The size, shape and scale of businesses operating in the SME sector is often characterized by the supplier, and the customer, having an interpersonal relationship rather than a transactional relationship that can be common in larger entities.
Good managers understand and emphasise the value of their people, recognising them as the cornerstone of success in their business yet often the time spent recruiting and developing their people lacks the appropriate level of attention.
Hugh Griffiths, Board Advisor with us at elephants child, is a former military aviator, turned entrepreneur. He founded Inzpire Ltd, one of UK’s fastest growing defence companies, which he led as CEO for many years. He shares his tips for SME leaders to help them survive and thrive beyond the start up phase.
Happy New Year to you all! Wishing you the very best for 2025. Our CEO, Martin Brown shares his reflections on 2024 and looks ahead to how SMEs can achieve success in 2025
Many business owners are already grappling with the recent budget changes, including increases in minimum wage levels, National Insurance (NI) contributions, and Capital Gains Tax (CGT) on business sales. However, for those considering selling their business soon—or even those currently in the process—there’s a further consequence to consider. It hasn’t made as many headlines but: the value of your business may have just taken a significant hit.
The much-anticipated Budget landed, and with it, a series of changes that have business owners assessing their next move. Minimum wage rises, National Insurance contribution changes, and shifts in Capital Gains Tax all add up to a worrying time for business owners. If you’re an SME owner, you may find yourself mulling over The Clash’s eternal question: Should I stay, or should I go now?
Tell-tale signs of a weak or untrusted management team are when you get embroiled in the day-to-day operational minutia, where everyone looks at you to solve problems and your role is mainly answering queries and fixing the mistakes made by others.
Artificial Intelligence (AI) is no longer just a futuristic concept confined to science fiction. In recent years, it has emerged as a transformative force across industries worldwide. For small and medium-sized enterprises in the UK, AI represents both a challenge and an opportunity - a powerful tool that can drive efficiency, innovation, and growth.
