SME owners often invest in marketing without having a clear understanding of how to stand out in their market niche, engage with customers on a personal level, or navigate the intricacies of digital channels like TikTok or Facebook. The need for a solid, well-defined...
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Mastering Business Pivot: A Guide to Navigate Change and Seize Opportunities
We are often asked when is the right time to change a business, what are the signs to adapt? Pivoting a business—making substantial changes in core strategy, product offerings, or target market—can be the game-changer between survival and failure. This article delves...
How Should Business Owners Manage Procurement in Their Business When Selling It?
When it comes to managing procurement in relation to selling a business, there are several steps that business owners should take to ensure a smooth and successful transition. Here are some key considerations: Identify key suppliers It's important to identify the...
Seven principles of quality management
A fundamental requirement of ISO9001:2015 standard is for top management to be involved in all aspects of the quality management system instead of delegating responsibility. As part of these responsibilities the ISO9001:2015 introduction makes reference to the seven...
The Benefits of an Environmental Management System
Pressure for corporations to monitor and build upon efficiency in regard to their carbon footprint has never been higher, with estimates that at the current rate, global warming could become irreversible in 2024. Organisations awarding contracts and new business want...
R&D Tax Credit Schemes to Merge – What does it mean for UK SMEs?
The Autumn Statement 2023 confirmed that the merger of UK Research & Development Tax Credit schemes will go ahead as early as next year. This change will be legislated in the Autumn Finance Bill 2023. But what does this mean for Small and Medium Enterprises? I...
How an expert helps unlock growth
Getting an outside opinion helped one food company increase its sales by 10 per cent and diversify its risk profile in a highly competitive market. The business had an opportunity. One of its main customers asked it to take over the manufacture of a high-demand...
Where is your sweet spot for success?
In 2008, a student asked Grayson Perry, Britain's leading contemporary artist, how he figured out what his art should be about. Perry was stumped. It is a question that many business owners grapple with - what do their customers buy from them, what do they want...
How to keep your business on the road
What do we look for when we consider the risk of financial distress? A recent review of a sample of ten companies showing signs of being "at risk of financial distress" found five had an "emphasis of matter" in their auditor's report, and the other five had one or...