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Expanding Your Offering: A Strategy for Growth
As a business owner, have you considered expanding your offering to stimulate growth? Diversifying what you provide can open new revenue streams, increase customer loyalty, and give you a competitive edge. You could develop new products or services that...
Top 11 strategies for taking your profitable business to the next level
Congratulations! Your company has transitioned from startup to profitability—a major milestone that few businesses achieve. However, with success comes new challenges, and the most pressing one's how to grow beyond your current level. Here are 11 things you can do to...
5 Ways To Find and Resolve Problems Affecting Profitability
Using a basic plaster on a major injury means you are going to bleed out. The same can be said for your business when thinking about those problems that impact on your profits. How many times have you looked to get to the bottom of a specific problem, issue, or...
The Effective Management Buyout (MBO) Guide for Small Business Owners
Selling your small business can be a daunting task, especially when you've invested your heart and soul into building it. However, my advice to every entrepreneur is to consider their exit strategy. This guide explores the benefits and steps of an MBO. Remember, UK...
The Cost of Not Taking Risk Seriously
Charities and PLCs have long been aware of the need to assess risk but there is little sign of Owner Managed Businesses following suit. The reason is that the first two have the need to assess risk enshrined in recommended practice (although judging by recent reports...
Eight steps for contract management success
There are eight steps in overseeing and administering the various stages of a contract, from creation to execution and beyond, that business owners must pay attention to. A good process ensures all parties involved fulfil their obligations and meet the contract terms...
The public cloud gives small businesses an edge. What’s stopping you from taking advantage?
On average UK SMEs using the Cloud experience an increase in profitability of over 20%. What’s stopping you from taking advantage?
Don’t let your business fall off a cliff—two areas of risk assessment SMEs should pay attention to
While charities and PLCs formally assess business risks, many owner-managed enterprises fail to follow suit. One reason is that sole traders and partnerships don’t have external stakeholders who require risk assessment. Another is that SME owners believe that the only...
Using Your Assets to Secure Funds for SME Expansion
I’m often asked about alternative ways to raise funds for business expansion. SME’s still struggle to access finance through traditional routes such as bank loans but one way to access the finance you need is to take advantage of your assets. Small and Medium-sized...
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