Much has been prophesied about the effects of Brexit, the trade war between the US and China and continuing unrest in the Middle East. All are predicted to slow-down economic growth.
If these forecasts prove to be true, should we retreat to our bunkers, cut costs, cancel new investment and pray that we don’t run out of cash, or do we take an opposing point of view?
The switch from relatively lively economic activity to a slower pace is a change, and change, without exception, offers new opportunities. So, maybe we should be reasoning out what these changes might be and see if there are business opportunities that we can exploit.
Professional advisors will not have to look too far to reason out their opportunities, as if businesses start to encounter difficulties or need help to get business fit, their first port of call should be their trusted accountants.
Firms will no doubt witness a shift in opinion as we move closer to Brexit and the rest of the world adapts to other “turbulent” issues.
Advising clients that business and personal financial fitness should be a priority to cope with possible downward changes in the market-place, should be a fairly easy sell. Even if the pundits are proved wrong, businesses that are lean and lively are in a perfect position to hit the ground running.
Informanagement will continue to include articles in our services that support this process. Time to look for the upside opportunities rather than stay under the duvet and wake when competitors have taken all the low hanging fruit.