Broder Metals Group makes an educational debut
At Broder Metals Group, we see ourselves as a fairly humble company. That’s why we were surprised to be approached by Hodder Education, endorsed by Oxford and Cambridge to talk about our business for one of their school textbooks!
The OCR Business Studies book is meant to prepare GCSE students for their final exams and the world of Business, providing real life examples for their learning. As a Steel Stockist that has survived the oil collapse (and plenty more obstacles thrown at us!) Broder Metals Group were asked to speak about how to tackle and prevent cash flow problems.
Here’s the suggestions we made:
- Reduce stock – even if selling some items at a loss if necessary.
- Talk to suppliers – cancel or delay orders, or ask for a reduction in price where possible
- Make general cutbacks
And most importantly:
- speak to the bank pre-empting any likely problems, not when one arises. Use an overdraft so that you have a cash surplus for when you need it.
So there you have it, Broder business acumen for GCSE students (or time constrained adults).