The New Year should help to provide small firms with new opportunities, the chance to develop new ideas and look at ways in which they can improve their operations on a day-to-day basis. A lot is expected to happen in 2013 in the business world, but what do smaller firms have planned for the next 12 months?
There are three key areas which small firms are likely to focus on – technology, staffing and money. All three can help to make or break a business, whether it’s hiring the right staff, having the latest technology in hand or trying to get value for money on every single purchase made, no matter how big or small.
Staffing is something small businesses will look at closely in 2013. How they will do it is look at whether it’s worthwhile recruiting any new staff. Many firms believe that finding employees with the relevant skills is a challenge despite the clamour for new jobs growing as unemployment remains high in many countries including the UK.
Access to the best possible talent is something many small firms want, but this depends on whether or not there are the right people in their locality who have what they need.
Technology is perhaps even more important that staffing. This year, hiring the right personnel to oversee the IT side of business will be a priority for some smaller companies. However, some are turning to freelance workers to help out. Meanwhile, investment in new technology is likely to grow in 2013.
Probably the most important thing of all for business is money. Like the past few years, it has been imperative for many small firms to make savings. Energy costs are likely to climb even higher, something which could be resolved by deciding to compare business gas & electricity with Make It Cheaper.
As well as other issues such as finding the right level of capital to invest in expansion or to set aside in case of an emergency situation, saving money on energy costs is something all businesses will surely want to do.
Smaller firms in particular may be affected by a large price rise, but switching to a cheaper supplier may be an option they choose to explore. They may also find access to capital from banks will remain restricted, despite intervention from government.
However, confidence among firms for their prospects in 2013 is on the rise, which suggests that profitability and sales could move up after a turbulent period.
This guest post was made possible by Make It Cheaper.