Business advice news | UK Business Advisors

Getting Brexit Proof: Tips for researching new Markets for 2019

February 3, 2019 By Gavin McWhirter

Concerns about how Brexit might impact export expansion plans are completely understandable, but it should not hold you back. You just need to get serious about how you research and plan your export strategy.

That strategy should form an integral part of an up-to-date business plan, which must include your business objectives for the next 2 to 3 years. I always find setting a target is good place to start, as without it you have no objective measure of whether you have succeeded or not. Once you have a clear goal you can then work through the steps of what needs to be done. A revisit of the business plan should include an updated assessment of risks, as well as the opportunities, ensuring the business is as resilient to external shocks or changes as it can be. So while the final shape and terms of the Brexit deal are still unknown, your business will be significantly better prepared for whatever transpires if you take the following action.

Your Strategy

A strategic analysis of your business can take a numbers of forms. It is helpful to involve someone external to the day to day running of the company, not because they have a magic box of answers, but they can help you step back and see a bigger picture.

A simple tool is a SWOT analysis (Click here for a helpful, free guide from Hubspot). If you are working on an export plan, you may want to centre the SWOT analysis on the product or service you want to export. If you do this, make sure you consider the potential negative impact on the rest of the business. For example, allocating your best sales person to focus on this new export market could affect domestic sales.

Another great strategic tool to use is the Business Model Canvas. This requires you to summarise the key aspects of your business on one page, breaking it down into 9 components. This includes defining the value proposition and clearly articulating the value that your customers derive from using your product or service. Understanding that is critical. If you are looking to export, the value that customers derive from your product in that new market may be completely different to the domestic experience.

The combination of these two tools helps to provide a framework to assess the competitive strength of your businesses in your target market, as well as your resources and capabilities.

Your Team

It sounds obvious, but be very wary of the seemingly well-connected stranger you meet at an exhibition or trade fair who is looking for an exclusive deal to be your local distributor. It is surprising how often something like that happens, and rarely works out well. Another classic mistake that is ripe for failure is taking on a lone, local sales person who you manage remotely. Four months of high activity, three months of excuses, and two months getting rid of them – and then you’re back at ground zero having wasted tens of thousands of pounds and hundreds of hours of management time.

Make sure you are aware of local employment laws. In some markets it can be hard to get rid of people, even if they are clearly under performing.

Who in your team will be leading the export plans and who will be supporting them? What impact will this have on their existing roles? What experience or knowledge already exists within the business of this new market, for example have you asked if anyone has language skills? Does your management team have experience of growing exports in to other markets? You need to realistically assess their ability to deliver on your objectives.

It is a good idea to identify at least one advisor with knowledge and experience of the market who you can trust to support you in your growth plans. It is better if this is someone you identify through your own research and connections, rather than someone who finds you.

Your Market

Selecting the right market to focus on is clearly important. Make sure you take account of the real basics, such as the cost of getting there, any language skills required, and the cultural differences (more on this below). Extensive market research is essential when assessing a place you hope to export to. You can do this yourself, and there are some fantastic resource available (including via the British Library) and a UK Government service to help develop your export Action Plan.

If you want to ensure you have covered all the bases and done a robust job, then it is advisable to get someone with experience to complete this task for you.

The research work you conduct will need to include a detailed look at your target customers, the channels to market, and should also highlight considerations that will influence your local sales & marketing strategy. Thought needs to be given to ensuring you gather useful market intelligence and your ability to respond to this data. Relationships that you probably have with customers at home can provide valuable feedback, so be aware of the potential for your business to lack that kind of interaction in an export market, particularly if your route to market is different than at home.

When you research your competitors, it can be helpful to consider not just how they operate now, but how they might respond to your efforts to take some of their market share. You do not want to be defined by your competitors but you need to know you compare against them, where you are stronger, as well as where you are weaker.

Your Commitment

Exporting is not easy. But if you have proven your business model can operate successfully in the UK, which is a highly sophisticated and competitive market place, then there absolutely will be market opportunities for you elsewhere in the world. However, do not under estimate how long it may take to become established in these markets, and how much it may cost. You need to consider what resources you can allocate to developing export sales, and then understand what success will look like in 12 months from now, or 2 year from now.

