Only 32% of SME businesses have sought external advice or information on matters affecting their business in the last 12 months. Source: BIS
Less than 5% of SME businesses had significantly increased growth plans for the coming 12 months. Source: BIS
Of the SME businesses that sought advice in the last 12 months, 28% needed help with their business strategy. Source: BIS
70% of businesses questioned didn’t seek advice o key issues because they felt it was too expensive. Source: BIS
61% of business owners didn’t know where to go for business support and advice. Source: BIS
49% of start-up businesses will cease trading within 5 years. Source: BIS
42% of SME businesses view cash-flow as being an obstacle to the success of their business. Source: BIS
38% of SME businesses sought finance to support working capital and cash-flow. Source: BIS
Only 28% of SME businesses increased their annual turnover in the last 12 months. Source: BIS
Only 41% of SME businesses anticipated a profit / surplus increase when compared with the previous 12 months results. Source: BIS
Small Business demand for external finance is at the highest level seen since December 2007. Source: BIS
8% of SME businesses anticipated closure or a transfer of ownership in the next 12 months. Source: BIS
Only 39% of SME’s were ‘very confident’ of success when applying for finance. Source: BIS
Of the SME businesses that sought advice in the last 12 months, 51% needed help with their key financial issues. Source: BIS
Only 11% of SME businesses are planning to move premises in the next 12 months. Source: BIS
Only 34% of SME businesses reported any new or significantly improved processes in the last 12 months. Source: BIS
Just over 50% of SME businesses delivered new or significantly improved products or services in the last year. Source: BIS
76% of failed businesses suffered from either weak financial management or weak marketing capabilities. Source: BIS
Businesses with fewer than 20 employees have only a 37% chance of surviving four years and only a 9% chance of surviving 10 years. Source: BIS
Over 25% of owners feel their marriage or personal partnership have been adversely damaged by their business and are left too tired for sex. Source: BIS
Only 35% of SME businesses felt they have a ‘very good’ relationship with their bank. Source: BIS
62% of business owners didn’t feel they could trust the business advice that was currently on offer. Source: BIS
48% of owners didn’t feel that the right type of advice existed currently for their business. Source: BIS
Only 16% of businesses had used some form of business mentor in the last 12 months. Source: BIS
87% of consumers believe that SME businesses are a critical element of the overall economic health. Source: BIS
48% of SME owners say what they need most to stay afloat through the recession is more customers. Source: BIS
Of the small businesses that sought advice in the last 12 months, 23% needed help with their marketing and advertising. Source: BIS
Only 39% of SME businesses have recruited new employees in the last 12 months. Source: BIS
Just 30% of SME businesses are planning to recruit any new staff in the coming year. Source: BIS
14% of SME businesses feel they will need to lose staff in the next 12 months. Source: BIS
Less than 40% of SME businesses plan to undertake any staff training in the next 12 months. Source: BIS
Less than 40% of SME businesses invested in training to develop Leadership and Management skills. Source: BIS
Over 40% of SME businesses have no idea how much their recruitment and selection costs. Source: BIS
80% of business owners admitted to having a problem in successfully balancing the competing demands of work and home. Source: BIS
Every business owner deserves the right to learn how to increase sales, multiply their profits with our help you can! Source: BIS
Using your historical accounts & external market indicators, a financial forecast should be your best guess of what the future holds for your business.
Accounting software records your financial activity which you will soon come to rely on to give you critical information about the health of your business.
Benchmarking is a self-improvement tool for organisations. It allows you to compare yourself with others, to identify your comparative strengths and weaknesses and thereby develop an improvement plan.
Seeking feedback from your customers via a focus group is a fantastic way to quickly ascertain how fit for purpose your products and services really are.
A good leader offers direction to people, gets them to buy into their vision for the business, and creates the conditions for their people to achieve great results.