…but it turns out to be a trains headlight !!!

Todays U.K  GDP figures for July to September turned out to be grim news, with growth of 0.2% widely expected the actual figure was MINUS 0.4% !!! and now we are officially in the longest recession since records began.

So what can your company do to ensure survival:-

1) Review your costs on a regular basis – regular monitoring keeps everyone on their toes.

2) Introduce a regime whereby ALL purchase requisitions have to be approved by a Director. –  Its amazing how this can reduce unnecessary expenditure.

3) Get your costs scrutinized by an extenal body, its surprising what a fresh pair of eyes can see and the savings can far outweigh any consultancy fee.

4) If you are not already doing so consider outsourcing some of your key activities – but make sure you get professional outsourcing advice. The savings can be tremendous and preserve jobs in the long term.

5) If you need extra resource consider hiring interims or contractors, their contribution can have a massive impact for relatively litle cost.

Hopefully the Q4 data will be positive and we can all look forward to several years growth and prosperity.