Whilst acknowledging that the recession hasn’t ended for everyone in the country as some areas and some sectors are still finding the environment challenging, many businesses especially those in urban areas would say that activity has picked up quite noticeably in the last 12 to 18 months.
For some businesses this will present a whole new set of challenges as they will need to expand to cater for increased demand and in the majority of cases this will have to be funded without bank finance. Another challenge that some businesses may face is upward pressure on costs such as wages. As the economy improves, staff will seek to recover the gains which were lost during the recession through pay cuts, reductions in bonuses and overtime and through higher taxes. Now that the economy finally appears to be turning, one of the biggest risks to your business might be loss of experienced staff to your competitors. We have a solution. Continue reading Business picking up? Upward pressure on wages? Staff leaving for better opportunities elsewhere? How to retain staff without breaking the bank.→
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