issues of the day. We can plan and prepare however and by good use of information, on a timely basis, we can react to evolving circumstances to continue to prosper.