Small Businesses and #Brexit

What does Brexit mean for your business? For those just venturing out into the world of small businesses, trying to establish themselves in an ever-changing market, the uncertainty created by the Brexit vote may seem daunting. The good news is that a survey conducted by research firm BDRC Continental suggested that only thirteen percent of SMEs (small to medium sized companies) rated the current economic climate as a major barrier to business. Many SMEs are reporting “business as usual”, although there is some concern shown by larger companies.

The bad news is that when talking to small business owners directly, newspapers like The Guardian have found mixed opinions on the affects that Brexit is having and will have upon their companies. For example, the anonymous owner of a communications agency told The Guardian that “it’s devastating for us as a small business and I am not sure if we can survive it”, whilst others saw it as an opportunity to be exploited and a chance to expand their client base.

The Small Business Task Force

In the wake of the historic vote to leave the EU, a group of organisations came together to create the Small Business Task Force. This includes The Entrepreneurs Network, Enterprise Nation (whose founder Emma Jones leads it), ICAEW, IPSE, Bright Ideas Trust, Global Entrepreneurship Week, NACUE, Social Enterprise UK, Coadec, CFE, National Enterprise Network, RSA & EISA.

Collectively they represent over a million small businesses and self-employed individuals. Besides facilitating an improved dialogue between the government and small businesses, they are calling for a flexible labour market, a reasonable tax regime, stable business support and an international focus to be kept front and centre in the Brexit negotiations. This includes advocating for long-term residency rights of EU citizens currently living and working in the EU as well as calling for a review of funding available for business support and future plans for its expenditure.

(Source: http://www.forbes.com/sites/philipsalter/2016/10/17/small-business-taskforce/#3af7f93c4199)

Top Tips to Survive Brexit

1. Don’t panic.

2. Make sure you have a plan B.

3. Consider how your business’ unique position in the market can help you to make the most of any opportunities that Brexit may present.

4. Check in with your investors, clients and suppliers. Make sure that you’re all on the same wavelength and that you know where you want to go next.

5. Keep a close eye on the news and the markets.

Click here to see our membership packages or here to subscribe to our mailing list. We’re eager to hear your thoughts about how Brexit will impact your business and what you’re doing to mitigate or take advantage of the consequences so please leave a comment below!

Our next event will be at Indigo Blue on 9th November. The topic will be 'Having established demand and support for our product what else should we do to ensure commercial viability?" We hope to see you there!

10 Innovative Apps for Business People

In the modern world, being able to conduct business on-the-go, from your mobile phone or tablet can save valuable time. Take a look at our top picks for innovative apps that will help revitalise and transform the way in which you conduct business.

1. Wolfram Alpha. For easy access to data and data analysis – learn about almost anything, quickly and efficiently. The app is a mobile version of the computational knowledge engine and can be used to look at anything from mathematics to chemistry to data input.

2. TheStreet. Great for financial news. The Street began as an online informational website but has since rolled out apps for Android and iPhone users. The app provides users with access to up-to-date market/financial news, analysis and stock-picking insights from analysts. Aggregating information to provide a multimedia experience with data, articles and videos, the app also gives detailed quotes and analyses of stock.

3. ItSeez3d. For artists, architects and engineers looking to making a great impression with a dynamic, innovative presentation to a client. This app turns your iPad into a mobile 3D scanner. Users can view scans as rotatable 3D figures, upload them to a website which supports 3D model sharing or email them to an organisation which converts them to 3D printable format.

4. Expensify. For creating and distributing expense reports easily and quickly. The app’s intelligent automation helps users to handle their expenses in real time with one click. SmartScan a receipt, and Expensify will code and report the expense for you, before auto-submitting it for approval. The app’s rapid reimbursement system delivers the money back to the employee’s bank account by the end of the day.

5. Square Register. For those with small businesses who want to be able to manage transactions from anywhere. Launched in 2010, Square Register allows you to accept credit cards with a free card reader and free point of sale tools. The funds from swiped payments are deposited into your bank account within 1-2 business days. The app takes a 2.75% cut for all major credit cards with no merchant accounts or hidden fees.

6. Sign Easy. To save time and sign documents on-the-go, safely and legally. Users can import documents from email or the cloud, then sign and fill them in minutes. Then simply email the completed documents or save them back to the cloud. The app works with a multitude of file formats, including PDF, Word, Excel and JPEG.

7. Proven Hiring. For small business owners who want a quick and easy way to find suitable candidates. This is the first app to support job post distribution to all major job boards. You can import existing job descriptions from the Proven website, your email or Dropbox. The app also provides job description templates to get you started.

8. Card Munch. A useful tool for networking, saving space and decluttering. This free app, owned by LinkedIn, turns your business cards into LinkedIn Connections simply by taking a photo. The app has seen well over 1.8 million business cards scanned so far.

9. Own It. For small business owners looking to grow their networks. Own It is a trusted network of small business owners and self-employed entrepreneurs with the goal of supporting each other in growing their businesses.

10. MarketWatch. Provides access to the latest business news, financial data and market information. Users can receive breaking news coverage, market data and market alerts. Recent updates include broader market coverage with interactive graphs that allow you to filter across a variety of date ranges.

Click here to see our membership packages or here to subscribe to our mailing list. Leave a comment below to let us know your favourite apps for business, marketing and finance.

Our next event is today at TateHindle. We hope to see you there!