Existing customers

You have existing customers, and they may well be operating in other countries too. You should ask their advice on how they built their businesses in these markets. If they use your products and services locally, they may well be willing to introduce you to the operating companies in the other markets. And even if that does not work out for you, the fact that they are a customer in your local market may mean you can reference them as a customer and the brand or company name may be recognised and respected to give you instant credibility in the export market.

Business culture

We have all seen the HSBC adverts that highlight the cultural differences between the UK and China, underscoring how important it is to understand local cultural issues. I like to think of people I know from different parts of the UK, whether Welsh or Scottish, Liverpudlian or southerners… I have perceptions of these area of the country and the people who live in them, and know that everyone else does too. And that is just the UK. The rest of the world is like that too, with regional differences within nations, and national traditions and ingrained ways of behaving that are different from our own.

Understanding, respecting and adapting to those cultural nuances can be the difference between success and failure.

Geography

The UK is a relatively small country, physically (the straight-line distance from Land’s End to John o’ Groats is 603 miles), but even here many companies do not actively target the whole country, or even the whole of England. France is about twice the size in terms of square miles, although the population is about the same as the UK.

When you look at a large target market, you may want to consider an initial focus on one region. Look for clusters of expertise aligned to your own business area, and understand why that cluster exists where it is. That may make it the ideal starting place for your business, or the best place to avoid!

Do not overstretch your resources and capabilities by taking on too much at one time. It may be impossible for one partner, agent or employee to handle multiple territories.

Currency

Currency can cripple a business and this will not change with Brexit, but the Brexit debates have contributed to some significant currency variations, and that and other shocks may well continue. So you need to understand the potential impact; consider how your goods and services are priced; know where your costs are incurred (locally or in the export market); and how to efficiently repatriate funds.

Conclusion

At home you will know the profit margins of your products and services. When starting on an export journey you need to consider all the elements that could affect that margin, and plan how you structure and manage your operations to ensure you remain profitable. There can be additional costs associated with exporting, whether that is transport, dealing with returns, additional customer service costs for multiple languages, tariffs, customs paperwork, compliance with local regulations and tax regimes, or currency fluctuations. All of these can all eat through the profit margin. Map out a range of scenarios, from worst case to best case.

There are obviously advantages to exporting as well. Sometimes margins are higher, costs lower, and the business can benefit from efficiencies of scale. Having sales in multiple markets also means you are less exposed to local downturns in spending.

Contact Gavin McWhirter on 0773 6060230 or gavin.mcwhirter@lgbusinessadvisors.co.uk to discuss your growth plans, whether looking to research a potential export market or expanding into the UK.

Gavin McWhirter has over a decade of experience working with SME’s to develop sales, marketing and market research strategies, and supporting the execution of those plans.

Are successful business leaders born or made?

February 3, 2019 By Lesley Anne Rubenstein-Pessok

The answer to this poser invokes the old, ‘nature’ versus ‘nurture’ argument. Maybe we need to study twins who were separated at birth, where one became a business leader, and determine what happened to the other? In the real world, business leaders, like any other leaders, come in all shapes and sizes. If you studied a group of successful business leaders from various industrial sectors, I would hazard a guess that they would have different personality traits and backgrounds.

The variants are likely to be greater still according to discipline. Successful business leader in the financial sector are unlikely to have the same personality characteristics as one in the high technology sector or in the hospitality arena. An accomplished executive in the insurance sector, however, may very well have more in common with a leader of a banking institute. I’m making some assumptions here, but I wouldn’t be surprised if you are in agreement.

Are business leaders born or made?

Before we answer that question, let’s list some of the traits we would expect to find in a great business leader:

Visionary
Decisive
Motivational
Confident / Assertive (but not a bully!)
Likeable
Mindful
Collaborative
Inspirational
Great listener
Integrity
Intelligent
Respectful
Empathetic
Ability to prioritize
Create emerging leaders
Flexibility
Non-judgemental
Empowering
Optimistic

Can we learn to become a better business leader?

There is nothing in this list that cannot be learned or improved upon by a determined individual. One can read books, study, attend workshops, take drama classes, do mental exercises, etc. to gain many of the qualities listed. One can even be trained into ‘thinking big’. Mentors will often determine a CEO’s mental obstacles to growth and ask pointed questions to help him/her see what is holding them back. For example, now in its tenth year, the annual Women into Leadership conferences is a key event for all those interested in seeing leadership opportunities for women enhanced. Women into Leadership 2019 will examine how female leaders, at any grade, can enhance their skills to become the leader they aspire to be.

