Business Resource Centre

Why business owners over 55 will never stop working!

Almost four in five small businesses have moved activities online to stay operational since the pandemic struck.

One in seven small business owners (14%) say they are transitioning towards becoming fully or mainly online enterprises since the outbreak of the Covid-19 pandemic in the UK, according to new research from Hitachi Capital Business Finance.

New research from Hitachi Capital Business Finance has found that single parent business owners work some of the longest hours in the country and are 20% more likely to be working this bank holiday than the average small business owner.

In the short period of time since our last survey at the start of 2020 the latest findings from our quarterly tracking study of small businesses has reported UK small businesses “predicting growth” plummeting from 39% to just 14% in the last three months.

New research from our Business Barometer survey reveals that two in five small business owners (39%) predict growth in the first few months of 2020 across all but two industry sectors. This follows a recent drop in small business confidence and suggests an upturn in expectations for the first time in 18 months.

In this case study series, we’ll be shining a spotlight on some amazing UK businesses that have funded their ambition with asset finance from Hitachi Capital Business Finance. From manufacturing and construction to craft brewing and retail, we’ve helped thousands of businesses take the next step.

In this 'Owner Insights' series we will be taking a look at SMEs around the UK from different industries that all have one thing in common - seasonality in their businesses. Eaten Alive produces some of the finest fermented foods that are both vegan-friendly and good for the body. Founded by two chefs with a passion for fermentation, they've created their own line of kimchi, sauerkraut and hot sauce. Their recipes focus on putting great produce and flavour first. Learn more about Eaten Alive.

In this 'Owner Insights' series we will be taking a look at SMEs around the UK from different industries that all have one thing in common - seasonality in their businesses. Complete Digital is a London-based digital marketing agency which specialises in data-led digital strategies that generates leads, sales and growth for their clients. Learn more about Complete Digital here.

In this 'Owner Insights' series, we will be taking a look at SMEs around the UK from different industries that all have one thing in common - seasonality in their businesses. Sensation Band Entertainment Agency provides a range of world-class music services for private ceremonies and events. Combining some of the UK’s top musical talent with cutting edge technology and sound equipment, Sensation Band offers a unique and unforgettable experience. Learn more about Sensation Band here.

As a small business owner, improving your supply chain may involve something as simple as reviewing where and how you store your inventory, or it could mean a much bigger exercise, involving ongoing reviews of production logistics. Anything you can do to improve a supply chain should help to minimise your costs and, hopefully, increase your profit margins and financial position too.

A late payment crisis is hitting the small business community. Two thirds of small businesses say they have been affected by their customers failing to pay them on time – a particular issue for larger small businesses that employ between 10-49 people and those that have been trading for 35 years or more. These findings come at a time when an estimated 50,000 businesses collapse due to late payment issues.

As the UK approaches the Brexit deadline, we asked small business leaders across the UK what they were doing over the summer to secure growth during a period of economic uncertainty. Almost two thirds of respondents told us they were maintaining a positive outlook and were working on summer initiatives to nurture growth. In additional one in five business owners said they were starting to look overseas so they could expand into new markets.

How do you handle customer complaints? How can you stop complaints from ruining your reputation? Life isn’t perfect and most small businesses can have a temporary or minor setback from time to time. It may be product defects, slow post, poor service, or even a misunderstanding that makes the phone ring. What is important, though, is having a plan to handle customer complaints in advance, when dealing with issues around product defects, service or delivery.