Small Business Matters | A Blog for UK Small Businesses

Finger on the [Business] Pulse

The 2009 Business Pulse research launched at this year’s Small Business Week (19 – 23 October) has uncovered some interesting statistics and trends from Small Business Britain.

One point that stood out to us was that 48% of small business owners said that advice is essential to advancing their business. The fact that many small business owners are calling out for access to better advice and resources is something that we have blogged about previously and that we feel very strongly about. Initiatives like Small Business Week are a good chance to shout about these issues, and to make sure that small businesses are getting the support they need.

The small business owners surveyed were also largely optimistic about the future. 62% said that they expected to see a significant growth in profit within the next 18 months, primarily through increased marketing spend and investment in technology. Interestingly, it was the businesses who want to be at the forefront of technology who were also the ones who said that they have been least impacted by the recession and were most optimistic about the upturn.

Small Business Advice Week: Intuit talks tips!

As part of Intuit’s sponsorship of Small Business Advice Week, our managing director Pernille Bruun-Jensen, took to the airwaves to discuss the current environment for UK small business owners and offers some top tips on how to succeed.

She chatted with more than fifteen stations around the UK, sharing insights that every small business can use to be more successful.

Couldn’t get to the radio in time? Click on the podcast below to hear Pernille’s interview with London’s Colourful Radio (DAB Digital Radio).

In the segment, Pernille offers these tips:

1. Know where your money is going: Small business owners need to be aware of how much they are spending and for what, along with tracking VAT and making accurate returns. It is important to keep on top of bookkeeping right from the start otherwise there is a risk of forgetting crucial costs or, even worse, failing to invoice a customer.

2. Build and manage relationships to get the best terms: Relationships with banks, suppliers and customers should be checked regularly to be fully aware of all payment dates and their terms. Investigate if there is anything that could be modified to help maintain a healthy cash flow, such as moving key dates and adjusting payment terms.

3. Be sure to get paid: Ensuring customers pay on time or asking them to do it sooner, can improve everyday cash flow as can asking for extended credit terms with suppliers.

4. Forecast cash flow: Cash flow forecasting also helps to plan borrowing, with many banks requiring forecasts before considering a loan.

To see more tips on Cash Flow, Credit Management, Business Strategy, Human Resources and case studies for helping your business succeed, please have a look at our guide.

Tune in for small business top tips and to win QuickBooks SimpleStart!

As we mentioned last week, tomorrow morning Pernille Bruun-Jensen, Managing Director Global Small Business at Intuit UK, will be featured on local radio stations across the UK providing top tips to small business owners on how they can succeed in the current climate.

For more information on when and where you can tune in, please see below:

• Dream 100 FM, Essex (at 09:35am)
• Radio Verulam, St Albans (at 09:45am)
• 91.8 Hayes FM, Ealing, Hounslow (at 09:55am)
• Sunrise Radio National, UK (at 10:15am)
• Sunrise Radio, Greater London (at 10:15am)
• Kismat Radio 1035, Greater London (at 10:15am)
• Easy Radio, London (at 10:15am)
• Phoenix Radio Leeds, West Yorkshire (at 10:25am)
• Durham FM, Durham (at 10:35am)
• Alpha 103.2, Darlington (at 10:35am)
• Minster Northallerton FM, Northallerton (at 10:35am)
• 107 The Bee, Blackburn, Hyndburn & The Ribble Valley (at 10:45am)
• Q102.9FM/Q97.2FM/Q101.2FM, Londonderry (at 11:05am)
• Six FM, Ulster (at 11:05am)
• Seven 107 FM, Ulster (at 11:05am)
• Five FM, Northern Ireland (at 11:05am)
• Westside 89.6 FM, London (at 11:15am)
• Play Radio, Southampton and Winchester (at 11:25am)
• Colourful Radio, UK (at 11:25am)

There will also be competitions to win free copies of QuickBooks SimpleStart (RRP £89.95) on the following stations, so listen out for your chance to win.

• Heart 96.3, Bristol Bristol & Bath
• 96.4 The Eagle, Guildford, Surrey
• 96.4 FM The Wave, Swansea
• Premier Christian Radio, Greater London
• Swansea Sound, Swansea
• KCFM 99.8, Hull and East Yorkshire
• Waves Radio, Peterhead
• Midwest Radio (Ivel and Vale) Somerset, Wltshire and Dorset
• Radio Maldwyn Magic 756, Mid-Wales

Small Business Advice Week 2009

Next week (7-13th September) is Small Business Advice Week 2009, which aims to provide vital information to businesses at a time when they need it most. As companies look to ride out the recession and move forward, business help, advice and support will be a crucial instrument necessary to enable companies to grow.

Throughout the week, a panel of experts will be covering a broad range of issues relevant to UK businesses in the current climate. Some of these include: business banking, IT infrastructure and software, recruitment and training.

We know that in the current downturn, many small business owners are calling out for access to better advice and resources to help them survive and grow. In fact, in our recent customer survey only 23% of respondents felt it had been easy to access external help and advice.

Pernille Bruun-Jensen, Managing Director Global Small Business at Intuit UK (and Small Business Matters blogger) will be featured on several regional radio stations providing top tips to small business owners on how they can succeed in the current climate. There will also be competitions to win free copies of QuickBooks SimpleStart (RRP £89.95).

For more information, take a look at the Small Business Advice Week website or check back here for more updates on when to listen out for Pernille!