Acquiring listening skills

In my own ‘Effective Leadership’ business workshop, we spend time in an interactive exercise to experience both good and bad listening skills, and what it takes to become a good listener. Listening and empathy are crucial leadership qualities to my mind. The core skill is not just to listen but also to learn to interpret what is said, both verbally and non-verbally.

How important is it to have empathy as part of your leadership skill-set?

A simple way of describing empathy is when we can visualise, identify being in the other person’s situation, and being able to communicate our feelings to the other person. Sometimes, to show understanding, we need to show vulnerability and describe something we have experienced which may not be showing us at our self-assured best. Think back to the last time you were upset about something you felt was important, and you expressed your feelings and the person you were confiding in understood and empathized. How did that make you feel?

What about confidence?

Listening and empathy are important, but confidence is also an essential leadership trait. As mentioned above, there are mental exercises to acquire several of the traits listed and practise does make perfect. ‘Fake it till you make it’ is another way of saying this, although I’m not sure I particularly advocate that saying as I don’t like anything fake. But if we take ‘confidence’, for example, and practise acting confidently in a drama class, it would be something we could pretend even if we aren’t feeling particularly self-assured. No-one will take direction from a dithering leader in a crisis, and the ability to hide one’s emotions where necessary and appear confident, is a crucial quality in a great leader.

Born leaders

Some people, however, will be perceived as ‘born leaders’, either because they make it look easy, and/or because from an early age they presented leadership qualities. I’m sure we can all summon up a picture of a child in the playground telling the other youngsters what to do and how to do it, and envisage those children following the instructions. Does that mean the child is a born leader? I would argue that some traits may come naturally but many will be determined by life experiences and education in both home and school environments. If a child is bullied, for example, that same child will often become a bully; though this will not apply in all cases. Chains can be broken. Note: not even great business leaders are infallible, and no-one always gets it right and, on occasion, we may mistake luck for great leadership.

In conclusion

Whether or not you are fortunate to have been born with some, most, or all the leadership qualities mentioned in this article, you can work on, and exercise, your leadership skills your entire life.

So, are business leaders born or made? It is not possible to give a conclusive answer, but either way, you can strive to be a better leader and never stop improving. Being a great business leader will serve you well in all walks of life. It’s up to you!

About the author

LGBA Associate Lesley Anne Rubenstein-Pessok, has spent her whole career in executive roles, working with and training start-ups and SME businesses, helping them to become more efficient, increase turnover, improve profitability, cost effectiveness and create strategies that pay off. She is an approved mentor for the London and Partners’ Business Growth Programme, as well as for other public funded programmes. To find out more about Lesley’s mentoring and business advisory services contact her by email at Lesley.rubenstein@lgbusinessadvisors.co.uk or call her on 020 8868 3163.

How to design a robust profit-sharing bonus scheme for 2019

January 24, 2019 By Stephen Cowburn

In the last newsletter we talked about what to do about awarding a Xmas bonus. [If you missed it click here to find it] Now we talk about putting a bonus scheme into place for 2019.

If your financial year-end is say March, the next few months could be a good time to develop and trial a scheme before launching it in April.

What should l incentivise people on?

The profitability of the business is a simple way to measure business success. If there is a large minority of support staff then you might also consider cost-savings/efficiency savings as being the other side of the profit coin.

You might be tempted by the achievement of individual objectives. Our general experience in the SME space is that staff appraisals don’t happen consistently enough so we wouldn’t recommend a performance pay system based on the achievement of individual objectives, as MDs usually haven’t the infrastructure in place to make this watertight.

What do l need to do first?

You will presumably have a business plan and a budget. Interrogating the likelihood of achieving a sufficient profit to be able to afford a profit-based bonus is the first step. If your assessment is that the profit figure is going to be insufficient consider the criteria for your top people as a pre-cursor to offering a wider profit-sharing scheme.

You need good data so you need accurate monthly management accounts to monitor profitability and to be able to communicate progress easily, to your management team and then staff, post launch.

You may have bespoke software if you run a sales based, or project-based, organisation enabling quick assessment of profitability if looking to incentivise individuals.

If you don’t have either of these, this is the immediate focus. Inaccurate data is guaranteed to lead to issues later on – employees will think one thing, you as MD will think something else and trust and credibility will dissipate in the event of misunderstandings or disputes.

Anything else pre-launch?

