3.3 million (60%) small and medium-sized enterprises (SMEs) have experienced supply chain delays in the last year, losing an average of £625,000 in income each as a result, according to new research from Aldermore’s SME Growth Index. Growth opportunities hit by supply delays One in four SMEs who have experienced supply chain delays in the last year have seen a financial impact on their business (27%). The delays have led to increased costs (40%), delays to existing projects (36%) and difficulties in securing new deals (23%). Industries that are reliant on materials were particularly vulnerable to these challenges, with SMEs…
Author: sme-admin
Waves washing over your feet, breathing in the cool mountain air, enjoying a cocktail on a warm continental evening… Whilst annual leave is a well-deserved break, it can be difficult to deal with holiday handovers before any time off can begin. This is applicable to team members who are planning holidays; and those that are left behind and have to keep the show running. A good holiday handover means you can benefit from your downtime without worrying about business. It will also take away much of the anxiety from the people you ask to step into your shoes. Make it…
The frequency of cyber-attacks have been on an upwards trajectory for several years now, but 2022 saw new threats emerge and impact organisations on a regular basis. According to the latest Cyber Security Breaches Survey from the UK government, 69% of large organisations and 32% of smaller firms experienced a cyber-attack in 2022 and with recent highly publicised attacks at the likes of the BBC, British Airways and Boots, it’s clear that cyber-attacks are a gargantuan threat to businesses of all shapes and sizes. The rate and frequency of these attacks is concerning but even more alarming is the vast…
In times of turbulence and uncertainty, the significance of a head-turning pitch becomes even more pronounced. Now, more than ever, entrepreneurs must harness the power of a pitch-perfect presentation in order to set their funding mechanisms in motion. During periods of economic instability and shifting market landscapes, naturally investors are more cautious. A well-crafted pitch is highly necessary, not only to capture their attention but to allow the investors to envision its potential success. A typical venture capitalist or angel investor may see hundreds of start-up pitch decks every year, usually spending 10-15 minutes reading each one, depending on how…
Every year, SMEs lose a staggering £19 billion due to a lack of productivity, with some business owners reporting 60 hours lost to admin tasks per week. A recent review of SMEs carried out by Microsoft Dynamics 365 experts, Pragmatiq, has found that adopting the right software can offer small businesses the opportunity to regain valuable time spent on laborious admin tasks. Pragmatiq identified one study that showed businesses could regain up to 240 working hours every year that were otherwise previously spent on administrative tasks. Implementing the right software has the potential to unleash copious benefits for small and medium-sized enterprises; efficiency improvements, data…
The latest UK business insurance statistics by money.co.uk business found that 44% of SMEs in the UK have no commercial insurance – up from 40% in 2021. This amounts to over 2.4 million SMEs in the UK. As a result, the experts at money.co.uk business have put together information on the following: The most common reasons why business owners don’t take out insurance Why business owners need insurance How much it costs to insure businesses Finding the right business insurance. The most common reasons as to why business owners don’t take out business insurance: Reason for not having insurance Percentage The business is too small 47%…
Small businesses face an uphill battle in capturing the hearts of younger customers, as a mere 22% of Gen Z believe their customer service rivals that of larger competitors. This is particularly concerning for smaller fashion brands, considering that 75% of spending by Gen Z is on fashion. The Small Business Customer Service in 2023 research, from FM Outsource, looked into what customers want from small businesses and what they’re actually offering. Despite reservations from Gen Z, the research revealed that older generations are more confident in the capabilities of small businesses. An impressive 60% of consumers, aged 55-64, believe they can offer…
In today’s economic climate, workplace benefits are no longer just a perk, they are a necessity. Employers should be helping employees’ salaries stretch further during the cost-of-living crisis, not only because it will help keep their staff happy, but because it is the right thing to do. This article, by Blackhawk Network Extras, an employee benefits platform, delves into the crucial insights from their recent report, ‘The Cost-Of-Living Crisis: Support Your People with Employee Benefits.’ We recently conducted research among 500 HR decision-makers (HRDMs) and 2,000 employees up and down the UK to understand attitudes towards workplace benefits and how they can…
E-commerce fraud is growing fast and financially impacting businesses across the globe, according to new research from Ravelin. In the last twelve months, merchants have seen a huge leap in online payment fraud (up 59%), account takeover (up 51%), promotion abuse (up 52%), refund abuse (up 53%) and customer fraud / friendly fraud (up 40%). Merchants are now throwing more and more money at the crisis and expanding fraud teams in a bid to mitigate losses. Three-quarters (75%) of all online merchants say fraud budgets will grow this year (global average figure.) In the UK 62% will be spending more on…
Whether you’re interviewing for a job role with a new company or for an internal position, preparing for a job interview and ensuring you perform at your best can be daunting. It’s easy for nerves or lack of confidence to set in, which can mean that you struggle to communicate your suitability for the role to the interviewer. Sheelagh McNamara, Executive Coach and Lead Tutor on RADA Business’ Executive Presence for Women programme, offers her key insights and skills for creating a connection with your interviewer, tackling nerves and projecting confidence to make a standout first impression. Prep for success Take some…