While the turbulence caused by COVID-19 impacted all businesses, SMEs arguably felt the full force of the pandemic. Multiple lockdowns, financial pressures and the extended closure of high streets across the country were felt the most acutely by SMEs. However, despite the odds stacked against them, many SMEs, cornerstones of local communities and the economy, have pivoted and evolved to thrive in this new retail landscape. Three years on, as businesses can welcome shoppers once again, the retail landscape has markedly changed. Rapid delivery, a lifeline to retail businesses during the pandemic, has become part of consumers’ heightened expectations and…

Most entrepreneurs are busy helping their customers every day. After a while, serving customers becomes routine. You perform your work without giving it much thought. Routine means that you stop thinking about how you do your job; the task is carried out automatically by your body. You are asked the same questions by customers every day and you know how to best respond and what not to say. But what if you suddenly receive a request from one of your best friends? ‘Say, we have decided to renovate our house. Would you be free to lead the project for us?’…

Online grocery retailers are being hit by a triple whammy of fraud as the cost of living crisis bites, according to a new report from Ravelin. A key risk factor for most merchants in the sector is the rise of friendly fraud, which includes chargebacks, promotions and policy abuse by retailers’ own customers. Over a third of finance leaders describe first party frauds including “friendly fraud”, as the number one risk factor facing their business. The rise in this type of customer specific fraud is strongly linked to the cost of living crisis. In addition, account takeover (ATO), and online…

2023 has not been a year for celebration for the UK’s cycling industry, with distributors and retailers alike sharing news of redundancies and closures, and numerous small and independent bike stores being absorbed by the remaining behemoth brands. Factors like extreme inflation, dampened consumer demand and exchange rate fluctuations have all been named as contributing factors. But for consumer-facing retailers, there are some glimmers of light in an otherwise dark and gloomy tunnel. Trading since 1983, indie brand Paul’s Cycles has had a particularly good year, this year – with maintenance services, a renewed focus on selling discounted premium brands…

Nowadays, banks and financial institutions employ a growing wider range of decision making tools. Data gathering and analysis has empowered these organizations to better identify opportunities and estimate the related risks. It is a complex landscape, influenced by many different factors and subjects: technical advancements are pushing the limits of IT transformation and automation in the sector, and banks are increasingly required to answer to shareholders and authorities. One of the areas in which banks and institutions face increasing requirements is that of credit risk, presenting challenges and responsibilities that financial organizations are expected to match. According to a recent…

Selling a business is not only a complicated and time-consuming process, but it can also be highly emotional and logistically difficult for business owners. As such, owners looking to sell should understand and prepare themselves for the demands that a sale brings.   The first step is making that big decision to sell. That in itself is often a huge emotional hurdle and, while it can feel like the beginning of an exciting journey, this step is only the prologue to a much longer story! Once a buyer has been found and basic terms agreed, lawyers are likely to be…

Underutilised tech means money down the drain. Are your employees getting the most out of their tools? To help you answer that question, Caine Harrison, Digital Solutions Specialist, explores the steps you can take to tap into the full potential of your technology. So you’ve implemented an effective hybrid working strategy, and supplied your employees with the tools they need to work from anywhere. Surely you’re now on the road to success? Unfortunately, it’s not always that simple. To see the full benefit of your technology, you’ll need to ensure your employees know how to get the most out of…

Businesses need to implement ‘Health and Well Being’ strategies and set clear guidelines on remote working to help reduce the rise of sick days in the UK which have risen to its highest level in the last decade. CIPD and Simply Health revealed last week that UK employees were absent on average of 7.8 days over the past year with over 76% reporting stress. Matt Dykes, COO, Abzorb provide some advice on How to Reduce Sick Days and Presenteeism. A Tough Few Years This is not surprising as the last few years have been tough due to a myriad of…

