SMEToday talks to Vee Bharkhada, the inspiration and driving force behind Navigate Business Recovery
How and when did you start in this line of work?
Actually, I fell into it accidently. I had moved from Leicester to London and was looking for a training contract in a solicitors office which was taking too long to arrange. I was registered with Brook Street the recruitment company in those days and they said that this temporary contract had come up with a firm which specialised in insolvency work for nine months covering for someone who was going on Maternity leave and I was so desperate to start working and to earn some money so that I could move it from my parents’ house that I decided to take the job whilst also continuing the search of the legal training contract.
I am a great believer in serendipity. This is where I met my now husband, Frank. It was my first day at work and I was looking for the office address having attended a short interview a few days before at 5pm in the middle of February and it was dark and it was arranged by Brook Street anyway ……..Frank helped to point me in the right direction and here we are after 37 years still together. He is my rock and support in everything I do and continues to this day to point me in the right direction!
If you had to sum up your business in five words, what would you say?
Helping all director sleep better and hope and reassurance for directors
How long have you been in this business or industry?
Almost 36 years
What products and services does your business offer?
What do you like most about business?
Helping directors of companies and sole traders to find peace of mind and achieving successful outcomes. I love what I do.
What do you think is the significant challenge facing small businesses today?
High interest rates, increasing costs overall in everything from utilities to cost of living, competition, Brexit, our politics is a mess and so this affects all business owners.
How do you measure success?
I am healthy and have an amazing husband and kids. They are my biggest wealth.
In what ways did the pandemic change you and your leadership style?
In all honesty my business model did not change much. We were mostly working from home and so although we made some minor changes, we kind of continued as we were. We did get rid of our London and Amersham offices to save £4500 per month in rent and I built an outbuilding in my back garden where the staff come in once a week or a fortnight to save documents and print stuff …. though we are gearing towards being a paperless office and so most of our work is conducted on the cloud.
I definitely became more resilient. My mum passed away 25th March two days after the official lockdown not because of the pandemic but because she had a critical kidney infection. I realised how badly my dad was affected. I am not saying that it’s just my dad who suffered because my mum passed away but seeing him the way he was made me more resilient to be stronger, take care of my health and up my game in spending more me with family so that if I am healthy then I can do more for those around me.
It was the first time in my life that I had lost a family member and so it affected me quite badly and I did see a therapist for six weeks to deal with my anxiety. I just did not know who to turn to. My husband was my biggest support system. My children were also affected with mum passing away and so I had to be strong for them.
Upon reflection what decisions did you make in during the pandemic that you are pleased with and not so pleased with?
The best decision was to build an office in my back yard. It has saved me over £50,000 a year in rent and the staff are so happy with flexible working. It has saved the business travel costs; we are more productive as a team and there seems to be an increased level of trust and loyalty.
Is there anything that you would do differently?
Yes, and I guess a lot of business owners would say the same ……I wish that I had started my business 20 years ago and I should have built the office back in 2017 when I started NBR. It would have really helped with cashflow which was affected by the huge amount of rent I was paying. Hindsight is a wonderful thing!
Do you think that it is easier or harder to start a business post COVID?
There are pros and cons to be honest so:
Starting a business post-COVID-19 comes with its own set of challenges and opportunities. On the positive side, there has been a significant increase in people adapting to digital technology, with a massive shift towards online business models. Consumers are now more willing to engage in e-commerce and digital services, which lowers startup costs and allows businesses to attract a wider geographical clientele both offline and online. Remote work has become the norm, reducing the need for physical office spaces, and many landlords are struggling to find tenants for vacant offices. This shift has led to savings on overhead costs and opened access to a global talent pool. Additionally, many governments have introduced grants, loans, and support programmes to encourage entrepreneurship and economic recovery, making financial support and resources more accessible than ever. Consumer preferences have also evolved, creating new opportunities in emerging markets, particularly in health, wellness, and home entertainment products. Businesses can easily tap into these markets with innovative products and services. Furthermore, businesses have been forced to diversify supply chains and source locally due to Brexit, which, despite initial challenges, has resulted in more robust and resilient operations that are less reliant on single suppliers.
The negatives
The global economy is still in flux, and it is unclear when any sense of certainty will return, but businesses cannot afford to halt operations due to instability—we must keep moving forward. While reduced consumer spending and fluctuating market conditions are potential challenges, perseverance remains key. One significant hurdle is the increased competition, as many people have turned to entrepreneurship following lockdown, taking advantage of the work-from-home model. This has led to crowded markets in numerous industries, making it essential for businesses to develop strong differentiation and unique value propositions to stand out. Despite adaptations, supply chains continue to face disruptions due to the lingering effects of the pandemic, requiring business owners to prepare for delays, increased costs, and the need for contingency planning—areas where many businesses struggle due to a lack of strategy or direction. Additionally, new health and safety regulations have introduced complexities, requiring compliance and additional costs for policies and operational adjustments. Starting a business post-COVID-19 is, therefore, a mixed bag. While the surge in digital adoption and flexible work models presents exciting opportunities, economic uncertainty and increased competition pose significant challenges. Ultimately, success will depend on the ability to leverage emerging trends, adapt swiftly, and manage risks effectively.
How is your business doing since COVID?
