Champion Round-Up | 27th October

Written by Ged Cosgrove, group managing partner

As each new day emerges, there is breaking news that has the potential to impact all our lives in both a professional and personal capacity. Of late, we’ve heard musings of a recession, there have been fluctuations to interest and inflation, a (not so!) mini budget, which triggered unprecedented action from the Bank of England, plus government tax U-turns – not to mention a new PM and a subsequent change in Cabinet… and all the while, business leaders are expected to focus on the wellbeing of their teams during a cost of living crisis and run operations in the face of rising costs themselves.

All of this is a lot to cope with. But I want to take this as an opportunity to say that you can get through these challenging times. I know this because you’ve gotten through every challenge you’ve faced before, and that there are different paths you can take to make life easier.

When so much of what is causing hardship is based on financials, it’s more important than ever to monitor your business costs and work with our expert team to identify areas to free up capital or streamline operations. We’re not just accountants; we’re business advisors, and that requires keeping our finger on the pulse of initiatives and innovations available to our clients to make savings. For example, I visited a client recently who’s strategically invested in different energy reduction programmes and, as a result, has managed to reduce energy consumption by 31%. It’s time to think creatively, step outside of the usual mould and find new ways of doing the basics of business.

And, of course, we can’t reflect on recent weeks without acknowledging the passing of our late sovereign, Her Majesty Queen Elizabeth II. It has been a privilege to be ruled by such a level-headed, committed and forward-thinking monarch, and to witness the way in which the country responded to the news after her death.

Huge respect must go to our armed forces who, in the weeks following the Queen’s passing and on the day of her funeral, demonstrated professionalism unlike anything many of us have ever seen before. They put on one of the greatest ever shows of patriotism, and I am sure I speak for many of us when I say we are very lucky to have them.