Optimism prevails: How SMEs are preparing for growth in 2024
As we enter a new financial year SMEs are readying themselves for a period of growth as the economy continues to recover from injuries inflicted by the pandemic. As revealed by the latest Vistage Confidence Index report, business leaders remain buoyant about the future and are expecting continued improvement in economic conditions in the next […]
How SMEs can benefit from the right office design
For as long as they’ve existed, offices have been culture carriers. That means your office sets the tone of your business; it’s where people get the essence of what you’re about, what matters to you, and how you treat your people. Today, the office is also a demonstration of how much attention your business pays […]
How SMEs can deal with debt
With average levels of bad debt rising at small firms, it is vital that business owners take steps to help minimise the risk of late payments and recover money more quickly should they need to do so. Some simple measures can make a significant difference: Be prompt It may sound obvious, but SMEs need to ensure […]
Ten key steps to setting up your own business
Identify your market and niche Start with what you know and where you can leverage your skills, experience, or network. Conduct market research to understand your target audience, their needs, and how you can meet them differently or better than existing offerings. Develop a business plan A solid business plan outlines your business idea, market, […]
The best ways to diversify your identity as an entrepreneur
In the ever-evolving landscape of entrepreneurship, embracing diversity is not just a buzzword – it’s non-negotiable. As entrepreneurs, we have the opportunity not only to diversify our business portfolios but also to embrace and celebrate the richness of our own identities. By doing so, we can unlock new sources of creativity, resilience, and growth. Here […]
Open Finance: A new frontier for SMEs
For SMEs, staying ahead in financial services technology has become a critical challenge, especially as the landscape shifts towards Open Banking and Open Finance. This evolution signals a new data-sharing and collaboration period across banks, financial services and third-party entities, fundamentally altering digital transformation strategies. For SMEs, this change emphasises the importance of considering outcomes […]
Why a diverse workforce makes good business sense
How important is company culture? Why? A strong, inclusive, and diverse company culture is at the core of any successful business. When a company is built on the foundation of diversity, inclusivity, trust, and the desire to give back, external challenges are much diminished. A truly diverse company culture enables businesses to attract and retain […]
How customer loyalty can be a lifeline for SMEs
In this climate of uncertainty, customer loyalty and retention emerge as the crucial strategies for navigating these challenges and ensuring long-term success. And, for SMEs this does not need to cost the earth. In fact, many successful customer loyalty and retention strategies do not require the heavy budget or significant integration approach that a large enterprise […]
What SMEs should consider when building tech investment strategies
SMEs are facing a plethora of challenges this year. From a rise in energy bills, increasing costs of doing business, through to employee retention and supply chain shortages, driving business sales has never been more important to stay afloat. While some companies have invested in technology to support with operations, this is not yet at […]
Ways to make your office more employee friendly
Creating a friendly and welcoming office environment is essential for fostering productivity and job satisfaction among employees. By implementing a few simple strategies, you can make your office a more enjoyable place to work for everyone. Improve the Physical Environment Add Plants: Incorporating plants into the office can help improve air quality and create a […]