Having adequate access to adequate funding is fundamental for any startup. In the early stages of getting your enterprise off the ground, you need working capital to reach the all-important minimum viable product (MVP) stage, rent premises and hire staff. But where does this initial funding come from? Let’s look at the UK Government's Start Up Loan scheme and the funding options it offers.

Question: “Can cost-saving measures in the business truly be a key driver of profits?” Running a profitable business is one of your key goals as an owner. Without profits, there’s no capital to reinvest in the business, no funds to grow the company and no money for your own dividend payment at the end of the financial year. So, is cost-saving the answer in these challenging economic times? Answer: “Careful management of costs is a fundamental way to improve your profit margins and profitability as an enterprise” Cost-saving measures will have a direct and measurable impact on your profits. This is usually achieved via two main mechanisms. Firstly, reducing your variable costs (like raw materials or direct labour) increases your gross profit margin. This retains more revenue from each sale you make as a business. Secondly, lowering fixed overheads (such as rent or software licenses) directly reduces the total expenses on your profit and loss statement, leading to a higher net profit. This immediate bottom-line improvement makes you a more financially healthy prospect to investors and lenders – which, in turn, can often make it easier to access funding and grow the business. Want to know more about cost-saving measures?  Talk to the team about your profit goals and we’ll advise you on the key ways you can reduce your overheads and expenses to drive improved profits.

We all hope that our pathway along the business journey will be smooth and uncomplicated. But the reality is that accidents can happen, along with unplanned injuries, damaging weather events and legal suits from disgruntled clients. So, what can you do to protect your business from these potential negative consequences? The answer is to take out the relevant business insurance for your company.

Budget 2025 announced a forthcoming rise to both the National Living Wage and the National Minimum Wage, with the aim of keeping wages in line with inflation.

"Gone are the days when flexible work was a perk. Whether it’s hybrid roles, remote options, or custom hours, flexibility has become a baseline expectation." - Recruitment Trends for SMEs by Onside. The pandemic may have introduced us to the idea of working from home, but the ability to flex where we work from is now a core expectation for many employees.

“Q: Do customers still want good, old-fashioned customer service?” Customer service has changed. We now have multiple options for automating our customer interactions or offering self-service options to our customer base. Customers can talk directly to AI agents or sort out a query with an automated chatbot. It’s fast, efficient and (from your viewpoint as an employer) highly cost-effective. But is automated customer service always the best option? In an environment where your customers are surrounded by digital interactions, wouldn’t it be nice to offer a more human and personalised level of customer service? And does that mean hiring more staff? “A: There’s still great value in personalised customer service.” Fundamentally, customers are still seeking out the human element of customer service, amongst the sea of digital and online noise that we’re now surrounded by daily. There are three core reasons why customers crave this more personal touch: Trust and empathy : When dealing with complex or emotionally charged issues (like financial errors or faulty products), customers want to talk to a human agent who can demonstrate empathy and take ownership of the problem. Chatbots may be efficient, but they don’t deliver when it comes to customer empathy. Context and recognition : Old-fashioned service means being recognised and having your history remembered. Customers expect the business to know their needs, history and preferences without forcing them to repeat this information. A human agent with access to a CRM system can deliver this recognition in a personalised and tailored way. A need for exceptional service : A recent Australian survey found that 88% of consumers expressed satisfaction with customer service interactions that were managed mostly or fully by human agents. When customers have a good experience with a human agent, this increases their brand advocacy and can also generate positive word-of-mouth referrals (one of the best ways to attract new customers). The impact of human-led customer service can be immense. AI agents and software automation can boost your overall efficiency for many simple tasks and customer interactions. But having the human touch drives customer loyalty, retention and your competitive advantage. Hiring more customer service staff (and investing in their training) could be a way to find your own competitive advantage as a business.

Is your cashflow position keeping you awake at night? Don’t worry, we have five simple tips to improve your cashflow management and achieve a positive cash position.

As a business owner, it’s never been more important to have a good grasp on your finances. For many businesses, priorities have changed, customer behaviours have mutated and revenue streams have had to evolve and pivot in order to maintain a profitable business model. To track, monitor and drive your financial performance in this updated business environment, it’s increasingly important to have a handle on your key financial reports and metrics.

The latest edition of the Federation of Small Businesses’ (FSB) Small Business Index had some unexpected results when it comes to growth expectations of UK small businesses. 27% of businesses said they expected their business to shrink, close or sell up over the next year. This outweighed the 25% who predicted their business would expand over the same period. It’s the first time in the history of the SBI that expectations of contraction have outnumbered those of growth. And it underlines a growing trend.