Features

After a difficult year, there is no surprise that most people are looking for ways to save some money and scrape those pennies together. No matter which part of your life you are looking to tighten the belt in, it can often be difficult to know where to start; particularly if you are a business owner, who has felt the brunt of this year. We don’t blame you; we have all been there! Try not to stress, however, for we have a helpful and effective list detailed here, of ways you can cut costs to your business, without causing any damage to profits.

How could we have prepared for 2020? It was the question on the minds of many throughout the early months of the pandemic that affected every aspect of daily life. But now, we know the answer: preparation was impossible. However, our collective experiences in this most challenging year have taught us some valuable lessons. Among the most important is that they way individuals, leaders, and companies respond to new and unexpected situations is the true indication of success.

Sometimes even after long pep talks and different ways to motivate your employees, you are not able to create high employee engagement. Despite consistent efforts, you are sometimes not able to attract the best productivity in your workers. In such a scenario, do you ever question your understanding of employee engagement?

Without beating about the hypothetical bush, the future of the labour market in the UK is looking rather bleak. Reports suggest that we are on course for the worst recession in more than 300 years. The Institute for Policy Research meanwhile has warned that more than one million young people could be unemployed by 2021.

Gone are the days where profit reigned supreme in a business’ strategy. Now, investors, customers and talented employees are all looking for businesses with a purpose they can buy into.

Startups are all about growth and achieving their potential almost from day one. For any business to succeed, though, it needs to have dedicated employees who put the time and effort into making things happen. Of course, you can’t expect to have that if you don’t do everything you can to make your workers feel valued.

Inevitably, the world will change once we have emerged from lockdown. With a heightened sense of hygiene and further concerns about workplace safety, employers will need to look closely at ways to reduce contact and move towards what is being touted as the Low Touch Economy. But how can this happen with as little disruption to business as possible?

As we continue to work towards the government’s net zero emissions by 2050 commitment, businesses are naturally becoming increasingly aware of the need to be more eco-friendly. Other strategies, such as the Clean Growth Strategy, which aims to promote economic growth at the same time as decreasing emissions, mean that the focus on having a positive effect on the environment is now higher than ever.

Relationship marketing is significant for all businesses. It is the customers who keep your business running. SEO for big brands can get them the necessary clients. But that is one aspect and keeping them is quite another story. Customer loyalty for your business can go a long way in maintaining a strong relationship with the customers.

When starting a business, the implementation of a Customer Relationship Management or ‘CRM’ system may seem like an unnecessary task but committing to it from the outset will save time, cost and resources when compared to installation at a later date.

Businesses, and indeed stock markets, hate uncertainty.  Sadly, there is no doubt that 2020 has been full of uncertainty at every stage.  And whilst the main focus, for very obvious reasons, has been on Covid-19 and all the trading and other ramifications that that has brought with it, it has not been the only source of major disruption this year.

In the space of just two months, the UK’s data watchdog, the ICO has dished out nearly £40m in personal data breach fines to some of the country’s best-known companies – British Airways, Marriott International and Ticketmaster. Whisper it quietly but the ICO’s burst of penalty decisions, coming after significant delays, goes some way to countering mutterings that the regulator lacked the will to take on large and well-resourced opponents.

In 2019, Elon Musk made headlines by touting AI as a “fundamental risk to the existence of civilisation”. Ironically – for a man in his line of work – Mark Zuckerburg countered this argument, describing the warnings as ‘pretty irresponsible’.

Ask yourself, what would your 2020 have looked like without Zoom, Slack and Google Drive? If anything has stepped up and carried the load of remote working this year, it’s these tools.

It should come as no surprise that a strong environmental ethos within an organisation is a driving factor for many jobseekers when choosing where to apply for work. However, a recent report has detailed just how important sustainability aligned with social responsibility really is in terms of recruitment.

If you have just started a business, you would probably want to know how to get more customers from the get-go. It can be from knowing the way to success or even just having the welcoming body language that can either make or break a deal. You need to be careful as a salesperson – being nervous is easily visible.

The fourth in our six part series of articles harnesses our Associate and Partner network and focusses on Founders and the complexities of relationship between Founders and Co-Founders – for better or for worse. “It’s not you, it’s me,” how do you stop things going pear shaped at the top and what do you do if it does?