Company Formation

If you're looking for a UK Company Formation service we recommend using Simple Formations. Straight forward advice and no hidden fees.

Reposition your business during the downturn

As the credit crunch bites and the fears of a recession become reality there is much talk of reduced spending by companies, businesses, individuals and families. However, reduced spending does not mean no spending. During a downturn people shift their spending, they do not simply stop spending.

Instead of staying at a city centre hotel a Travelodge on the edge of town may be preferred. Previous shoppers in Waitrose or M&S may start to use LIDL or NETTO for some of their household supplies and food.

Test peoples loyalty. Potential clients may have stuck with their existing supplier for years. Now may be the time to prise the customers away from their overpriced preferred supplier. Review any previous contacts to evaluate whether you could renegotiate a deal that would save them some money.

Consider the market that you are currently operating in. Is there a budget section or Niche that you could fill? If people in your industry are looking to save money, what supplies or services could you provide that would benefit their business and reduce their costs? Perhaps it is time to reconsider your product or service and reposition your business.

Read our Business Blog for regular updates about finance, the economy, news of interest and related stories.


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