With the Institute of Chartered Accountants having revised its business investment forecast for the next twelve months sharply upwards – a predicted growth rate in investment of 8.2 per cent in the spring has now been revised to 8.8 per cent – it is clear that there will be substantial contracts in the offing for many businesses.
Although this represents good news in principle, the 'recovery phase' of the economic cycle is always the most risky as companies seek to finance greater working capital requirements and cash flow is normally tight.
It is the ideal time to make sure that your terms and conditions of trade and any other agreements you have which can impact on your ability to manage your cash are dusted off and reviewed as part of your process for controlling commercial risk.
For advice on this topic, contact us on 0121 698 2211 or fill in our online enquiry form.
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