I am keen to grow rapidly but with interest rates as they are I am keen not to get into expensive debt to fund growth. We have a great components business with some really good products and we are well respected in our sector. Is this just a case of ‘hanging on’ until rates drop – which may be soon.

Topic: Interest Rates

Answer: Although our Experts can help with unique funding solutions we understand your position. From what you say here you have a great product range probably with some differentials or points of difference versus your competition. How good are your front line sales team, how effective is your marketing are you observing either of these areas and measuring what they are delivering. Have you set standards and are these being met. People will only deliver on what they feel they are being measured against. Simple changes to sales and marketing effectiveness need cost no more money but great gains in productivity and a return on your current investment. Set the standards and measure against them and this could deliver great returns without spending more money at this difficult time!