Inflation Advice

With inflation being the highest since 1981 we will share with you how to cope as a business owner. Interest rates have been hiked to fix inflation, but economists now fear this could trigger a recession. The lifting of interest rates is intended to balance demand with supply. Due to the effects we suffered from the pandemic, governments around the world have tried to focus on cooling demand as a means of controlling inflation. If you run a business, it is now time for you to gather your financial history from the past three years and get a handle on your current numbers such as your monthly expenses and loan repayments. You should also consider re-evaluating your pricing strategy, and cutting your expenses to preserve cash in your business. To plan ahead, we recommend that you build 12-month projections to monitor your cash flow position. As always we are here to help you prepare and plan for your business as inflation rises! Need help? Reach out today! #inflation #business #help #accounting #economy