It is no secret that last year has tried and proven the resistance of SMEs. From the increase in costs to Financing challengesThe landscape has changed, and continues to change, at a pace of an intern.
In Vistage, a CEO tutoring program, our latest results of the trusted index indicate that 53% of leaders inform a decrease in general economic conditions. But not everything is pessimism.
In fact, many SME leaders with whom I speak are this moment to adapt their processes, instead of retiring. By doubling their priorities and investing in smarter forms of work, they are finding effective solutions to maintain solid foundations in the United Kingdom.
Scale
We have seen a remarkable fall in start financing and less direct support for SMEs in recent Spring statement. It is easy to feel discouraged. But what highlights me is how many business owners refuse to wait for the conditions to improve.
SMEs are looking for AI to help optimize their operations and improve efficiency. Based on our trusted index, 70% of CEOs and 65% or leaders are already using AI in some way, whether a automatic routine administrator, automatic routine administrator, Improve customer interactionsor improve production lines.
If we see that emerging technologies implemented are effective, the agency’s burden in SMEs could be a significant LED and help companies manage Growing salary costs (A growing concern as inflation continues to affect operating expenses).
I encourage SME leaders to focus on one process at the same time to help optimize operations every quarter and start exploring generative to help with the daily administrator.
By breaking the introduction of AI in management management phases, SMEs can ensure that each process is properly tested, positively adopted by employees and refined as necessary. This reduces the risk that Womhelming the organization and increases the hood of the probability of long -term efficiency gains.
Invest in your people (intelligently)
Even when some companies are reducing budgets, others continue recruit. According to our index, around 31% plans to hire employees in 2025; A clear investment signal in your future.
However, with the shortage of skills it remains a great challenge in technology, manufacturing and logistics, it is not just about Hiring right. It’s about making sure your current team is committed to the company. Internal training, tutoring and even peer support networks such as Fishing Make a big difference.
The conversation that never ages is whether we should work from the office five days a week. Interestingly, 34% or leaders are also encouraging a complete Return to the office. Many see this as a way of strengthening Company cultureImprove collaboration and increase productivity; Crucial approach areas for companies in different stages of growth.
It is also important to keep in mind that only one in O gene z uses to work full time in the office, In accordance with the times. Hybrid work remains a large raffle card for young generations and families by choosing a workplace to which they feel safe to commit.
It is important to listen to its employees, since it depends on the culture and industry of the company. I suggest trying to open the dialogue and encourage comments on all teams. This could be through anonymous surveys, asking employees for their preference when it comes to New trend or hybrid workand find a solution that addresses the thoughts of the majority.
Stay focused
In terms of global activity, we are seeing international markets taking advantage of the fall of the United Kingdom in economic confidence, by becoming more attractive to the United Kingdom companies.
From the favorable tax regime of Ireland to the incentives for the United Kingdom companies in the EAU and Singapore, the global competition for the United Kingdom companies intensifies. It will be a surprise if we see that the United Kingdom companies consider alternative options.
The construction of relations with international partners is never a bad idea, but the preparation of existing companies based in the United Kingdom is something completely different, and a massive adjustment that requires a several -year strategy.
Make and bring to you with you
Even with the increase in costs and attractive international opportunities, a solid percentage (56%) or SMEs feel positive, and CEO believe that their income will grow in the next 12 months.
When it comes to looking at the next few years, I suggest focusing on understanding what your company needs to prosper. What works for some may not work for ethers.
It is important to keep in mind, to think that implementing new processes and strategies of change is always easier when employees feel that it is believed that their opinion is valued.
It is clear that the SMEs of the United Kingdom do not remain still. They are active positioning not only to resist future challenges, but to lead the next wave of business growth.
To obtain more tips on how to strengthen your business for next year, see the Startup workforce report.
With experience in the business scale and improve the effectiveness of sales, Rebecca has delivered shocking results in renowned organizations such as Chief and LinkedIn. Now in Vistage, Rebecca supports CEOs and executives to make better decisions that impact their business, teams and communities.
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