Test the model you are proposing. Does the maths work? Are there any unintended consequences? Are there grey areas? (if so tighten the scheme up). Will it clearly drive the behaviour you are looking for? Test it with other Directors or advisors to ensure the outcomes you seek and that the wording is clear with no ambiguity.

Plan the communication – what are the goals? What are the rules going to be? (For example, is there to be a hurdle rate before any bonus is paid out? What are you going to offer joiners or leavers within the period of the bonus scheme?)

Use worked examples so people can see what needs to happen to qualify for a bonus and how the scheme is going to work in real life.

Rather than say there will be a predetermined formula for distributing a fixed percentage of profits, we would suggest an approach where there is a company profit threshold below which no profits will be distributed and that there will be maximum limits set on the proportion of profits that will be distributed (say 5%) and/or the percentage of salary that will be distributed as a profit share (say 10%).

Having launched, what do l do then?

Regularly communicate performance at monthly management meetings and provide a general status update (verbally) to all staff on company performance ideally quarterly. The purpose here is three-fold:

To manage expectations if performance is below expectations
To give people a steer as to what needs to be done to get back on track.
To encourage staff retention by communicating the likelihood of a bonus pay out

Ensure that you pay the bonus when you say you will.

A chunk of our work comes from resolving disputes between employees and the Owner. It usually comes down to poor wording or a misunderstanding on how to get a bonus. The scheme rules are important but they need to be watertight pre-launch. You are likely to run into trouble if you try and change the rules midway through the year because of ambiguous wording.

So wherever you are in your business cycle, and whatever you want to do, if you feel the need for a fresh, neutral pair of eyes give us a call for an initially free consultation.

Contact stephen.cowburn@lgbusinessadvisors.co.uk or 07974 425361, for a focused discussion.

Top Tips for Foreign Nationals Setting Up Business in the UK

January 24, 2019 By Richard Wickes

In December 2018 Forbes Magazine placed the UK as number 1 in its list of Best Countries for Business. There is no doubt that the UK offers tremendous opportunities for businesses to be set up and to thrive. However the fact that this is so well recognised means that it is also probably the most competitive country on earth for businesses. You need to make sure that all aspects of your UK operation are run to the highest professional standards in order to succeed.

The aim of this article is to give you some tips as to how to setup a company in the UK.

Visa. If you do not already have the right to live and run a business here you will need a Tier 1 Entrepreneur Visa. For this you will need to invest a minimum of £200,000 in your new business and employ yourself and take on at least two members of staff in the first two years.

Business Idea. You need to start with an idea of what product or service you want to sell. The first step is to think who might buy your product and why. You need a USP (Unique Selling Point). You must think very carefully about why anyone would buy from you. It may well be that your home country has products or skills that could be useful to businesses or people in the UK.

Business Name and Registration. You will also need to choose a name for your business. You will probably want to choose something that stands out and perhaps describes the business you have in mind. In most cases you will be setting up a Limited Company. You will need to register that name with UK’s Companies House so you need to ensure that there is not already a company with your chosen name. UK Company registration details are in the public domain. You can look at the Companies House website for individual names or download a complete list for free here.

Banking. You will need to set up a bank account for your business. Banks are keen to attract new business customers, but stringent money-laundering regulations mean they will need to satisfy themselves that your business is genuine. They will be even more rigorous if you are transferring money from outside the UK. At least one director of your business will need to have their main residence in the UK.

Finally. There are many things you have to do before you start trading here. It is unlikely that you will have the skills to do all of them yourself. In those areas where you do not have experience it sensible to seek professional advice from specialists who have the relevant expertise. United Kingdom Business Advisors (UKBA) is an excellent source of skills in all aspects of setting up and running a business.

For more advice on setting up a business in the UK contact Richard Wickes at Richard.wickes@lgbusinessadvisors.co.uk or call him on 00 (44) 20 7731 0853

A Simple GDPR Audit for most small companies

May 4, 2018 By bob.basson@tvba.co.uk

To be ready for May25th and the need to conform to GDPR

This does not include DPO, as you won’t need one.

Information you hold You should document what personal data you hold, where it came from and who you share it with. You may need to organise an information audit.

Communicating privacy information You should review your current privacy notices and put a plan in place for making any necessary changes in time for GDPR implementation.

Individuals’ rights You should check your procedures to ensure they cover all the rights individuals have, including how you would delete personal data or provide data electronically and in a commonly used format.

