We know that beauty businesses continue to face an extremely challenging time as we move into 2021”, says National Hair & Beauty Federation (NHBF) chief executive Richard Lambert. “Our most recent survey revealed that many in our industry are unsure if they will be able to survive beyond the end of the financial year in April 2021.
“We’re doing all we can to help our members, and the industry generally, to recover from this crisis so we can look to the future with renewed optimism. The NHBF doesn’t underestimate the scale of the task and is continuing to push the Government for more help and support. In the meantime, there are steps you can take to help your business recover in the year ahead.”
5 steps to take to boost your business:
• Access the Government financial help you are entitled to: Find out all the latest information at nhbf.co.uk/financial-support
• Negotiate with your landlord: Try to negotiate a rent-free period or rent reduction as well as switching to monthly rent payments instead of quarterly. Take advice from your solicitor or property advisor if you have one to make sure you get the best deal for you and your business. NHBF members can download a fact sheet on how to negotiate with your landlord at nhbf.co.uk/landlord
• Speak to your bank and accountant: Take the opportunity to discuss the best financial solutions for your business. They may have some fresh ideas and suggestions that you hadn’t previously considered. Find out more at nhbf.co.uk/cashflow
• Make the most of no-cost and low-cost marketing: Standing out from the crowd, customer loyalty and attracting new clients are now even more important, but effective marketing doesn’t have to cost the earth – much of it is free or low-cost. Find out more at nhbf.co.uk/back-to-business-marketing
• Get your prices right and reduce no-shows and late cancellations: These factors are vital to ensure you can make a healthy profit. Find out more at nhbf.co.uk/back-to-business-work-smarter
Ensure good mental health too
“After such a difficult year, it’s even more important to ensure that you’re looking after the mental health of your team as well as yourself”, says Lambert.
A recent Government study found that the number of adults with symptoms of depression almost doubled to just over 19% during the coronavirus pandemic, increasing from almost 10% in the months leading up to the outbreak.
“Even before the pandemic, NHS figures show that one in four adults will experience some form of mental illness during their life”, explains Lambert.
Find out how to support your staff (and yourself) through the coronavirus pandemic and beyond at nhbf.co.uk/back-to-business-mental-health
For less than 80p a day, the National Hair & Beauty Federation (NHBF) will work with you to support your beauty business while keeping you safe, legal and bang up to date with all the latest business laws. Find out more at nhbf.co.uk
Join the NHBF before the end of January 2021 and quote PBJ25 to get £25 off your membership fee. 01234 831965