Building Financial Resilience – An Introduction

At JP Rata, we have years of experience supporting businesses in both challenging times and times of growth. Our long standing productive relationships with business owners mean we can confidently advise that truly understanding your business, will lead the way to financial success. Part of understanding your business is knowing there will be financial bumps in the road, and planning for these, that’s where financial resilience comes in.

This article will introduce you to the idea of financial business resilience, and give you links to helpful videos we have created on this subject. Following the success of our Building Financial Resilience webinar as part of the Somerset Business Resilience Series run by the Somerset County Councils, we are offering 10 free two hour coaching sessions over the months of March and April 2023. See below for further details.

What is business resilience?

Simply put, business resilience is the capacity to withstand and recover in a changing business environment. Our director, Jon, uses the analogy of an elastic band. If a business is resilient, it is able to snap back quickly. When things don’t go to plan, a resilient business is able to get back on track easily and stay on the track when times are tough.

If you are reading this and thinking that your business is not snapping back like an elastic band, don’t panic, that’s where we come in. We have the skill to improve the elasticity of your business and increase your businesses capacity recover quickly. 

Building Financial Resilience – Free Coaching Sessions

JP Rata are pleased to be providing ten businesses with a two hour coaching sessions, free of charge. This is your chance to get expert, personalised and invaluable business advise without spending a penny.

The workshop will cover our six key components of business resilience, with each session one tailored to focus on the area that you can make the biggest improvements:

  • Making a plan
  • Building cash reserves
  • The money making machine
  • Customers
  • Suppliers
  • Employees

We have been commissioned to deliver this training by the Five Councils of Somerset and the sessions are available to businesses within the Somerset Council area, with two or more employees.

Sessions must be used during March or April 2023 and we only have ten to give away, so act quickly to avoid missing out. 

Get in touch now, by email, phone or our contact us webform to find out more about the coaching and to book your session.

Sessions will take place in person at the JP Rata offices in Taunton, or where this is not possible sessions can be provided over Microsoft Teams.

Want a flavour of the topics we’ll cover? Check out our series on business resilience on YouTube.



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VAT on hospitality and setting your prices

The reduced VAT rate of 5% for the hospitality industry is due to end on 30 September 2021. It’s time for businesses to consider how this will impact their trade.

To prepare, we recommend that our clients: review their prices; prepare till systems for the change; save for their VAT bill; constantly monitor their business’ performance.

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