My Top 3 Predictions for 2015

 
Many of us will be hoping that 2015 will be a good year, whether or not you are hoping to turnaround a bad last year or simply improve on a profitable one.  Therefore here are my top 3 predictions for 2015 relating to debt and finance…
 

1. Further reductions in fuel costs

With the price of crude oil still low, fuel companies are likely to further reduce their prices this year which should hopefully lead to many businesses benefiting from reduced running costs. Of course, the businesses most likely to see the benefit are logistics, travel and construction companies but a large proportion of companies nowadays require some form of fuel and therefore this is a huge plus for the 2015 year.
 

2. Interest rates will rise

As previously covered in my blog; experts are predicting that interest rates will rise this year, which may lead to many businesses and individuals becoming unable to service the additional interest costs. My view is that interest rates will rise but governments often make other changes to soften the blow therefore whilst it should be a concern, the effects can be spread out over time.  Companies should however plan for the changes and shop around for the best deals now whilst also putting something away for when the time comes.
 

3. Supermarket price wars

With reports of many supermarkets such as Tesco, suffering significantly decreased profits, announcing store closures and putting planned new developments on hold, it is not surprising to hear that 2015 is likely to be a year where prices are slashed by all as they each try to take their market share. This could however have drastic effects on the suppliers to their stores as the margins earned on their produce are already low.  Therefore it is expected for the suppliers to take some of the hit in the reduction is sales prices.  Supermarket producers will not need to be warned of this likelihood and are already likely to be doing all they can to avoid any debt issues in the future however they should be mindful to take professional advice quickly if they hit trouble as this can be the difference between saving their business through a pre-packaged sale or complete closure and Bankruptcy.

My advice is to beat the curve and ensure that you plan for the worst this year to ensure that you stay one step ahead and give yourself the best chance of success

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