- "In the last 20 years our business has changed considerably…and as the focus of our business has changed, Bird Luckin have moved with us."
Alex Tanner, George Tanner (Shalford) Ltd - "Bird Luckin has looked after us incredibly well for over 60 years, they are pro-active and innovational - meeting all our needs to help us achieve our aims."
Richard Stubbings, Cliffords Limited - "I can honestly say that Bird Luckin are the best firm of accountants and auditors I have ever dealt with - and I don't say that lightly!"
Colin Webb, Walthamstow Stadium - "It's important for us to know that we will always be able to contact the right people to give us the right advice and support."
Jane Bennett, Bennetts Funeral Directors - "Although we deal mainly with one Partner … we also know that if we need to contact someone else who is a specialist in another area, we can get the advice we need quickly and easily"
Jeremy Ruggles, J.S. Wright & Sons Ltd - "Bird Luckin got us to a stage which would have taken us months - if not years - to reach on our own, and they got us there in a matter of weeks"
Matthew Sullivan, SNC Ltd - "You can be a good accountant, but if you don't have an understanding of the industry it can be very difficult. "There are two or three people we have regular contact with at Bird Luckin who know our business well, and it makes a difference.""
Robert Church, W A Church (Bures) Ltd - "The work which Bird Luckin has done for Boddingtons over the past few months has helped shape our future direction for the better."
John Warner, Chief Executive, Boddingtons Ltd - "Bird Luckin has acted for us since our inception 10 years ago. They have a very 'can do' yet highly professional attitude - we are very appreciative of their support and advice over the years."
Marlon Fox, Outlook Property Ltd
Protect your business against a downturn
Small and medium-sized businesses are particularly vulnerable during economic turmoil. But all too often we see companies going under that could have stayed afloat if they had taken a few elementary precautions at the right time. And the right time to protect your business against a downturn is when trading is relatively strong and you still have room to manoeuvre.
Here are seven steps you should consider taking:
- Don't rely on just one or two main accounts for the bulk of your revenue. Spread the risk by expanding your customer/client base.
- Maintain close communication with your bank and share your successes and failures with them.
- Reduce the debtor days on as many accounts as possible and accustom your customers/clients to paying promptly.
- If you have to reduce spending, do so in non-core areas of the business.
- Examine ways to carry less stock without adversely affecting your core performance.
- Don't lay off staff unless you really have to, especially those who provide ideas and inspiration. Use any downturn as an opportunity for key staff to develop new skills and coach newer members.
- The marketing budget is often the first casualty in a recession, but smart businesses continue to market through a downturn and position themselves to take full advantage of the upturn as soon as it starts.
It can help to have another pair of eyes review your position and identify potential weaknesses that need addressing before it is too late. This is something with which we have a great deal of experience.