Small business sales suggest a gradual return to pre-COVID sales rates, the Small Business Index from Xero, reveals. The Index was unchanged at 86 points in May, reflecting that overall conditions in small businesses were steady despite the winding back of some business trading restrictions. The sub-metrics of the Index showed that while sales have increased year-on-year (y/y) since March, they grew by just 2.5% y/y in May, compared to 4.5% y/y in April (Note: these growth figures are adjusted using annualised two-year growth to account for the low results in May 2020). This is in spite of indoor hospitality…
Author: sme-admin
Global health service company Cigna Europe reaffirms its commitment to supporting SMEs as it launches 40 surefire steps to boost employee Whole Health. ‘The road to a healthy SME: a practical guide to achieving better results through employee Whole Health’, provides innovative, cost-effective ideas to help small and medium-sized businesses (SMEs) support their employees’ health and well-being, during COVID-19 and beyond. With two thirds (60%) of SMEs admitting that offering health and well-being benefits to staff boosts productivity and almost a quarter (22%) rating health and well-being benefits as being critical for ensuring high productivity, ‘The road to a healthy…
Restructuring and insolvency trade body R3 has launched a free guide for company directors that explains how to spot signs of financial distress, the options open to them for resolving it, and where to find sources of regulated advice. The document, Get Back to Business: A guide to dealing with corporate financial distress, is available to download from www.backtobusinessuk.com. The guide: provides a one-stop guide to the main options that are available to resolve corporate financial distress explains how the insolvency and restructuring framework and profession can help to rescue viable businesses, save jobs, and repay creditors helps to point directors to qualified…
The challenges faced by small businesses over the past year have had a profound impact on global economies. This is unsurprising given that they account for more than two-thirds of global employment and contribute up to half of national global GDP. They have been forced to adapt and innovate using technology in order to survive. And as restrictions ease, big opportunities are opening up to small firms to make the most of society’s flight back into sociability. Fortunately for small businesses, public goodwill and loyalty towards them has grown. According to Xero’s Future of Small Business report, more than half…
Your start-up is taking off and you’re looking at how to take control of its growth. You have decided your team is going to make customer service a strong, differentiating pillar. Whatever lies ahead for your business, you may want to contemplate outsourcing, and here is why. At which point should you consider outsourcing? We know from the partners we work with there are typically two stages at which they begin thinking about outsourcing. They are either reaching the scaling point, or have exceeded it. Signs that a start-up is about to reach the scaling point are typically when they:…
Following the massive success of the first virtual global business show in December 2020, BBX have launched another event to give back to small business owners. The event launches at 8am on Thursday 24th June, enabling SMEs across the world will come together for a 24 hour online international business event hosted by business community BBX UK and WISDOMS – World Centre for Life & Business Success. The Quantum Leap Business Show is a day of ideas, inspiration and connections for all small business owners. With an unlimited number of free tickets available, the online event is one not to…
The pressure facing SMEs this year is widely known, and they are looking for ways to improve their cash flow and payment decisions. Data analytics is a hidden gem that many SMEs are not tapping into. Smart data-driven decision-making could potentially be transformational for small businesses owners, writes Neo’s CEO, Laurent Descout. The ability to maintain positive cash flow is one of the biggest challenges SMEs struggling with during the COVID-19 pandemic. In times like these, the ability to monitor outgoings versus income, make payments to staff and suppliers, be paid on time and preserve a healthy order book of…
On Thursday 17th June 2021, The Great British Expos opened the virtual stage to business owners and entrepreneurs so they could tell their inspiring stories to hundreds of SMEs. As well as listening to journeys of struggle and adversity, the audience of small and medium enterprises were able to pose questions and ask advice to the keynote speakers. Guests included Paul Waite, the CEO of Aspen Waite and sponsor of Great British Expos, who explained his entrepreneurial journey from selling plums at 8 years old, to creating an award-winning, Top 100 Accountancy Firm. “The single biggest thing that makes an…
As it is male mental health awareness month, the mental health team at Vita Health Group – who work in partnership with the NHS to provide mental wellbeing services across the UK – has created a new infographic for employers in a bid to help remove stereotyped terminology that can be so harmful to male mental health, from the workplace. When it comes to mental health, men are so often told to, ‘man up’, ‘grow a pair’, ‘don’t be such a girl’. Many of us are familiar with these phrases, right from childhood, through our school years and even into…
Nolan Oils, an independent and family-owned fuel provider, employs over 20 staff who are spread between an office environment, home working and remote locations with drivers continually on the road has implemented a platform to reward and connect dispersed teams. The company is led with the belief that staff recognition is essential to ensure employees are motivated and get the feedback and appreciation they deserve. Problematically, because staff are in different locations and on the road, creating instant recognition and building a sense of connection between people has been troublesome. Mark Nolan, Managing Director at Nolan Oils, explains: “Recognition is something…