In times of uncertainty, it’s natural and understandable for a business owner be cautious and think twice before taking on any new financial liabilities. While this is often the best strategy, many businesses thrive during economic downturns, and it can be a great opportunity to grow while others are retreating to safety.

Profit is something we’re all familiar with, but to protect your profits as a business owner you will need to clearly understand what your ‘profit margin’ is, so you can take the steps you need to take.

They say that money makes the world go round and we certainly all need it. Some are great at saving it, others spending it and in the current climate your relationship to money is something important to consider.

Small businesses have some great tools to manage these ups and downs, and one of them is cashflow. Done in the right way, cashflow management can save your business from disaster and boost it towards growth when things are going well.

According to the insurer LV=, the UK worker will change jobs every five years on average. Assuming you have a new pension for every job, the average 50-year-old will have accumulated six pensions.