The pain of the coronavirus pandemic lingers and, as we head into what is likely to be a challenging final quarter of 2020 and the start of 2021, Jersey Business is urging island firms to take advantage of a Business Health Check.
Jersey Business offers the free independent service to all businesses, no matter what size or sector they operate in and wants more business owners and leaders to sign up now, rather than wait until it may be too late to take preventative action or seize any opportunities that lie ahead.
Kenny Sillars, Head of Business Advisory at Jersey Business explains: “Even though we are enjoying some freedom again, the economic environment continues to be challenging. Now is the time to assess the financial and operational health of your business. Just as you would personally undergo a physical health check, it’s also important not to just ‘hope for the best’ for your business. It’s far better to have a really clear idea of how your business is performing and to see any problems or opportunities that might be coming down the road, so you can act now.”
Jersey Business has a team of skilled advisers who can give businesses an objective overall assessment of their current position, review cash flow planning and debtor management and identify the priority actions that need to be taken now to provide resilience for the future.
“We offer practical, real-world advice”, says Kenny. “From reviewing and updating your business plan to diversifying into new markets. What the health check does is make your business fit for the future, whatever that may hold.”
The Jersey Business Six Step Health Check covers:
- Current situation: an honest appraisal of the issues and opportunities facing the business.
- Cash position: having analysed the financial position, develop realistic projections of cash flow and profit or loss, or review existing ones.
- Options appraisal: assess the options and the implications of the cash position for the business and how it operates.
- Decision time: decide on the route the business should follow.
- Action plan: develop an action plan of the practical steps the business needs to take.
- Specialist support: provision of specialist support where it is needed.
To sign up for the free, independent Business Health Check businesses should visit www.jerseybusiness.je
