Monday, 20 October 2014

New research uncovers biggest challenges facing UK SMEs

Funding, recruitment and increasing costs are seen as some of the biggest challenges in 2014.

Bank lending, the trials and tribulations surrounding the introduction of auto enrolment and managing cash flow are some of the much-covered challenges facing small and medium-sized enterprises (SMEs) in the UK. However, new research has revealed that recruiting a talented work force, funding and increasing costs are some of the biggest issues SMEs are currently struggling with.

The survey of 500 UK SMEs explores the numerous challenges that many start-ups have faced since the market crash of 2008, and looks at the conflicting factors affecting specific industries and how thriving SMEs are overcoming such issues. For start-ups the biggest challenge remains access to funding. And increasing costs, such as energy and travel, were highlighted by 21 per cent as the biggest challenge for small businesses throughout 2014.

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Thursday, 9 October 2014

Can social media platforms replace a business website?

With more people than ever using their mobile phones to access the web, are Facebook and Twitter more important to businesses than websites?

Recruitment advertising agency andSoMe relies on Facebook and Twitter for its online presence after replacing its website with a holding image two and a half years ago. Co-founder Mark Rice says the move made a statement about the company, reflecting its shift from print to digital advertising and eventually social media: “If we are going to sell our expertise in social media to our clients, where better to do that than [on] the platforms that we’re selling to them?”

The decision also made financial sense. Bespoke websites can cost thousands of pounds, so should small businesses abandon them to save time and money? Or does this strategy only work for certain niche industries?

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