Subject access requests You should update your procedures and plan how you will handle requests within the new timescales and provide any additional information.

Lawful basis for processing personal data You should identify the lawful basis for your processing activity in the GDPR, document it and update your privacy notice to explain it.

Consent You should review how you seek, record and manage consent and whether you need to make any changes. Refresh existing consents now if they don’t meet the GDPR standard.

Children You should start thinking now about whether you need to put systems in place to verify individuals’ ages and to obtain parental or guardian consent for any data processing activity.

Data breaches You should make sure you have the right procedures in place to detect, report and investigate a personal data breach.

Data Protection by Design and Data Protection Impact Assessments You should familiarise yourself now with the ICO’s code of practice on Privacy Impact Assessments as well as the latest guidance from the Article 29 Working Party, and work out how and when to implement them in your organisation.

International If your organisation operates in more than one EU member state (ie you carry out cross-border processing), you should determine your lead data protection supervisory authority. Article 29 Working Party guidelines will help you do this.

Teaching Old Dogs New Tricks

April 12, 2018 By bob.basson@tvba.co.uk

UKBA recently held one of its bi-annual National Conferences, the chance to meet up with colleagues you don’t see between one meeting and the next, apart from exchanging emails. Really good to renew relationships, discuss common issues and concerns, and generally realise that you’re not alone out there in the big wide world.

A common trait we all tend to fall into through time is that we have been there, done that, T-short and all, and believe we know what we are doing well enough. So, first a simple question, could you pass your driving test if you had to take it again? Old habits picked up as tempus fugits, aren’t always the best ones to continue with, and you don’t always realise you have them.

One such event in the dim and distant past was being sent on, not again, a Sales Training course. As circumspect as one might have been at going to these, there was always something that you finally realised was beneficial.

Which brings me back to the National Conference. As usual we had a guest speaker, it was Will Kintish, who spoke to us on the subject of Networking – no not the one with lots of ethernet and wi-fi, the one where we go out and make contact with other folk as a part of promoting ourselves and our businesses. Even though you are an old hand at this, his presentation brought a refreshing reminder to all of us on how to network, the ways to work the room, the people and the sticky situations; well worth a follow up via YouTube if you don’t want invest in a face to face with him.

And the moral of this? You may not be able to teach old dogs new tricks but you can certainly get them to improve the ones they already now.

And that is also what UKBA, and the Local Groups that operate all over the country, can do for you. Local Advisers, with their wide spread of skills and experiences are there to help, advise and assist in more ways than you could imagine. Time spent working through our sites could be a worthwhile investment for the future.

IT Support, Fundamental Policies for Your IT Department

October 10, 2017 By bob.basson@tvba.co.uk

As an expert in IT support for small business, I routinely work with clients looking to fully establish an IT department after previously relying for years on the collective efforts of multiple employees from other departments. Establishing a dedicated IT department is certainly no small undertaking. But it is necessary for a small business with IT tasks that have evolved into full-time work.

Whether establishing the IT department for the first time or looking to improve an existing department, I encourage my clients to look at the policies they have in place. Every small business IT department should have a least six fundamental policies that govern how the department accomplishes its mission. Those six policies are explained below.

1. Acceptable Use of Technology

Workers in the IT department have access to all sorts of technology during working hours. A policy outlining the acceptable use of said technology is critical. This policy defines how computers, mobile phones, fax machines, the internet, e-mail, and other technologies are used, along with penalties for misuse.

2. IT Services

In order for the IT department to effectively do its job, staff need to know the full scope of their mission. A comprehensive IT services policy establishes this. It outlines a supervisory structure and addresses the various tasks the IT department will be responsible for.

3. General IT Security

A general security policy outlines how networks and data is protected. It covers things like the proper use of data, the need for confidentiality, and so on. It also creates various levels of access and establishes guidelines for user names and passwords.

4. Networks

Creating a policy that includes guidelines for all in-house networks makes it easier for IT workers to know how those networks are configured, how employees are added and removed, how software is licenced, etc. A good networks policy can answer many of the questions not covered in the other five fundamental
policies.

5. Technology Standards

This policy outlines how software and hardware is purchased and used within the company. It also includes policies regarding any technologies that are banned in the workplace.

6. Disaster Recovery

Every IT department should have a solid disaster recovery policy in place. This policy dictates how the IT department will recover in the event any kind of disaster threatens network integrity or stored data.

