New book, The Finance Book offers a practical toolkit for non-finance professionals to understand the language of finance from a business perspective. Authors Stuart Warner and Saieem Hussain tell you what you need to know to quickly get up to speed with core finance concepts. In the following article Warner and Hussain have put together some tips for SME Today readers to help you determine the health status of your business. SME owners and managers wear many hats including operations, sales/marketing, supply chain management, human resources management and IT amongst others. Finance is one of the disciplines that often loses priority amongst…
Author: sme-admin
Wednesday 30th November marked the awards ceremony of The Thames Valley Business & Community Awards recognising and celebrating the outstanding achievements of businesses, charities and inspirational individuals throughout the region. Among the 15 winners were entrepreneurs who had created unique solutions to the problems they faced, sunk their heart and soul into improving their industry and overcome personal and professional hardship to triumph in business. The Thames Valley Business and Community Awards winners are: Business of the Year SEGRO The SME of The Year Earth 51 New Start-Up of The Year Holistic Hounds The Employer of The Year CV Library…
Harshna Cayley, Head of Online Payments, Barclaycard Payments provide SMEToday’s readers with some useful advice. As we look forward into 2023, many small and medium businesses (SMEs) will be assessing the ways they can navigate the current economic turbulence and uncertainty. With rising costs and high inflation, SMEs will be increasingly looking at their expenses, trying to keep costs to a minimum. Despite the current macro-economic environment, the popularity of using B2B subscription services amongst SMEs is still holding strong but it’s critical these services continue to add value. The use of subscription-based services to keep operations running smoothly has…
Analysis from retirement specialist Just Group reveals a worrying ‘planning gap’ among people nearing the end of their career while those with no later-life savings are particularly at risk of poorer outcomes due to a lack of preparation. The research was conducted among the 45-65 age group, those closest to the end of their working careers and starting the transition towards retirement. It found that nearly three in 10 (28%) 45-65s haven’t given any thought at all to their retirement plans, including a quarter (25%) of 56 to 65-year-olds. Only one in 10 (10%) had made full plans for retirement…
From 1 January 2023, new EU laws require all brands retailing in France and Italy to display recycling information on consumer product labels – in a bid to reduce waste and improve sustainability. Failure to comply could result in fines of up to 10% of turnover or other severe penalties. To meet this challenge, a new web app has been launched by UK-based tech company Buyerdock that enables brands to create 2D-QR codes that will help manufacturers to comply with the new regulations. These next-generation 2D-QR barcodes are powered by GS1 (the only authorised provider of unique Global Trade Item…
£4 million is lost through fraud every single day in the UK. Criminal techniques are fast evolving with new ways to defraud businesses causing financial loss, damage and disruption. John Edwards, Chief Executive and Group Executive International of the Institute of Financial Accountants (IFA), takes a closer look at current trends in fraud and what steps SMEs can take to mitigate their risk. UK Finance reported a 30% increase in fraud in the first half of 2021, with almost £754m stolen. Data breaches are a key enabler of fraud, with the personal and financial information lost in breaches then being used to commit fraud affecting…
Wybo Wijnbergen Co-founder and CEO of infinitSpace, gives SMEToday’s readers his thoughts on how to combat loneliness in the new world of hybrid work patterns. The incubating lockdowns of the pandemic created a change in environmental conditions, bringing a professional revolution as companies took action to adjust to new and rapidly changing regulations. Opportunities for home working became the new normal; today a significant proportion of employees work with a degree of flexibility in their working patterns. Whether working entirely remotely, returning to the office from Monday to Friday or finding balance in hybridity, the key advantage of increased flexibility…
As winter approaches some employees may be finding that they go to work and come home in complete darkness. This lack of daylight exposure can cause some to experience winter depression, also known as Seasonal Affective Disorder (SAD). This disorder impacts around 20% of the population and typically causes low mood, fatigue and increased irritability. Obviously these symptoms can affect the productivity of workers and the overall office morale. To help combat the impact of SAD at work, the experts at We Are WildGoose, team building activity providers, have put together five ways that employers can help their staff stay motivated…
More than half of Brits admit they get frustrated if they have to wait more than five hours for a response from a brand’s customer service, highlighting the need for businesses to make sure they have measures in place to support Black Friday. Nearly one in three consumers say they are happy to wait longer than this – but only up to 24 hours, according to a survey of 1,000 Brits by telecommunications provider Esendex. And many would be unforgiving of a bad experience with a company, with 85% saying they’d give a business no more than two chances before…
As we approach Black Friday, a prominent day in the ecommerce calendar with a huge potential for businesses to boost their sales, many companies will be readying their biggest offers and slashing prices. But, one thing for companies to look out for at this busy time of year is post-purchase dissonance, which can have a hugely negative impact on a firm’s bottom line. In preparation for Black Friday, Chris Gorman, head of professional services at business messaging provider Esendex, explains what post-purchase dissonance is and how, without taking this into proper consideration, businesses can run the risk of having to…