Other than looking for more staff or the right staff my business is doing well. With many directors and business owners who are struggling to manage their businesses and pay of the government Bounce Back and Coronavirus Business Interruption Loans who are either wanting to agree payment terms or close their companies.
We are helping these business owners with either restructuring their way out of the tricky situations they find themselves in or assisting with liquidations where necessary. Some business owners have injected a significant sum of their personal funds into the business or have significant outstanding debts in relation to Personal Guarantees they have signed, and, on those cases, we are providing advice around the pros and cons of bankruptcy and helping them to protect their assets in the process.
How do you think SMEs should best market themselves in 2025
It is so important to know your audience, your customers. Learn as much as you can about them. This will help you create products and messages that appeal to them.
Business owners are often afraid to use social media. Social media platforms are where we get most of our work. We have various professions industry experts who refer work to us and have done so for years BUT using social media gives us the opportunity to attract potential clients from all over the world. Platforms like Instagram, Facebook, and LinkedIn are great for reaching lots of people.
Post regularly and interact with your followers. Be personable.
A website is key depending on what your business model is. It makes your business look professional and is a place where people can learn more about your products or services and more importantly learn about you!
Offer promotional discounts, unique offers, and competitions which can attract new customers and keep existing ones coming back. We provide a free 1-hour business review through our website and post about this regularly on social media. We also state that if they refer friends or family who are in business then we will discount the fees.
Obtaining genuine reviews is challenging work but keep at it. The more you ask the more you will get. Make sure that you ask happy and satisfied customers to leave positive reviews online. Honest reviews can help convince others to buy from you. Also, if someone is not happy call them in and ask them why they are not happy, what can you do to make things better and turn this into a positive review.
I know so many business owners who do not like networking. Attending local events and joining business groups is a brilliant way to meet new people and talk about what you do and your business. You need to do this for yourself as it will definitely help to grow your business.
Finally dip into some email Marketing. Make sure that you are compliant in terms of your General Data Protection policy and then you can collect email addresses from customers and send them updates, exclusive offers, and news about your business.
These are some of the simplest things to do and cost effective to market your business and engage with your target audience.
What misconception do people outside of your industry hold about you?
There are quite a few but the top three are:
That liquidating a company or going into bankruptcy is showing the world that you have failed! It’s not! It’s a learning experience which provides a second chance!
These processes can be ways to restructure and make a fresh start. Liquidation can help pay off debts, allowing for a more organised wind-down or transition, and bankruptcy can offer protection and a plan to recover financially. It is more about finding a way to move forward than just closing for good.
Another misconception is that businesses go through liquidation or bankruptcy only because of poor management. While poor management can be a factor, there are many other reasons like market changes, economic downturns, or unexpected external events that can lead to financial difficulties.
Lastly, people often think that liquidation and bankruptcy destroy any chance of future success. However, many businesses and entrepreneurs come out of these processes stronger and more experienced, ready to build successful ventures in the future.
In your opinion what is the most important skill for business leaders to have?
Being empathetic must be the top skill and quality for business owners! Being able to understand and connect with your team, customers, and partners on a human level makes an enormous difference. When you genuinely care about people’s needs and perspectives, you can make better decisions, build stronger relationships, and create a positive work environment. Plus, it helps you navigate tough times with compassion and resilience. Treat people the way you want to be treated!
What five people would you like to meet (living or dead) and why?
- I am everything because of God and my faith in him. I have everything because of God.
- My Husband (I know I live him BUT honestly there is so much to learn from him) is my true inspiration! He has helped in my personal and business life to where I am now. As I said before, he is my rock and my support in everything I do.
- Me – My younger self. I would like to meet my younger self and give her all the wisdom I have today.
- Lord Alan Sugar- I have always had so much interest in him and the way he has grown his empire starting out in the rag trade. I would learn so much from him. He is a shrewd business owner and doesn’t take failure lightly!
- Russell Crow – my all-time hero. His acting in Gladiator made me fall in love with him.
What habits helped make you successful?
- Pray – as much as I can during the day. I don’t sit down and pray or have a special place I go to in the house or office. I have a couple or three mantras which I repeat in my head time and time again in the day.
- Fitness goals –My goals have been to walk 20000 steps a day. Always aim high!
- Family time is key- I try and talk to my kids twice a week without fail. They know that and they love having a quick catch up with me. It’s just a quick call. We call it checking in. It increases the dopamine levels.
- Reading books – I love reading. My love for books stems from my husband. I delve myself into my books and learn and be grateful for the life God has given to me.
- Writing my journal – I started writing every morning a couple of years ago, I call it my magic with God. I write in there every day all the things for which I am grateful.
- Finally – speak less and listen more.
What mindsets helped make you succeed?
- Someone is always worse off than you so be grateful for what you have. Do not compare people’s castles to your home.
- Life has its trials and turbulence. Stay positive. Every cloud always has a silver lining.
- Learning new things is so important. Do not be afraid to learn difficult things. Give everything a go. Keep growing and glowing.
- Being persistence is important. Do not give up just because it went wrong, or it did not work out the way you wanted it to. Keep trying. Always keep trying. Turn your defeat into a victory.
- Be responsible for your own actions. Blaming others can become a toxic characteristic. Think before you blame.
- Finally, my favourite – be grateful. Be thankful that God has given you another day on this beautiful planet we call the world.
Web: www.navigatebr.com