Business costs are rising and Omicron is looming. So, how will your accountant go beyond sticking plasters?

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The pandemic has disrupted almost every aspect of the global economy and businesses are having to face up to rapidly rising prices after years of no inflation.

To-date the Chancellor has made changes he felt necessary to raise revenue without raising headline tax rates.

Yet, smaller businesses are coming up against unprecedented strain and the cost of doing business higher than ever. They are also being affected by increasing disruption to supply chains and increasing costs. So their cashflow is undoubtedly affected.

So, the confidence many businesses had been feeling as the economy continued to open up is now being tempered by Omicron, coupled with the legacy that government interventions left behind. VAT deferments now need repaying, similarly loans, staff have been brought back off furlough and rent arrears need settling. In many cases debt has been piling up and while this may have seen many companies through the pandemic, it will be a challenge for many businesses as they look to the future.

However, while your business may feel like it's covered in sticking plasters right now, at GSM we enable smaller businesses to better understand the financial position and how to use their often scarce resources in the most effective way possible for their longer term survival and to grow into larger businesses.

It cannot be underestimated the importance of having our 100 years + experience and expertise to rely on and our provision of up-to-date, reliable data that can be used to inform strategy, whatever the economy may throw at you.

To hear more about the GSM approach to balancing prudent planning with proactive accounting, contact us on 020 7935 3793