On the Go Radio Business Show, distinguished entrepreneurs Lord Willie Haughey and Sir Tom Hunter provided invaluable advice to business owners seeking guidance on overcoming financial difficulties. During the show, the two esteemed businessmen addressed questions from George Tah, the founder of Glasgow-based Jambo! Radio Scotland, who expressed concerns about his business encountering cash flow problems.
Lord Haughey recommended that Mr. Tah thoroughly evaluate his business expenses and explore opportunities to augment his revenues while exercising prudence to prevent exacerbating the situation. Additionally, he advised Mr. Tah to consider pursuing the most favourable exit strategy if all other options had been exhausted. Echoing these sentiments, Sir Tom Hunter underscored the importance of assessing the market demand for the business’s offerings.
Mr. Tah detailed his business model, outlining that the majority of the company’s funding is derived from grants, with approximately 30% originating from advertising. Despite the formidable challenges facing the radio industry, Lord Haughey and Sir Tom Hunter commended Mr. Tah for his resilience.
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In summary, the sage advice dispensed by the seasoned entrepreneurs offers valuable guidance to business owners contending with financial hardships. Furthermore, the article underscores the importance of cultivating a respectful and knowledgeable space for online discussions, highlighting the responsibility that accompanies contributing to public discourse.