Looking for cracks in your business

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Firms can fail to forward plan when they are ready to take the next step forward, to seize a new opportunity or step up a gear – putting them on the back foot

In the heady times following the setting up of a new business, beyond the signing of contracts few really take the time to step back and examine the firm, says Adam Bernstein – and look for structural weaknesses that could bring it to its knees

Experience has shown that there are plenty of opportunities for business-levelling events to happen to those within transport, whether through rising fuel costs damaging profitability (which forced Yellow Star Travel, trading as Burtons, to cease trading in June 2011); a dispute with a landlord (as happened to Greys Hire which subsequently went into administration in May 2015 owing £1m); or changes in family circumstances (which led to Just Travel suddenly ceasing trading in January 2018). […]

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