Five Useful Things Small Businesses Can Take Away From this Month

Posted on 23rd March 2016 in The Forecast

Written by Amy Harris

When you are busy running a business it’s hard to come up for air and take a good look around. But the more you are aware of trends, news and opportunities, the better informed you are to make decisions that will make your business grow. To help you out, here are the top five things SMEs should be aware of this month. - 4minute read

1. It’s all about Australia

Nearly a quarter of small UK suppliers trading overseas say Australia provides the biggest opportunity for export sales growth. In the previous year, only 5% of SMEs would have said the same.

2. Great Britain is now high-growth Britain

The UK’s SME community is in rude health. Figures from the Enterprise Research Centre show that the number of high-growth SMEs has risen to just under 12,000. That’s the highest in a decade. Even better, a ‘striking number’ of those firms are outside London.

3. Network with people, not profiles

There’s a big (and welcome) movement recently in business to remind people that networking isn’t just adding Linkedin contacts or Twitter followers, but meeting people in the real world. We would all sometimes rather head home after a busy day than network, but as Darren McConville says, nothing beats making a more human connection

4. No need to bank on the bank

There’s been much growth in the options available to SMEs for raising finance. Ben Lobel believes entrepreneurs no longer have to just look to their bank for help, which is often tough for new businesses, but can optimistically look to make the most of a thriving alternative funding market.

5. Leasing and asset finance just got a little easier

With access to finance for asset procurement still a huge problem for many SMEs, The British Business Bank has provided a £51 million facility to help boost the supply of leasing asset finance. Part of the ENABLE funding programme, the facility will further benefit SMEs and help them access additional finance solutions. This latest round of funding means the total finance available under the scheme is an impressive £150.

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