Making the IT Department Work

Every small business IT department should have at least these six policies in place. It is fine to include additional policies as-needed, but these six are non-negotiable. They provide the foundation for making the IT department work efficiently and securely.If you are in need of IT support in Reading, please contact me at your earliest convenience.
I would be more than willing to discuss all your IT support needs, including developing comprehensive policies to govern your IT department. Remember that the success of any small business IT department depends heavily on the policies in place and how strictly those policies are followed.

Why Remote Network IT Support For Small Business Is Critical?

August 7, 2017 By bob.basson@tvba.co.uk

In the digital age in which we now conduct business, having a reliable and robust IT system is not an option. Everything from internal computer systems to local and wide area networks have to be up and running at all times. To lose access to computer systems is to lose access to one of the most important tools for doing business in the modern era. To that end, IT support for small business should always include remote network support.

Remote network support is that support offered by consultants and technicians not located on the client’s physical premises. It can be offered over the phone, via video conferencing, or through logging on to an actual network for troubleshooting and repair. More importantly, remote network support is now considered mission-critical. It is as important to business as computer systems and networks themselves. Below are three reasons that make the case for having remote network support in place at all times.

3 Reasons for Remote Network IT Support For Small Business

1. Problems Cannot Be Scheduled

Wouldn’t it be wonderful if management could schedule when IT problems would occur? They could then make sure they had support specialists on-site to have those problems dealt with. Unfortunately, problems cannot be scheduled. They come and go on their own time irrespective of whether their appearance is convenient or not.

Remote network support gives companies access to support specialists regardless of when problems occur. Indeed, support is just a phone call or text message away when companies contract with a competent support provider.

2. Response Times Are Faster

What is the main advantage of doing things online? Speed. Staff use e-mail to communicate in-house because it’s faster than running around the building looking for the person you want to speak with. Customers interact with businesses online because it is much faster than waiting in queue on the telephone. Network support works the same way.

Remote network support is, by its nature, heavily focused on doing things online as much as possible. That means faster response times from consultants and technicians. It means faster solutions more often than not. If anything, IT support for small business needs to be fast.

3. Remote Support Is More Flexible

Lastly, remote network support is generally provided by individual contractors or small companies supporting multiple clients simultaneously. In this regard, IT support for small business is a lot more flexible in that companies can utilise the services of support specialists only when they need them, rather than having to maintain their own staff of support specialists. This increases the flexibility of support without straining the company budget.

IT support for small business is the new normal in the digital age. If that support is to be utilised by small business to its fullest potential, it must include remote network support, which is now mission-critical. Remote support is available 24 hours a day, it is faster and more responsive, and it is flexible enough to meet the needs of clients regardless of their size and annual turnover.

Ransomware: What It Is and How to Avoid It

May 12, 2017 By bob.basson@tvba.co.uk

How serious a problem is ransomware? According to Symantec, makers of the popular Norton suite of cyber security products, hackers employing the ransomware tactic are making millions of pounds every year. In one particular case they studied, 168 infected users paid a total of £27,064 on just one day alone. Ransomware is big business among hackers who know how to deploy it.

Ransomware: What It Is

Ransomware is a kind of malware that can be embedded on a computer, mobile device or even within a cloud environment. It uses some sort of threat or intimidation to extort payment of a fine. Hackers can completely lock users out, encrypt data so it cannot be accessed, or take sensitive data and spread it across the internet for public scrutiny. The malware uses cryptovirology (the practice of using cryptography to spread malicious software) to get in and take over a device or cloud environment.

The most common form of ransomware is one that encrypts data so it cannot be accessed. Victimised users tend to be more than willing to pay the ransom under the false belief that no one else but the hackers responsible can undo the damage. Rest assured that this is not the case. Security experts are very good at successfully addressing ransomware attacks.

How to Avoid Being a Victim

As a specialist providing IT support for small business, I can say without question that avoiding ransomware is a matter of taking some simple steps to protect yourself. The first thing to understand is that ransomware cannot be installed on your computer by itself. It finds a home by way of malicious downloads, opening infected advertisements, or following links in e-mail.

There are four simple strategies to prevent being victimised:

Never visit untrusted websites for any reason whatsoever

Never click on pop-up ads; use caution with embedded adverts

Never click links embedded in e-mails even if an e-mail looks legitimate, unless you trust or know the sender

Always maintain an up-to-date security suite that includes anti-virus, anti-intrusion, and so on.

