On Losing a Major Contract, Costs (and Jobs) or Focus On Do You Quickly Cut Finding New Work? ; Here in Our Latest Business Advice Series We Focus On the Challenges Companies Could Face in Having to Make Efficiency Savings After Losing a Significant Contract. Our Business Experts at Eversheds, Cardiff Business School, Barclays Corporate and Broomfield and Alexander Explore a Number of Options

Western Mail › January 26, 2011

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CAROLINE BUCKNER, RELATIONSHIP DIRECTOR AT BARCLAYS CORPORATE UNFORTUNATELY there is no instruction manual or hard and fast rules on how to survive losing a major contract, as all businesses have their own individual characteristics, but there are some strategies which should mitigate the impact.

There are some fundamental steps firms can take that can make all the difference.

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On Losing a Major Contract, Costs (and Jobs) or Focus On Do You Quickly Cut Finding New Work? ; Here in Our Latest Business Advice Series We Focus On the Challenges Companies Could Face in Having to Make Efficiency Savings After Losing a Significant Contract. Our Business Experts at Eversheds, Cardiff Business School, Barclays Corporate and Broomfield and Alexander Explore a Number of Options

Inevitably, cutting costs remains a primary strategy for many businesses losing a major contract, but the timing and targeting the right areas for cuts is crucial.

Staff training, marketing and PR are often the first areas which firms look to slash, but these can often be tools utilised to strengthen the long-term future of a business.

Staff expertise and knowledge is paramount to a successful and efficient business. Marketing and PR doesn't need to be expensive. Think outside the box when embarking upon campaigns.

Cutting costs is a vital element for ...

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