Local Business Week ​10th – 16th of May

As local businesses are the backbone of the UK economy, Local Business Week was set up to celebrate and advise local enterprises to maximise their potential.

 

6 Reasons to Shop Local

 

1. The local economy: Local business is the backbone of the UK economy, and shopping locally can hugely boost your community. Research shows that just £10 spent with a local independent shop means £50 back into the local economy.

2. Create local jobs: With an increase of demand, there always becomes an increase in supply, and with an increase in supply comes an increase in  suppliers. Buying local can boost the job market in your area by producing a need for more workers.

3. The environment: Even though next-day delivery makes online shopping desirable, the cost of that delivery on the environment last long past the next-day. Between the packaging, the fuel to transport the goods, and the damaging habits of online retailers, buying local is clearly the far more environmentally friendly option.

4. Encouraging entrepreneurs: By shopping local, not only are you boosting the community’s economy, you’re also supporting entrepreneurs from the local area and helping their business to grow.

5. Help to create the identity: The businesses in the local high street can shape the identity of an area, attracting tourists and visitors. By supporting local businesses, you can be a part of nurturing the vibrant and exciting identity of your community.

6. Local business for local charities: Many local businesses support local charities that are particularly relevant to the area, meaning that by shopping locally, there’s a good chance that you’re increasing charitable donations.

Supporting communities by encouraging local business – Read more about this fabulous Campaign here – Local Business Week

 


Rethinking Profitability – How SME’s can rebuild after Covid-19

As we emerge out of what is hopefully the last lockdown, employers have important decisions to make on how to reopen the workplace safely.  For many companies, rebuilding means trying to return to pre-COVID levels of business and traditional ways of working.

With many businesses continuing to focus on reducing overheads with a view to returning to normal, pre-COVID-19 levels of profitability in the near future, businesses who champion a strong company culture and invest in their talent will reap the benefits as the post-pandemic recovery continues.

Championing a strong and responsible company culture is no longer a box-ticking exercise – it’s a fundamental part of business growth.

One of the ways SMEs can achieve this is by looking at performance and employee data. Analysing the detail behind the data will often highlight areas where behaviour is impacting costs.

However, that traditional view of improving your financial strength may not be possible at the moment, or it may take too long. To thrive after the pandemic, businesses may need to completely rethink their route back to profitability.

For example, when we look at overheads, all too often some of these are simply viewed as the cost of doing business, with many leaders not realising the positive impact that people management can have on optimising costs and improving profit margins.

Rethinking profitability: How SMEs can rebuild after COVID-19 (globalbankingandfinance.com)

Our HR Consultant Dee Newton, loves working with SME’s to create and build positive cultures; including analytics, continuous improvement and people management strategies.