SAMPLE BLOG USED FOR TESTING SITE FUNCTIONALITY
It’s OK chaps, the recession is over! At the start of February, there was an official announcement that Britain had achieved positive growth and was therefore, officially, slightly, a bit out of recession (I believe it has to be for three consecutive quarters before the Whitehall corks pop).
So now we are in the dangerous bit. A large population of the SME sector – and some bigger businesses who should know better – will be assuming that they can dust off the old recipes and go back to business-as-usual. ‘We are through the recession’, they will say, ‘everything is heading back to normality’. The lurking danger is the reality that more small businesses are likely to fail – and fail spectacularly – in the bounce-back, that they did when the recession started.
One cause of the likely celebratory attrition will be over-trading. This is the phenomenon where businesses become over-enthusiastic and take on more orders that they have working capital to deliver them.
The bigger ‘gotcha’ though, will be that assumption that business has somehow turned a full circle and returned to the same position that it was a few years ago. If that were the case, then by doing everything the way that you did before the recession – perhaps a little harder – would produce the same results. In the absence of visionary leadership, this may well be the default strategy for many small businesses.