Welcome to another week of insightful small business news and headlines that have caught the eye of SME owners all over the UK. In top position, recent media attention on drones has some people questioning their potential uses for saving SMEs money – plus, some very good news for any small businesses based in London. Read on for the weekly update.
Feature of the Week
Drones have negatively hit the headlines this week due to safety concerns and legislation – but despite these concerns, could drones have the potential to replace your postman? Drones may be able to offer quicker and more efficient services such as ‘same day delivery’, which solve issues for impatient customers.
Small businesses could also benefit from this innovative method of delivery, with the main advantage being minimising petrol costs. Read about their limitations and more on the link above.
The small business network, Enterprise Nation, has extended its reach with a new growth hub located in Barnsley. The company have also collaborated with business insurance provider Simply Business to offer support to pop-up businesses on local high streets.
London businesses look to lucrative future |SmallBusiness.co.uk
The future is looking bright for small businesses based in London, as revenues are expected to increase by an average of 44% in the next ten years! Businesses in the capital have an average turnover already more than 80% higher than other regions, and it’s set to increase even further.
The digital economy may have a part to play in these estimations, as small businesses selling products online make an average of £810,000 a year; also reducing time on everyday tasks and broadening a customer base. However, it is apparent that an increased number of businesses in the North plan to either reduce or keep their online expenditure flat. Read more these estimations across regions in the piece above.
Sink or swim: why some startups succeed and others don’t | The Guardian
A survey by RSA has found that 50% of start-ups don’t survive past the five year mark. Experts have revealed that the reasons behind this figure, other than the lack of cash available to the business, include the idea itself, the entrepreneur and managing team and timing. Click above to get the full analysis.
Finding the right talent is number one issue for business leaders | SmallBusiness.co.uk
A shortage in talent and skills is the top concern for businesses, according to a survey by Clarus Consulting. Other aspects that will affect businesses, such as the increasing use of digital channels or the threat of the UK leaving Europe, doesn’t overly concern business leaders in comparison to this. The other ‘traditional’ challenges that business leaders encounter are increasing turnover, improving skills and increasing profitability.