The last of the four strategies is the most important. Makers of security suites spend their days identifying and combating all sorts of malware, including ransomware. They issue regular updates that, when applied, will protect most people from being victimised.

For more information about my IT business support services, please feel free to contact me at any time. I would be more than happy to provide a comprehensive health check of your IT system to help you identify potential issues and improve performance.

[Sources: Norton – https://uk.norton.com/ransomware/article]

Utilising a Fleet Effectively to Expand Your Business

May 8, 2017 By bob.basson@tvba.co.uk

(image: Pixabay)

Operating a fleet is a great way to make your business grow. For SME owners, it’s one of the best methods to get your business recognised especially if you’re relatively new in the industry. A fleet can be used to build your brand and The Telegraph showed various ways to do it such as heightening your business’s presence through visual impact and making a statement.

More importantly, however, a fleet’s functionality is unparalleled especially in terms of logistics and service efficiency for SMEs that require mobility. Company cars are even enticers or retainers of top talent considering that they may be provided as incentives for your employees.

But although the benefits of utilising a fleet are easily understood, the same can’t be said for fleet management. According to Small Biz Daily, a fleet may also be the biggest expense for any SME so if you’re unprepared, it can significantly damage your business instead of being an asset for growth. Thus, here are some guidelines to help you manage your fleet effectively.

Evaluate the pros and cons of both leasing and ownership for your business

There are many things to consider when managing a fleet, and at the top of the list is the choice of either ownership or leasing. In most cases, the latter is the better option; more so if you’re business is constantly shifting, i.e. project-based field services. Unless your business is directly related or largely linked to automobiles and any other similar industry, leasing outweighs ownership.

If you’re still not convinced, a report from Fleet News mentioned the additional drawbacks of ownership as compared to leasing. Currently, more than 50% of fleet vehicles in the UK are operated by SMEs and it was found through analysis that managing owned vehicles take up a huge chunk of daily business hours. Majority of SME owners seek assistance on relevant tasks, which can otherwise be reduced through vehicle leases thereby allowing them to concentrate on other facets of growing their businesses. To put it simply, leasing requires less time and costs.

Take advantage of technology and other similar tools

A fleet can be considered a technological investment. In our previous post titled ‘6 Important Technological Considerations for a Start-Up’, we discussed the numerous factors that can affect your business including flexibility and integration. Many of these elements apply to fleet management as well.

Additionally, creating a fleet management system will allow you to gather data which can then be compiled and analysed regularly. This information is crucial for you to know how your fleet is affecting your business.

Acquire knowledge on vehicles or get someone who can help

Another major component for effective fleet management is to know which type of vehicles to get, the advantages of each make and model, what features are available, etc. With all the automobiles out there, it can be overwhelming to decide on which vehicles to take for your fleet.

Furthermore, sustainability is important for SMEs like we’ve mentioned in a past UKBA post so elements like emissions should be taken into account. In fact, it plays a role in reducing costs as you can be charged with higher taxes if your fleet has high CO2 emissions, hence, be sure to consider green cars. This may even work in your favour in terms of your reputation, as it shows that your company is adhering to ecological standards.

Getting someone you trust who is knowledgeable on vehicles that can double up as an insurance broker is also a good option. This person may be tasked to handle fuel and maintenance costs, repair bills, injury claims and other related matters, we offer aurogra.

Invest in the people who will be using your vehicles

Last but not the least, the people who will be using your vehicles should be considered just as important, if not more important that any other variable. Invest in driver training so as to improve their road behaviour and focus on safety. It will equip them with useful knowledge as well such as improving fuel efficiency and proper vehicle handling.

The use of fleet tracking has also been proved to be beneficial. In the Telogis blog post‘Combat Distracted Driving with Fleet Tracking’, it was explained how distracted drivers are costing lives and damaging property including businesses. Through fleet tracking, issues in factors like safety, cost-savings, and efficiency are addressed.

To sum it all up, you can grow your business exponentially through utilising a fleet, but just like your business operations, a fleet also comes with the responsibility of effective management. Thankfully, information that aids its implementation is easily accessible.

For more personalised support in handling your business, you can proceed to our Contact Page to get in touch with an advisor directly.

Written by Alicia Venus
Exclusive for ukba.co.uk

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