The devastating news that has swept across the steel industry this week has produced an emotional response and call for support from Government to help those workers that will be impacted.
Beyond the immediate pain for employees there will be SME business owners that have supported the steel industry over many years and now is the time to consider what the impact could be for your business. If you are in the steel industry supply chain now is the time to:
- Assess how much of your business is dependent on the sector and other businesses that operate within it.
- Check you are in full control of monies due to you.
- Look at the implications for your future sales/order book.
- Identify and access alternative markets and customers.
- Look at the finance lines you have in place to help you through a choppy period.
Now is the time to take action and prepare a revised strategic plan to get you through 2016 and to calmer waters beyond.
If you need help with this, get in touch for a free business health check.