Surviving the Downturn - Advice for the Small Business

Surviving the Downturn - advice for the small business.

Whether the recession is coming to the end or extending into 2010, it can feel hard for a small business.

What the sharp entrepreneur will do, though, is to turn the situation into an opportunity!

A recession is a good time to look at every aspect of your business and ask yourself a number of critical questions:

Q. Are you getting maximum benefit from your advertising?

Online adverts can cost a fraction of the traditional local newspaper display advert. Review your advertising spend and make sure you get the maximum "bang for your buck".

Q. Are you still providing the same service or range of products you did when you first started?

Review your offering - stop doing those things which no-one has asked for in the last couple of years. Think about your competitors - what gives them an edge?

Q. Be honest - are your skills a little rusty? A bit traditional?
Most local colleges offer short courses which would help you sharpen up your act.

Q. Do you need to invest in new technology? It may seem crazy when things are tight but things are difficult for suppliers too so you may be able to cut a good deal!

Q. Are you making the most of local networks to get good deals and contracts for your business?

Make technology work for you by linking your website to websites covering your area (just like ActivFareham!)

Fareham has a great reputation for exploiting gaps in the market and new technology. Did you know that the Royal Albert Hall was made with bricks, known as Fareham Reds, made in the area with local clay? Henry Cort, one of the founding fathers of the iron industry, did much of his early work in Fareham. In modern times, the town has embraced modern technology and boasts many hi-tech IT businesses such as Novatech and many significant players in defence related industries, such as Eaton Aviation, BAE, VT Group. Such a thriving climate gives great opportunities for the small business.

Fareham has one of the most business friendly environments in the South East.

Key to this are the business parks which are such a feature of the area.

Whiteley - situated on the Fareham - Winchester border, the park is set in beautiful woodland. Its landscaped boulevards are home to many major corporations such as Zürich Insurance but there are plenty of serviced offices for the smaller business; Wallington - close to the heart of the town, and next to the M27 motorway; Palmerston Business Park - easy access to Fareham and Gosport; Speedfields - a major retail park including Asda, Wickes, Home Base and small industrial units; Kites Croft - a new development, close to the A27; The Tanneries - small units in historic Titchfield village; and Castle Trading Estate - in Portchester, close to the Portsmouth border and near Port Solent.

Whether your business supports the domestic or commercial market, Fareham has the right environment for you!