Survive until 2025 (Part 2)
Owing to current economic issues many businesses have adopted the adage “Survive until 2025”. As mentioned in our previous post there were grounds for this guarded optimism, but on 14th August we saw the Reserve Bank drop the Official Cash Rate (OCR) to 5.50%, 4 months earlier than predicted by most economists. This move has elevated the mood of many businesses from guarded optimism to actual optimism.
What does this earlier-than-expected drop in the OCR mean? It means that there is a very high probability of two further drops prior to Christmas!
What’s more, inflation has dropped to 3.30% and the unemployment rate has increased to 4.3%, thereby making it easier to fill vacancies. When you combine all these factors, it means that the forecast economic conditions are looking much brighter for many businesses in 2025.
So, if 2025 really is going to be the light at the end of the tunnel, we have only just over 4-months to prepare for it, so many businesses will need to take action and put plans into place to enable them to hit the ground running when the new year rolls around. Whether you want to be ahead of the pack or just take advantage of the improving economic climate and have a very good 2025, then now is the time to start putting your business plans into place.
Some businesses will not have either the experience or resources to do this, and that is where Into the Blue NZ Limited comes in. We are experts in both Business Planning and Business Reviews. We can also suggest and help implement the required training and business changes to help you enter 2025 if not running then at least at a fast jog.
It is our experience from using our Rapid Profit Radar Diagnostic that many businesses are not adequately prepared for either economic downturns or upturns. Fortunately, we are experts in rapidly identifying and finding usually simple solutions that will not only help your business cope during economic downturns but also facilitate for rapid growth during economic upturns. So, if you want to hit 2025 at pace, get in touch with us now.
And we’re not afraid to put our money where our mouth is because, if you engage us, Into the Blue offers most mature businesses a Zero-Risk policy… No Improvement – No Fees.
For more information please either reply to this post or email profit@intotheblue.co.nz
For more information on creating or improving a business model please call John on (021) 625-871, and further more information please visit Into the Blue.
