Business

What is Price Elasticity of Demand?

Before you price your product it’s important to understand how sensitive your customers will be to price changes. This means getting an understanding of your market, your competitors and how price elastic it is. #smallbusiness Price elasticity is an economic concept that you should get to know. It is instrumental in understanding demand for your product and the...

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Is your 2023 planning leading you down the right path?

Is your 2023 business plan getting the job done? We’ve highlighted 5 important elements that your 2023 strategy needs to focus on #SmallBusiness #planning #2023 As a business owner, CEO or managing director, it’s important to look forwards. Your job is to guide the course of the company and to provide the roadmap for a successful year. But...

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Business costs and the increase to the minimum wage

Have you factored in the rise in the National Living Wage from April 2023? Talk to us about managing your business costs and remaining profitable. #costs #minimumwage #costs #minimumwage #businesstips Rising business costs are still a worry in 2023. Supply chain costs are high, energy prices are still expensive and labour costs are on the rise. These increasing...

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Build long-term customer relationships: improve your financial stability

Happy customers spend more and tell more people about your business. We’ve explained how great customer relationships make your business more financially stable. #businessadvice #SmallBusiness We know that building long-term relationships with your customers makes good sense for your customer experience. But good relationships are also a key factor in making your business more financially stable and improving...

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How to stay competitive in your industry

Staying competitive puts your business ahead of the pack. We’ve shared some top advice on how to remain competitive and maintain your leading edge over the competition. #businessadvice #competitive #marketleading It’s difficult to make your business stand out from the crowd, especially in the 21st century digital environment where businesses large and small are competing for the same...

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Happy New Year

Thank you for your business in 2022.  We wish you a Happy and Prosperous New Year - we hope it brings you health, wealth, and happiness. For business owners, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. These could be lofty...

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Protecting business relationships in a time of crisis

Strong relationships with clients, customers, suppliers and staff are a key part of business success. But in a crisis, it’s easy to focus on your own issues and neglect those important connections. Here’s how to stay connected during difficult times – because you won’t get through without strong business relationships and ongoing support.  Communication and contact  Transparency goes...

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The business impact of the Autumn Statement

The Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement on 17 November 2022. The £30bn cost of his predecessor's catastrophic ‘mini budget’ hung heavily over this financial statement. Mr Hunt’s job was to reinstate confidence in the Government’s fiscal capabilities and to inject some optimism into the global perception of the UK economy. To do this,...

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