With considerable uncertainty in the UK economy as a result of the coronavirus pandemic, many businesses will be feeling anxious about their future. However, the UK government has taken unprecedented action to provide financial assistance for businesses and their employees to see them through the coming weeks.
Business support and information from government is available here: https://www.businessspport.gov.uk/coronavirus-business-support
Information on accessing grants and business rates support is available from Stockport Council here: https://www.stockport.gov.uk/business-rates-support-measures
While things will difficult in the short term, now is a perfect opportunity to prepare your business for better times ahead. Stockport accountants and business advisory firm, Hallidays, outline how your business can benefit from having robust systems in place to help guide your business through challenging periods.
Systems are vitally important to focus on during challenging times, such as the coronavirus. Good systems not only increase the value of a business, they protect and improve the business making it more robust and easier to manage. They also provide clarity and can offer reassurance to your team.
Many businesses are currently needing to adapt very quickly to unprecedented levels of change. With huge increases in people working from home whilst juggling caring responsibilities, social distancing and disruptions to supply chains, adapting your systems has never been more important to ensure that your businesses is operating as effectively and efficiently as possible.
With good systems, you and the decision makers within your business will have more time available to focus on responding to the challenges ahead.
Systems help prioritise what is Important and Urgent
A Time Management Matrix is a quick and easy tool for prioritising the actions of you and your team and identifying where new systems are needed. Prioritise what is ‘Important and Urgent’ when you are under pressure and introduce systems that will make these various activities efficient and effective. Remember videos can be an effective and practical way to train your team on new systems, particularly when people are working more flexibly.
Challenging times often generate new ideas and opportunities. You and your team will be testing your systems like never before and will have lots of useful suggestions for improvements. Using the matrix, you can prioritise working on the ‘Important and Urgent’ systems. Ask your team to record down their ideas for any other systems and when the immediate pressures have eased time can be planned to review and improve these.