IRIS Exchequer’s own brand of pain relief to help deal with the credit crunch
The British economy is said to be growing at its slowest rate for 3 years and Bank officials have admitted that its forecast for growth is consistent with the possibility of a brief and shallow recession.
With expansion in the first quarter of 2008 recorded at just 0.4%, compared with a rise of 0.6% in the previous quarter, few now expect the Government's official estimate of growth in a 1.75% to 2.25% range to be achieved. Most independent observers put the growth rate much lower, some as low as 1% this year.
In the current climate of uncertainty, risks need to be controlled and preparation is vital. Although there are many famous quotations on this theme, we particularly like the following by Henry Ford. “Before everything else, getting ready is the secret of success.”
IT and software is levelling the playing field and providing any size of business with the capabilities that have until now been the sole preserve of large organisations.
We are not trying to suggest that the following measures will bring instant ‘pain relief’, but we are confident that by incorporating a few of the following measures, your business will be fully prepared, with the appropriate tools in place to maximise efficiency, improve productivity and achieve success and you will be well placed to deal with the impact of the credit crunch.
Top tips to alleviate the pain of the credit crunch
1. Keep your finger on the pulse - closely monitor what matters most to your business
Consider implementing a user-definable dashboard which displays key performance indicators (KPIs) that are vital to your business, linked to an everyday business application such as Microsoft Outlook. With a presence on over 450 million
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