Businesses and individuals are facing unprecedented challenges and uncertain times due to the COVID-19 emergency. Our support page link is at the end of this newsflash. Like you, we are feeling the impact to our work, families and friends. UK Business Advisors (UKBA) have contingency plans in place and are we already remote working and communicating via phone and video calls to support our clients. As premier advisors to UK Small and Medium sized businesses, we are ready to play our part to help our clients and the wider business community during these difficult times. We remain confident that businesses that show decisive leadership can survive and bounce back. UK Business Advisors have activated our nationwide network of experienced advisors to help business owners and directors plan what is needed. Even with government grants, business rates relief or emergency loan support there will be difficult decisions to be made quickly. We can provide initial support and share our … [Read more...]
Are you ready to put your STAMP on 2020?
Strategy Targets Accounts Marketing People However you voted in December, and whatever your preferred outcome, we know the UK will be leaving the EU on 31st January. The clock starts on the transition period… but don’t worry, this is not a Brexit rant! The start of every New Year is the perfect time to restock your thought-bank, recharge your batteries and do some planning. Here’s how you can put your STAMP on your business in 2020 by focusing on these 5 important areas: Strategy Most small businesses do not have an up-to-date business plan, which means they tend to focus only on shorter-term outcomes. And as the Cheshire Cat in Alice’s Adventures in Wonderland once said, “If you don’t know where you are going, any road can take you there.” The classic result is an initial feeling that you are responding to the market and widening the range of services you provide, but this soon develops into a business spread so wide that it’s impossible for potential customers … [Read more...]
Is your business stuck at a crossroads? Time for a strategic review.
Many businesses reach a stage when they are at a crossroads about the direction to take next or are “stuck” without a clear strategy. It may be a crisis point or it could be an opportunity to take a different path. Directors may no longer be aligned with the planned company direction, and this can cause friction. Rather than putting off hard decisions, it makes sense to face up to the challenges and opportunities, have a strategy review and then put an implementation plan in place. Reasons for a strategic crossroads could include: Change in market dynamics that impact growth or profit potential.Increased competition forcing new approaches.Loss of important customers or contracts.New product or service opportunities possibly requiring research and development.Recognition that the business is too reliant on a small number of key customers.Macroeconomic/political changes such as Brexit.Divergence of what Directors want from the business.Planning for exit / opportunities to … [Read more...]
Training Needs – Choosing Digital Solutions
Are you about to select a digitally based solution for your organisation? For making the best choice, make sure you have done your homework before talking to any of the potential suppliers. Packaged solutions are perceived as the most cost effective solutions - but very few people appreciate the pros and cons of bespoke v’s package solutions. Simple, bespoke solutions are often better and more efficient. Too many buy complex Accounting Packages that then limit their subsequent digital progress. List aspects of the solution that you consider are absolutely essential. - Some parts of the solution will be "Must Haves...", others are "Nice to Haves..." make sure you have really thought through what you need from the solution, and what can wait till next time if budgets prohibit their use this time. What information do you need to hold, what processes and reporting outputs are needed? What types of changes need to made and how are these undertaken? eg. VAT rate is 20% at … [Read more...]
Are business owners doing the best for their company’s?
The answer is YES and NO. Indeed I witness many businesses and their owners, mainly in manufacturing. There are those Business owners of a 'can do' disposition, who tend to run and orchestrate their business. Fortunately most of my clients fit this description, and surprise - how they are bucking the trend of doom gloom and despondency. Growth is an every day part of their ethos. There are those afraid to be bold, awaiting how things work out, and failing to grasp the initiative. In this case the business runs them, and no sign of an orchestrator! Survival becomes the over riding goal, and of course these companies are struggling. So, it as simple as the 'owners approach' and the ethos in the company? It can be, but it's not just that easy. Attitudes are difficult to change, but not impossible. Let us put it simply, if you aim to grow by 30%, and you only achieve 25%, is this failure? Probably not. However, if you aim to survive, and you underperform this target, … [Read more...]
Are business owners doing the best for their company's?
The answer is YES and NO. Indeed I witness many businesses and their owners, mainly in manufacturing. There are those Business owners of a 'can do' disposition, who tend to run and orchestrate their business. Fortunately most of my clients fit this description, and surprise - how they are bucking the trend of doom gloom and despondency. Growth is an every day part of their ethos. There are those afraid to be bold, awaiting how things work out, and failing to grasp the initiative. In this case the business runs them, and no sign of an orchestrator! Survival becomes the over riding goal, and of course these companies are struggling. So, it as simple as the 'owners approach' and the ethos in the company? It can be, but it's not just that easy. Attitudes are difficult to change, but not impossible. Let us put it simply, if you aim to grow by 30%, and you only achieve 25%, is this failure? Probably not. However, if you aim to survive, and you underperform this target, … [Read more...]
