A free online tool has been launched today (16th June) to help small and medium sized businesses check their resilience to any downturn that hits the UK.
The Self Assessment Business Diagnostic has been developed by business transformation firm PI Consulting.
It’s a five minute online questionnaire which examines how a company is performing in five key areas of business, then awards a percentage score.
Any business with a low score is very poorly prepared, and at high risk of not making it through any serious economic downturn.
You can use the diagnostic free at www.piconsulting.org.uk.
PI Consulting has offices in London, Cambridge and Nottingham, and helps clients drive growth and boost profitability.
Its managing director Vincent Bryant said: “Economic downturn is a serious threat to businesses. But right now there is a huge opportunity to identify weaknesses and fix them, just in case things get any tougher.
“The Self Assessment Business Diagnostic is there for business leaders to challenge strength in 5 key business areas, highlight hidden problems and prioritise the areas they must develop to avoid serious setbacks.”
By analysing responses to a series of questions, the diagnostic examines five key areas:
• Strategy and direction
• Financial controls and use of management information
• Strength of customers and markets
• Operations and supply chain
• Employee engagement and motivation
The tool is completely confidential, although businesses can opt to send additional data for anonymous analysis and reporting.
Vincent added: “During testing of the tool we found that even businesses that score highly in the diagnostic discover weak areas within their operations they weren’t aware of. This kind of specific information is invaluable to avoid setbacks and maintain a competitive edge.”
NOTES TO EDITORS
• For any further information or to arrange an interview, please contact Vincent Bryant on 01223 929017, mobile 07715 704863, or email email@example.com
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