Cash Is King Following Chancellor's Cuts Says Finance Expert Edward Greeves

Oct. 22, 2010 - PRLog -- “Cash is king” and businesses must ensure they have the correct management systems in place to meet the financial challenges following the Chancellor’s spending cuts warned Cheshire-based finance expert Edward Greeves.

Mr Greeves, senior partner with chartered accountants Morris & Co, was speaking to more than a hundred guests who had gathered for an open evening at the firm’s Chester House HQ at Cheshire Oaks Business Park last Wednesday evening. (October 20).

“As our event coincided with the Chancellor’s statement in the House of Commons and as many of our guests were business people I decided to use the opportunity to offer my opinion of the day’s events,” said Mr Greeves.

He told the gathering: ”The cuts made by the Chancellor will have an impact on all businesses as overall spending is reduced and 500,000 jobs are lost in the public sector.

“To achieve the targeted £80 billion plus savings over the next four years is going to be difficult for all and particularly when 21 per cent of the deficit reduction is anticipated to arise through additional taxation affecting small businesses.

“In this climate cash is king and SMEs must have the correct management systems in place to stay in business. Know your clients and understand where your business sits in the market place.”

Guests who had been invited to meet partners and view the new Morris & Co head office then enjoyed guided tours of the building and took part in a wine tasting.

After the event Mr Greeves added: “I hadn’t intended to make a speech about the economy but there had been such a build-up to the Chancellor’s statement that everyone was talking about the subject and clients were keen to hear my opinion.

“I gave them a very brief over-view after which everybody got back to inspecting our new building and enjoying a splendid wine tasting.”

For further information about Morris & Co click onto: www.moco.co.uk