Isn’t business life stressful enough? Uncertainty in the global economy, profit warnings, Brexit and Trump! These are some of the issues that can cause headaches for any business owner and employees. Businesses right now are having to make big decisions.
Homebase share price
Homebase’s Australian owner, Wesfarmers, is considering closing up to 40 stores, putting 2,000 jobs at risk. The decision is made following disappointing results as the company is expecting losses of £97 million. Many companies are forced to cut their costs to keep going. B&Q, a rival in the DIY sector, has also stated they will be cutting 200 head office jobs. Most of the retail sector seems to be suffering from the increase of online purchasing. The stress of restructuring to keep apace of the rapidly changing business sector must be resulting in the increase of hair loss treatments!
With a volatile global economy and share prices dropping due to profit warnings and uncertainty, no business is immune. TalkTalk’s share price is on freefall this year as the telecom’s group said it expects a key measure of profits to be between £230m and £245m, a significantly lower figure than its forecast made in November when anticipated profits measured between £270m and £300m. The need to cut costs is important but maybe more important is to increase turnover as well as profit.
During times of uncertainty, you need to be reassured of certainty and stability. Credit insurance can support you with this. A well-managed credit insurance policy run by CMR will guarantee your business to grow, stay stable and increase your profit. Credit insurance ultimately pays claims against customers who do not pay their invoices because of insolvency or default. There are many more benefits including the ability to check your customers’ financial situation, debt recovery costs reclaimable as well as the possibility to enter new markets to increase your growth.
For more information on credit insurance and how CMR can support your business in its effort to increase both its turnover and size, please do not hesitate to get in touch. If you already have a credit insurance policy, why not find out about the CMR difference. We pride ourselves on our quick response to queries, professional competence in credit insurance and our personal approach to business.