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Grow a Small Business

When the economy is doing well, it’s easy to become too relaxed and spend too much money. Overhead costs like rent, salaries, and travel costs can become bloated as managers ride the wave of prosperity.

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Evidence published by Future Workplace, after carrying out their Workplace Wellness Study, suggests that the number one luxury on employees’ wish lists is in fact something very simple – and far from expensive. Rather than elaborate perks and benefits, employees are searching for natural light. The research showed that a substantial proportion of employees wish they had more access to natural light. Intrigued as to why this is?

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According to the Office for National Statistics, a “high street” is “a cluster of 15 or more retail addresses within 150 metres”. In other words, the presence of retail outlets is literally what makes a high street and the media often uses the phrase “high street” as a synonym for the retail sector.

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Are we surprised that there are still more male entrepreneurs than female entrepreneurs? Maybe not. However, some parts of the world see this inequality much greater than other parts. The majority of females in business say that the further up the ladder they get, there is a lack of female role models that they can aspire to be. In a male-dominated industry, women are not always treated the same as male entrepreneurs.

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We all know to recycle paper, turn off a light when we leave a room and choose to walk or take public transport over using the car wherever possible. But there’s a significant threat to the environment that nobody is talking about. E-waste, when electronic products end their ‘useful life’ and are thrown away. This is the single fastest-growing waste stream with 80% off the world’s electronic devices end up in the landfill.

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The majority of schools will close on 20th December so from that Friday the pressure is on! With Christmas Day and New Year’s Day both being on a Wednesday, this holiday season may be proving a bit more complicated to plan than usual.  What time off will you be giving your employees?

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Project management is not as easy as you think. There are a lot of things you need to take care of. From planning to final submission, the list is endless. If you have to keep a record of every step you take in your project or to know what all steps are to be taken for the completion of the project, using a Gantt chart tool is the ultimate solution.

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Christmas sales are crucial in the success of a business and is the key period of the year that determines the overall profit margin for the year, so it is vital to implement a strong business and marketing plan for the festive season to make sure that your business will continue to grow and thrive into the New Year.

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Strategic planning is a crucial process that often gets overlooked in small businesses, due to a lack of understanding about the process, and a lack of resources available to dedicate to planning. However, a strategic plan can be the difference between staying afloat and being a true success.

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As a business owner, you’re probably always on the lookout for easy ways to save some money, whether you’re looking to cut the cost of that lunch out or make some savings on your office electricity bill.

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Starting a company is a risky business. In the early stages, there is a significant chance of failure. One in five small businesses do not last beyond their first year.  Thirty per cent of small business fail in their second year, 50% fail after five years, and 70% fail in their tenth year in operation.

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Artificial Intelligence is changing many of the ways that you can conduct your business. Many of these improvements focus on task management and evolving data collection.

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You’ve gone through the hard work of setting up your business and have built up a list of clients you work with on a regular basis. It’s time to begin the effort of securing relationships and setting the stage for growing your business in the future.

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Many social entrepreneurs are now starting businesses with the aim of making a profit and putting a percentage of that profit to good use, to ‘make a difference’.  An increasing number of businesses in the UK are taking this approach and are putting social impact at the heart of what they do.  It is also the case that many consumers want to buy from businesses which are making a contribution in the wider world.

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There are many aspects to consider when setting up your business, and one of the most vital is pricing. In order to not only keep your head above water but also to actually generate profits that enable you to grab new growth and development opportunities as they arise, finding the balance between strategic and competitive pricing is essential.

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Long hours, tight deadlines and increasing demands, among many other workplace stressors, can turn work into an emotional roller coaster that will inevitably affect performance and job satisfaction. Running the hamster wheel is a short-term gain.

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In the business world today, the competition is becoming more serious. This is why it is crucial for business owners to pay attention to the latest trends to get ahead, especially for small businesses. Getting ahead means accessing new knowledge, skills, resources, and tools. And you can only learn these things when you break away from your comfort zone.

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Noel McDermott, a psychotherapist states that: “If you want to be a progressive business leader, now is the time to invest in the emotional and mental health of your team, they are after all your most valuable resource. Most organisations now understand fundamentally the link between a healthy workforce and increased productivity and most of us understand that health and wellness includes mental wellness.”

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Cybersecurity should be a top concern for small companies whether you do business primarily in the UK or in other countries as well. Even though news headlines usually focus on data breaches that happen to large companies and government organisations, it’s the small business that’s even more at risk. Why? Hackers are counting on small businesses to spend less on their cybersecurity budget and have weaker security than larger companies.

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SMEs generally need the capability to juggle many different tasks at any given moment. If you’re a new SME business your focus might be on finding suitable premises, financing your operation, strengthening your team or simply staying afloat. With a plethora of moving parts to consider, digital risk management can get left by the wayside. The risks, however, can be severe and are more prevalent in smaller businesses than they are in larger ones.

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