With an increasing reliance on technology, the protection of sensitive data and digital assets has become paramount for businesses of all sizes. The UK Government’s Cyber Security Breaches Survey 2023 estimates there were 2.39 million instances of cybercrime affecting UK businesses in the prior 12 months – and for small businesses, navigating the complex landscape of cyber threats can be daunting and confusing. It’s never been more important for business owners to understand the laws and regulations, and how to mitigate against potential risks. Rob Rees, Divisional Director at Markel Direct, explains the regulatory requirements for businesses when it comes to…
Author: sme-admin
As labour, services, and material costs rise, many businesses are seeking ways to reduce expenses in 2024. Each month, an average of 7,520 online searches on Google are made for terms related to cost-cutting in business, such as “How to cut costs in business?” and “Business cost-cutting strategies”. A recent SME insights report by Dojo, who specialise in payments for enterprise and independent businesses, sheds light on the challenges faced by UK small and medium-sized enterprises. Dojo surveyed 1,001 SME owners, revealing the seven most common cost-cutting measures that businesses have implemented this year, as well as the industries that are focusing…
Historically, drinking alcohol has become synonymous with workplace events, and whilst this is an additional benefit for some, it’s important to understand the role that alcohol-free team building events have on inclusivity in the workplace. For some employees, this can present a social pressure to fit in and be ‘part of the team’, so alternative events must be considered. Anna Humphries, Product Development Manager at Bear Grylls Survival Academy believes outdoor team building activities are an effective solution for bringing your team together without the aid of alcohol. Inclusive participation A study from Drink Aware found that people working in the private sector are…
According to one of the country’s leading global logistics providers catering for SMEs, Aramex, small and medium-sized businesses in the UK are increasingly turning to international markets to seek out new growth opportunities despite ongoing economic uncertainty. The prospect to diversify revenue streams in new and emerging markets is indeed becoming an attractive option for UK businesses, with HSBC estimating last year that around 450,000 brands have ambitions to seize international opportunities. While international trading has the potential to open doors to new dimensions of possibility and enhanced growth, the pathway to global expansion can also be fraught with complex…
If you use ChatGPT, or other AI tools, for work related tasks, does your boss know? If you answered “No”, you’re not alone. Seven out of ten professionals (68 per cent) using AI at work are doing it secretly, according to a survey by communication platform, Fishbowl. Don’t force your staff to do the same, says Iain Simmons at corporate legal services provider, Arbor Law. Instead, develop an AI use policy. The potential impact of AI on our lives is one of the most discussed and debated topics of our time. Since November 2022, and the launch of ChatGPT, the…
In the 2010 biographical drama, The Social Network, which portrays the founding of Facebook, the initial excitement and success of a start-up turns sour and ends in legal battles and betrayal. While a very extreme case, the film highlights a common issue that start-ups run into, says Dan Adams, co-founder of legal advice for start-up businesses specialist, Arbor Law. Here, Dan suggests a simple way co-founders can protect their young business and ensure stable scalability. When starting a new business, it may seem like there are more important things to do than draft a detailed shareholders’ agreement. Co-founders don’t necessarily…
With universities across the UK set to graduate imminently, creating an influx of job applicants & increased competition, new research has revealed searches for ‘recruitment fraud’ surged by 48% between May 2023 and April 2024 compared to the previous year. But, how does CV deceit affect businesses in the UK? money.co.uk business insurance experts reveal what applicants need to know about the risks of CV fraud and tips for businesses on how they can tackle it. What are the Risks of Lying on Your Job Application or CV? According to surveys and search interest, lying on your job application or CV is relatively…
Having penned over 45 books on British politics, esteemed educator, Sir Anthony Seldon, knows exactly what makes a compelling leader. In episode six of the Culture de-cooded podcast – staging deep conversation with some of the world’s most ground-breaking leaders – he tells host, Charlie Coode, how recent PMs are holding the UK back. “They come in. They know nothing. And they’re surrounded by know-nothing advisors who think they can make it all up” says Seldon, explaining how their disdain for their predecessors leaves them blind to the historical facts. Describing government as “boiling in arrogance”, Seldon believes that politicians…
In the fast-paced corporate world, stress levels and the feeling of being overwhelmed at work can be common. It’s exactly why the need to step away from the high-energy and deadline-driven work environment is more important than ever. This does not necessarily mean that everyone takes individual holidays, however, the rise in corporate retreats has provided companies with the opportunity to offer their employees a break that can also enhance bonds and cohesion between colleagues and departments. With ideas for corporate retreats being plentiful, the more difficult parts of the planning process come down to factors such as location, accommodation,…
As a new law is set to add fake reviews to a list of banned business practices, experts have revealed what motivates genuine customer reviews and how businesses can encourage them to bolster their customer base. Government figures show that 90% of consumers rely on reviews to make informed decisions about a product or service, yet last year Trustpilot removed a staggering 3.3 million fake reviews. This new law banning fake reviews is expected to be a significant step towards making shopping more transparent and will mean that genuine customer reviews will become even more important for businesses. So, why do customers leave genuine reviews? To find out, the…