There’s no denying that we’re living in uncertain times right now, and you’d be forgiven for taking a risk-averse approach to business strategy. An increasing number of SMEs are shunning external finance, preferring to remain self-funded through retained profits. In a survey conducted around the time of the EU Referendum,…
For business owners, the turn of a new year brings optimism and opportunity. In a survey by the Royal Mail at the start of 2019, seven in ten UK SME retailers expressed confidence that their sales will increase over the next 12 months. But, for growth to be a realistic…
Investing in new equipment can be expensive for SMEs and startup companies. But there are numerous business finance solutions available to business owners for funding vital assets. One of those options available is leasing.
Competition for talent in the UK has hit “record levels” in the past few years, according to the Chartered Institute of Personnel and Development. The professional body for HR and people development says that organisations need to position themselves as an “employer of choice” – but many companies seem to…
In business, cash is king. Your business might be doing well and, in the next six to twelve months, you might be expecting to bring in increased revenue and profit. However, if there isn’t enough cash flow to cover company expenses, those potential earnings may not be felt.
If you can’t beat them, join them, as they say. That’s the view many businesses are having to take as industry disruptors enter the market, armed with technology, to win over their customers.
Back in 2012, the Federation of Small Businesses (FSB) reported that SMEs were struggling to raise the money they needed to expand. At the time, it found that 42% of SMEs who applied for a loan said they were turned down. That was then, though – surely things have changed?
Scalability. It’s the age-old problem small businesses face. You’ve established yourself in the market, built a customer base and identified new opportunities – but need to invest to capitalise on them. Maybe it’s a piece of equipment, bigger premises, product development, new staff or better IT systems.
In 2006 Clive Humby, the architect of Tesco’s Clubcard loyalty scheme, coined the phrase “Data is the new oil”. He recognised the commercial advantage that smart businesses could enjoy by analysing the data it held on its customers, and responding to the intelligence it revealed about them.
