In the ever-competitive world of hospitality, managing costs effectively can mean the difference between thriving and merely surviving. Café owners are feeling the pressure of rising costs across the board – from ingredients and energy bills to staff wages. There are a number of practical and actionable ways to cut down on expenses without sacrificing quality or customer experience. Audit and Analyse Your Current Costs Before you can cut costs, you need to understand where your money is going. Regularly reviewing your profit & loss (P&L) statements helps highlight areas where expenses may be unnecessarily high. Look closely at labour…
Author: sme-admin
Small and medium-sized enterprises in the UK are being given a unique opportunity to give back on a global scale by joining an exclusive club launched by SOS Children’s Villages, the world’s largest charity focused on supporting children and young people who don’t have, or are at risk of losing, parental care. Research shows that more than half (54%) of employees said that working for an employer who supports charities increases their sense of pride in working there. The SOS Children’s Villages SME Club has been created to support businesses looking to make a genuine social impact, offering them the chance to connect…
A quiet revolution is taking place across the accounting profession: record numbers of qualified technical accountants are rejecting traditional employment in favour of establishing their own practices. AAT’s (The Association of Accounting Technicians) licensed accountant population – members qualified to run their own accounting businesses – has grown by 59% over the past seven years*. This includes a remarkable 755% increase in licensed members under 34 years old since 2018, growing from just 119 to 1,018*. Based on current growth trends, AAT projects its licensed accountant membership to exceed 8,000 by 2030. Accounting technicians fulfil vital roles in chartered accountancy…
Targeted development is essential to encourage AI uptake from non-technical employees, says M-Files Despite billions invested in AI solutions worldwide, a major roadblock remains: employees don’t understand how to use these tools effectively. Without proper guidance, businesses risk stalled adoption, wasted investment, and an inability to realise AI’s full potential. This hesitation is hindering AI adoption and limiting its benefits within organisations. Recent research indicates that only 6% of workers feel very comfortable utilising AI in their roles. This stark statistic highlights a significant skills gap that businesses must address. A McKinsey Global Survey found that while 85% of businesses have AI initiatives…
Andrew King is the founder of SGT, a Buckinghamshire-based firm helping businesses across the UK find commercial energy tariffs that meet their needs while keeping costs low. In this article Andrew explores how businesses can cut energy costs while also cutting down their carbon emissions. Let me tell you a story about John, the owner of a mid-sized company, it might save you a load of money, it might not. He felt like he was stuck in a race he never signed up for. On one side, rising energy bills were eating into his profits. On the other, his company’s…
Sarah Carter, Head of Account Management at Onebright shares why effective mental health training is no longer a nice-to-have—but a vital part of any business strategy to foster happier, healthier, and more productive teams. Most businesses now provide some form of mental health training for employees. But do you know what should be included in this training to ensure it is effective and impactful? With an estimated £42 – £45 billion being lost each year due to presenteeism, sickness absence and staff turnover from poor mental health, mental health training can play a crucial role in the wider success, happiness and…
The voluntary period for identity verification (IDV) is open for business. More than 6 million individuals will need to comply in the 12 months after IDV becomes a legal requirement later this year. This phased approach reduces the burden on companies. Last week, (8 April 2025) saw the launch of a new service that allows individuals to verify their identity directly with Companies House through GOV.UK One Login. People can also verify their identity through an Authorised Corporate Service Provider (ACSP). The introduction of identity verification is one of the key changes to UK company law under the Economic Crime…
Olivia Benson of Pure IT Refurbished looks at how smart investments in refurbished technology can empower growing businesses with reliable, cost-effective, and sustainable IT solutions. Businesses that are focused on growth and plan to enhance their productivity have to make smart choices in terms of investing in the right technologies. Although brand-new devices might appear as the best option, their higher prices pose a huge strain on the budget, mainly for small enterprises as well as startups. Refurbished IT devices like laptops and desktops are the most logical alternatives that deliver outstanding performance without putting financial strain. These devices undergo…
Time and attendance solutions provider Clocking Systems Ltd. has revealed new research, showcasing things that rank as the top annoyances of those in management or leadership positions. After collecting and collating relevant data, Clocking Systems found the following to be bosses’ top frustrations and annoyances about their employees in the workplace. Lack of Communication One of the real bug bears across all managers was a lack of communication from staff, whether it was not replying to e-mails, running late and not letting them know, or not communicating when something isn’t going well. It’s been cited that this is one of the…
Small and medium sized enterprises (SMEs) throughout the United Kingdom are incurring annual losses amounting to £3.4billion due to inadequate cybersecurity measures., according to a new report from Vodafone Business. The report Securing Success: The Role of Cybersecurity in SME Growth, also found that the average cost of a cyber-attack for a small business is £3,398 with the figure rising to £5,001 for those with 50 or more employees. Download the full report here: www.vodafone.co.uk/newscentre/press-release/cyberhackers-costing-uk-smes-3billion-per-year The findings highlight the necessity for businesses to safeguard against rising cyber threats, which result in financial losses each year due to data breaches, system downtime, and…