22 January 2016
At the risk of stating the obvious… These are tough times for businesses in the North of Scotland, in particular those working in the food chain dependant on a strong oil price!As if the hangover of 2015 wasn’t bad enough, last weeks oil price dropping below $30 a barrel will have panic buttons pressed and sadly serious ramifications for many businesses across the North East of Scotland & beyond. Even well established companies with strong balance sheets are now facing challenges they had previously not been exposed to.
By now all, or certainly most, companies will have reviewed costs and operating models. Some on more than one occasion! In terms of finance that means ensuring the business has access to accurate financial management information, modelling cash flow projections in the short/medium term, considering ways to control costs along with bank lending and associated facilities. Looking at the end dates of contracts, to when the income stops rolling in.
Operationally this means a focus on current resourcing challenges. HR is an essential part of every company and now more than ever businesses need to consider cost reduction programmes, the reviewing of policies and procedures, updating staff training and the associated handbooks.
However… There comes a point when a business simply has to look forward. When the most important thing that can be done is to take time to consider the identity, shape, size and positioning of a business in the future.
Cameron Carnegie will shortly be launching a series of Seminars and Training courses with “Surviving and Thriving” at the heart of all our content. Yes, we will consider Finance and HR, but we aim to take a detailed look at Strategic Development for businesses and the advantages that can be gained by working in new areas or by collaborating with others. We look at case studies of companies who have sustained themselves in difficult times by either continually evolving, or by reinventing themselves in another sector. We outline the importance of proactive business development in driving growth, with sales campaigns being fully aligned with a marketing plan that incorporates essential platforms via Social Media.
Survive & Thrive is designed to highlight the challenges many companies are currently facing in a difficult Oil & Gas environment. It provides professional advice and remedies from industry specialists in their respective fields of Finance and HR respectively, who can talk from experience on how to best manage and develop through the current challenges.
For more information or to discuss in more detail please contact me on email@example.com