The Institute of Chartered Accountants in England and Wales (ICAEW) has launched a guide to help businesses plan downturn survival strategies.
The “Eight ways to survive the downturn” guide, which can be downloaded at www.icaew.com, aims to provide businesses with practical help and topics to help them through the credit crunch.
The guide includes information on managing risk and uncertainty; securing funding; reviewing your structure and cost base; seeking advice and support; managing your year end; and planning ahead.
ICAEW chief executive Michael Izza said the guide was launched to improve business confidence.
“Few businesses think the recession will be short lived and are looking to take steps to ensure they get through the current economic slowdown”, he said.
“The vast majority of businesses will emerge from the downturn; however it is important to seek advice and support early, before difficulties become insurmountable.”
by Kasey Brunt
