Businesses advised to undertake health checks

News Article - 14 February 2008
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Firms are being advised to conduct a business health check at least once a year in order to remain profitable and to cut out waste.

Guernsey Enterprise Agency has produced a guide that includes 26 questions that business owners and managers need to ask, reports the Guernsey Press.

Proprietors need to address issues such as unique selling proposition, the quality of the firm's website and whether or not a customer survey is beneficial.

Business owners are also encouraged to consider an exit strategy to see if their firm can be turned into a retirement plan.

Guernsey Enterprise Agency said that businesses should contact them for a copy of the list of pertinent health check questions and for other advice such as designing business plans.

According to the Confederation of British Industry, businesses are observing whether the Bank of England can balance its credibility on inflation while staying alert to the risks that may impede economic growth.

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