Small Business Saturday is a not-for-profit, grassroots campaign, which exists to promote small UK businesses - primarily on the first Saturday of December but in reality - supports throughout the year. The campaign encourages businesses to promote themselves and work with other small businesses and consumers to 'shop local' - supporting independent businesses in their community.
Delivering consistent and regular communication to existing and potential clients is vital for business engagement. Getting it right takes a lot of trial and error, and what works for one business may not work for another, but communication is key, making sure you deliver your message on brand and in the tone of voice that your audience relates to.
Offering credit terms to customers is a solid strategy for building business relationships and increasing sales but with 62% of SMEs reporting that they are struggling with late payments, it’s vital that companies are proactive in making sure that they have a clear understanding of their customer’s ability to pay invoices before setting out terms and conditions.
Alarming statistics show 20% of business owners are not paying themselves amid cash flow concerns, a new report from Hitachi Capital Business Finance revealed.
Good to see that the Government is taking challenges faced by SMEs seriously, and is putting its money where its mouth is by providing £2m to fund projects that are looking for innovative solutions to solve common problems faced by small businesses – with late payment being paramount.
One of the best pieces of client feedback we have received was, “I was sceptical at first – I needn’t have been. My company uses the toolkit everyday and it has helped us avoid some business decisions that would have put us in a vulnerable position. Worth every penny of the £79.95 annual subscription.”
Probably not a question you ask too often in business if things are going smoothly. However, when invoices are unpaid and phone calls unanswered, it’s asking the right questions or digging a little deeper into whom you are working with in those early days that could save you a lot of time, energy and most importantly – cash.
The British Chamber of Commerce reports that the UK economy will remain on a weak trajectory in 2018 due to Brexit uncertainty,