IR Foresight: It’s Budget Time
With the Russell 2000 charting its best performance in two years, it's clear the financial landscape for small cap companies is looking up. This surge whispers of opportunities for growth, making it prime time to fine-tune your investor relations budget with precision and foresight. Here’s how to leverage this potential upswing into your IR plans for 2024:
Align with the Upturn: The market's rhythm is picking up, especially for small caps, and your budget should catch this beat. Allocate for growth, yes, but do so with a discerning eye—invest in areas that are likely to flourish in an upturn, yet retain enough flexibility to adapt to unforeseen shifts.
Strategize Debt Wisely: Interest rates have been the talk of the town, and while they might be rising and perhaps, debt coming due soon, your budget should plan for where you want to go tomorrow. Craft a debt strategy that not only manages current repayments but also positions you with enough IR resources to take advantage of the upswing.
Create Economic Flexibility: Your budget shouldn't just be a static set of numbers—it needs to breathe with the economy. Include buffers that allow you to absorb economic fluctuations without compromising on your core growth strategies.
Embrace Diversification: Don’t place all your bets on one aspect of IR. Diversification is your knight in shining armor; it’s about playing both defense and offense. As you allocate your budget, spread your investments to cover different initiatives, ensuring you’re set for both stability and growth.
Get ready for 2024, we can help take the confusion out of IR planning and budgeting. Reach out to Graham Farrell (Graham.Farrell@Harbor-Access.com) [in Canada] or Jonathan Paterson (Jonathan.Paterson@Harbor-Access.com) [in the US] to start a conversation.