To help business customers understand their carbon tracking and prioritise digital inclusion, Virgin Media O2 Business has today launched two new solutions: the ‘Carbon Calculator’ and ‘Tech Donation Programme’. This comes as new research reveals organisations are feeling pressure to make sustainable changes to meet the UK Government’s 2050 net zero target, with a quarter of businesses (25%) without or unsure if they even have an Environmental, Social and Governance (ESG) strategy. For organisations struggling to further prioritise sustainability, financial constraints (50%), lack of staff capacity (38%) and a lack of strategy (19%) are among the key blockers to progress.…

UK households are set to be £3 billion worse off this Christmas compared with last (Q4 2023 vs. Q4 2022), new research from ecommerce delivery leaders, ShipEngine and ShipStation suggests. This is due to high levels of inflation continuing to erode spending power for many households as the cost-of-living climate drags on. The research was commissioned by their operating company, Auctane, in partnership with retail consultancy, Retail Economics. To cope with the ongoing challenge, savvy shoppers report that they intend to start Christmas shopping earlier, use online marketplaces to stretch their budgets and cut back their overall spending. Indeed, UK consumers look set to spend £17.9 billion…

The Arch Company, who manages 5,200 arches and former railway properties, has announced that up to 100 of the small businesses based in its spaces can now claim one year’s supported membership of the Federation of Small Businesses (FSB), the UK’s voice for small businesses, as part of a new partnership. This includes a discount provided by FSB and a £100 per business contribution from The Arch Company. FSB membership unlocks market-leading business services and tools designed to help small businesses to thrive, including financial expertise and support chasing late payments. Through this new partnership, eligible customers who have under…

Fortis Foundations provide civil engineering products and services, with expertise in foundations and piling to the Rail, Civils, Energy, Residential and Water sectors. SMEToday had an opportunity too catch up with the founder, Will Temperley, and find out a little more about the business., With over 20 years of Rail and Construction industry experience, our family-run company provides expert advice and cost-effective solutions to all sectors looking for experts that they can rely on. Delivering safe and sustainable solutions at the forefront of innovation and technology, ensuring the highest quality results first time, every time. Fortis Foundations can assist clients…

It’s a question that lawyers are asked repeatedly. While the simple answer is resoundingly ‘yes’ in terms of basic contract law principles, there are many situations where clients are either unaware a contract has been formed at all, or where their situation could have been improved by having a written one. For clarity and certainty, the golden rule is ‘get it in writing’. A common misconception is that this means a lengthy legal document, signed and witnessed, but the good news is that it can be far less formal. What is a contract? Fundamentally, a contract is an agreement between…

The Information Commissioner’s Office (ICO) is calling on organisations to consider both their legal obligations and their workers’ rights before they implement any monitoring in the workplace.  With the rise of remote working and developments in the technology available, many employers are looking to carry out checks on workers. The ICO has today published guidance to help employers fully comply with data protection law if they wish to monitor their workers. New research commissioned by the ICO reveals that almost one in five (19%) people believe that they have been monitored by an employer. If monitoring becomes excessive, it can easily intrude…

By Damon Anderson, UK MD at Employment Hero It’s September. Summer is over and at dozens of large employers across the UK freshly-credentialed young people are in the first month of their “grad programmes”. It’s no surprise that so many of the brightest graduates head to these programmes. They offer structured development pathways, extensive resources, and access to a network of experienced professionals. But there is no reason SMEs should let larger organisations take all this excellent talent. Why grads can be tempted by an SME Large employers play on their size to construct graduate programmes. Their reputation means their…

Successful branding can make or break a business. For consumer brands, it’s central to building an identity, increasing awareness and carving out a larger market share. So, why do so many B2B companies neglect their branding? Contrary to popular belief, branding plays just as important role in B2B marketing as it does in the B2C space, yet data from the 2022 CMO Survey found that B2B brands in the UK invest just 7% of revenues into marketing, while this figure was around 10% for consumer brands. Approached correctly, branding can be a powerful tool in B2B marketing, not only helping…