Financial checks that every business should carry out when costs are rising
NEL Fund Managers has been established in the North East for 33 years and makes investments from £10,000 to half a million pounds in local businesses that have plans for growth. CEO, Jonathan Luke, outlines some of the actions that businesses can take to help mitigate the impact of the current cost of living crisis.
For many businesses, the effects of Brexit, COVID, the war in Ukraine and the energy crisis have created a perfect storm, with rising costs of borrowing, supply chain issues and people and skills shortages.
It’s making it more difficult for many businesses to plan and continue with their growth plans. But there are things that businesses can do to put themselves in as strong a position as possible.
