Research among more than 1,000 SME owners, undertaken by GoDaddy, reveals that relationships among those who either currently run, or have run, a small company with their partner last 5 times longer than the national average. This equates to 11 years, 4 months for those who run a business together, compared with the national average of 2 years, 9 months*. The study found that almost four in five (79%) said their relationship is stronger because of running a business together, and a similar number (78%) think the character traits needed to run a business with a partner are the same as those…
Author: sme-admin
Entrepreneurs are pressing ahead with their ventures despite all the challenges being thrown at new businesses. In fact, more than 5.4 million businesses were launched in 2021. Whilst software projects remain popular for many, product development is equally popular amongst budding entrepreneurs. 30,000 new consumer products are launched every year, yet 95% of these projects fail, according to experts at Harvard Business School. Faced with this statistic, taking the leap and setting up your own business may seem daunting, but it is also incredibly exciting. For many entrepreneurs, the design and product development stages are the most exhilarating. However, while…
New data has revealed that SMEs are finding it increasingly harder – and more expensive – to acquire new customers through big tech platforms such as Facebook and Instagram. In the current economic climate, it’s perhaps time that SMEs took a step back and considered more effective – and cost-effective – ways to generate value from their customers. Time for change Changes to algorithms, attribution standards, and targeting updates have increased the cost of acquisition for SMEs everywhere. Last year, for instance, Facebook changed its attribution standards in response to the launch of Apple’s App Tracking Transparency (ATT) opt-in privacy,…
The last couple of years have been a catalyst for change with a noticeable shift towards flexible, hybrid and remote working models. Branded ‘the Great Resignation’, 2021 saw record numbers of employees leaving their jobs in favour of more agile working and an improved work life balance[1]. Last week saw 70 businesses in the UK begin a six-month trial of working a 4-day week for no loss of pay. The ‘100-80’ model whereby employees will receive 100% of pay for 80% hours may be highly attractive to many having recently felt the benefits of flexible working during the pandemic. The…
Leading BAME fostering agency Banya is celebrating being ranked as outstanding in every category by education inspection body OFSTED. The agency, which operates as a not-for-profit organisation and was established over 25 years ago, has moved from good to outstanding since its last inspection in 2017. Set up in South London in 1996 by Nyasha Gwatidzo and her late husband Dr Paul Soper, Banya’s directors are currently all black women. Chido Poe, Nyasha’s daughter is now the managing director and has led the team through a period of change during the pandemic. At the time of the inspection in March…
Paralympic gold medallist Kadeena Cox OBE appeared at the inaugural MS Brain Health Awards recently to raise awareness of the work being carried out globally to improve long-term outcomes for those living with MS and inspire further change. The international awards were held virtually (May 26) and welcomed attendees from all over the world, including healthcare professionals, multiple sclerosis (MS) societies and individuals championing the importance of brain health and timely intervention in managing the condition. Five categories of awards acknowledged and showcased excellence: Patient Organization; Patient Advocacy; the Team Award; the Individual Award; and the Innovation Award. Winners included the multinational…
Nine in ten shoppers admit they have abandoned an online purchase in the last six months due to a lack of payment options, data reveals claims online payment provider Mollie. In a survey of 1,000 Brits by payments provider Mollie – which asked participants about their shopping habits and experiences – it was revealed that the most popular payment methods are debit/credit card, PayPal, Apple Pay and Klarna. Of those that chose PayPal as one of their preferred payment methods, 38% said they would abandon their cart should this option not be available at the checkout. The same could be said for…
The new way to work is here and finding a workspace is easier than ever. Spare Desk is the brainchild of Bristol entrepreneur and experienced project manager Andrea Szell. The mum of 3 had the idea for Spare Desk before the pandemic accelerated the ‘new way of work’ and the increased requirement for flexible working and sustainable working practices. Spare Desk is a platform that enables individuals and businesses who would like to list and monetise their unused workspaces to connect to users who need on-demand workspaces tailored to their requirements. Whether you are looking for a desk to sit…
In some ways, the pandemic created a more level playing field for small and medium-sized businesses (SMBs). Often faced with the need to pivot amid fast-changing market conditions and maximise limited budgets, they suddenly saw that their largest competitors were grappling with the same issues. Although hard hit by COVID-19, many SMBs were also able to harness their well-honed agility and ingenuity to help them adjust — powering speedy innovation and adaptation. Despite experiencing falls in year-over-year sales as high as 55%, SMBs have adjusted swiftly to growing shifts, particularly digitisation. Already driving nearly half of UK digital advertising spend…
Rotem Shemesh, Lead Product Marketing Manager, Security Solutions at Datto, provides SMEs some guidance on how to protect against the numerous phishing attacks businesses face today. Phishing attacks remain the most common threat vector according to the UK Cyber Security Breaches Survey, published in March this year. Of the 39% of UK businesses that suffered a cyberattack in the last 12 months, 83% were due to a phishing attempt. This is not surprising, given how easy it is to deploy a phishing campaign; and while phishing is not new, it is often used as the first step in larger-scale cyberattacks to trick users…