People | SGBA - Transforming businesses

Survive and then Thrive – UK Business Advisors are ready to help

09/04/2020 By Gordon Carmichael

Other than the cruel personal impact of COVID-19, there is unequal pain and gain for UK businesses. Hospitality businesses are grounded and businesses with sought after services and products are struggling to cope with demand and managing their supply chain.

There is no one magic solution for all!

More than ever, business leaders need to keep a cool head and make the right short term decisions to enable their business to survive or operate differently. Supporting staff as far as possible is a defining characteristic of well-led businesses. The businesses that make the right decisions now and plan effectively for how to be prepared to thrive in the recovery should have a bright future post coronavirus.

You are no doubt being bombarded by emails and other communications offering advice, help and “seven steps to solving everything”. The UK government has announced an unprecedented range and magnitude of support for businesses and employees – you will have found that many of the offerings are work in progress. Make the most of what is on offer from the government to stabilise your cash flow and support your staff.

As premier business advisors to SMEs we have activated our nationwide network of experienced advisors to help businesses survive and then thrive. We can provide initial support, be a sounding board for decisions and share our experience, at no cost, over the phone or by video call.

You are encouraged to visit our support page at https://ukba.co.uk/coronavirus/

When will the recovery start to emerge? Clearly it is too soon to say. However, you should plan on sensible scenarios and refine these as the COVID-19 crisis develops. We really can help with this.

Fortunately, by using technology and digital tools many businesses have been able to have some or nearly all their staff working from home. For tech smart businesses this was a minor change, as they were already using conferencing, mobile technology and collaboration tools. They had tested their systems and contingency plans for mass home working. For others, this was a huge shock and a steep learning curve. Shortages of some IT equipment has not helped. IT support companies have had massive increases in demand while also moving staff to home working.

Forward-looking companies that have had to furlough employees to protect their business and jobs are investing in online training so that staff can upskill while at home.

A whole new lexicon has emerged into common usage, for example, Zoom, VPN, Slack, Webex, Zoho and Teams. Video call etiquette is still developing!

If you are one of the many businesses that need people in a work location or in the field providing key services, then you are dealing with significant challenges not least ensuring the safety and wellbeing of your workforce.

Some things will be different post coronavirus:

Businesses are likely to retain newly found remote working and collaborative practices.
New competitors will emerge as businesses pivot to change their offerings.
Some businesses will, unfortunately, cease to trade, but others will start up and flourish.
Suppliers and customers are likely to reward companies that treated them well. Employees that were fairly treated will be more loyal.
Companies that have acted in a mercenary way are likely to have damaged their future once the dust clears. Their staff, customers and suppliers will remember.

It will surely endure that businesses that take quick informed decisions, plan well and lead strategically will be the stars of tomorrow.

If you need guidance for your business and want to thrive please visit https://ukba.co.uk/contact-urgent-support/ and contact us. There is no charge for the initial conversation. We are ready to help and have an extensive network of experienced advisors across multiple disciplines.

Keep safe and plan well.

Gordon Carmichael

Chair UK Business Advisors

Is failure to update your website harming your business?

26/03/2015 By

So many websites have the following messages:

“From all our team we wish you a Happy Christmas.”

“Come and visit us on stand H331 at ‘Pharmaworld Exhibition’, 17-19th November 2013 in London”

Does your website welcome visitors with these out of date messages? There are many out there that have similar. Not months but YEARS out of date.

So, what does this say about the way you manage your business? Perhaps you do not pay attention to detail, the very detail that differentiates between the ‘acceptable’ and the ‘excellent’.

For many, your website is your shop window. Would you expect to see Easter Eggs in a shop window in October, when the shop next door has haloween products?

The lack of attention is sadly widespread.

So, a simple message, keep all up to date. Make sure you review your website regularly.

Be professional.

And for those reading this, delete the following sentence as applicable.

Happy : Easter / Christmas / Halloween / Birthday

And dont forget to call in to our stand at Wembley, 30th July 1966.

Want an impartial review about how your online presence can affect your business? Call us on 0333 444 8522 or 0787 967 6435.

Do we need to reassess our Export Markets?

06/02/2015 By

Exports have always been a large part of SME activity.

There has been much said about our special relationship with EU countries. However, uncertainty with the Euro means that many are becoming nervous about this business. Together with the potential for an ‘IN / OUT’ referendum on the EU, there could be turbulent times ahead.

Of course Euro giants like Thales, Siemens, Santander, and Mercedes will still want to trade ‘tariff free’ with the UK in the event that a vote made an EU exit inevitable. So, perhaps the relationship that Norway and Switzerland has with Europe would be the model. Who knows?

In reality UK business has been guilty of letting certain special relationships slip when it comes to Exports. Let us take Canada and Australia for example. Both countries share the same language (in the main). They also share the Monarchy, our Royal Family. In the past we did some great business, but we appear to have taken our eye off the ball, and Asian companies have benefitted.

Back in the 1980’s, for every £1 in value we exported to the USA, we exported approximately 25p to Australia and similar for Canada. Today, it is less than 5p in comparison with the USA. Whilst we have clearly nurtured USA relationships, we are guilty of paying scant attention to our closest allies.

Asia has undergone great changes. Manufacturing is not as attractive as it was. So, perhaps now is a good time for Exporters to reassess where they sell to.

If you would like an informal talk about your export markets, aspirations and frustrations, then why not call us?

Call us on 0333 444 8522 or 0787 967 6435.

What can Small Busines do to help UK Balance of Payments?

21/01/2015 By

The UK Balance of Payments is a sorry story.

In short, we buy much more stuff from overseas than we sell overseas, and have done for many years.

Some items, such as raw materials, and highly specific components we have little choice other than to import. But other decisions we do have a choice. For example, deliberating whether to get an Audi or BMW as your next company car? Why not consider a Jaguar?

Simple purchasing decisions can make a difference, and the greater prosperity we create in our own market the better, and the more likely there is stability in terms of taxation.

Clearly International trade is very important. Both Imports and Exports have a vital part to play in our economy.

So, what can the export orientated small business do to help rebalance our imports/exports? If all exporters grew their overseas sales by 20% it would make a great difference. Very easily said, but often difficult to achieve.

Many companies sell their products through distributors. A sensible and potentially lucrative route for many companies.

I have spoken to many business owners who have said : “We operate overseas through distributors, but they dont do much”. I generally counter this with “Well, what is your strategy with your distributors?” The response is usually highly dismissive, in other words, they have no strategy for distributors.

So, where does the fault for lack of Distributor sales fall? Of course each case is different.

Simple Distributor programmes of reporting, educating, and generally communicating success stories can reap great rewards. All of a sudden the 20% growth in overseas sales can look very achievable.

If you feel your overseas distributors can deliver more to your sales turnover, but not sure where to go, give us a call for an informal chat. Let SGBA help bring some strategy and focus to your exports.

Call us on 0333 444 8522 or 0787 967 6435.

Navigation