Starter for Ten - The key to resilience
Businesses are still grappling with the repercussions of the economic conditions, rising costs, and a lack of clear guidance on accessing finance.
To address these crucial issues and support smaller businesses effectively, the British Business Bank released the?Guide to Building Business Resilience?earlier this year, which we've shared details of in this newsletter.?The guide is packed with impartial, practical and actionable information to help smaller businesses manage costs, boost profitability and increase resilience.?
British Business Bank has also been discussing business resilience with?Dryad, a Welsh sportswear brand looking to empower women. In their latest podcast, Matt talks about cash flow challenges, the power of partnerships, and future proofing. Enjoy the podcast?here, whilst you read more about resilience in this week's newsletter.
Have a great week,
Head of Marketing and Communications
Building business resilience with British Business Bank
For small business owners, rising costs can be a real challenge. It's easy to get overwhelmed trying to keep a business afloat in an uncertain economy of high inflation and potential recession.
The new Guide to Building Business Resilience from the British Business Bank contains impartial, practical, and actionable information and support to help smaller businesses manage their costs, boost their long-term profitability, and increase their resilience.?
There’s guidance on everything from energy efficiency to controlling staff overheads to help smaller business owners build a foundation for both resilience and innovation to help protect their business. Other areas covered in the guide include:
· foundations for growth
·?managing business costs
· securing funds and controlling debt
· focusing on customers
· optimising your supply chain
· investing in technology
The impact of the interest rate hike on regional small businesses
The Bank of England has increased the interest rate by 0.25 per cent to 5.25 per cent – the 14th consecutive rise – in a bid to keep inflation under control.?As well as being bad news for homeowners struggling to keep up with rising mortgages, the rate rise also spells trouble for SMEs who are currently battling a host of issues.
It causes continued uncertainty while businesses were dealing with rising energy bills, global supply chain problems, recruitment and skills issues, a flat economy and inflation.?Entrepreneurs say higher interest rates and the cost of living crisis are taking their toll.
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Fortitude: The myths of resilience and the secrets of inner strength
In this book, Bruce Daisley disproves the myth that only extraordinary people are successful, shows how to achieve a sense of control through simple mind exercises, and, above all, demonstrates how we can draw on those around us to empower ourselves and build our inner-strength.?
Offering empirically tested advice, Fortitude sets out a practical path to greater self-confidence and courage, not just for the elite few, but for us all.
Women: Wealth management’s underserved segment
In Western Europe,?women investors now control roughly a third of total assets under management (AUM), valued at some €4.6 trillion. We expect this share to grow rapidly over the next few years, partly because of the rising number of married women taking responsibility for household financial decisions. Women’s assets are projected to grow at roughly 8.1 percent CAGR to 2030, according to our analysis, while men’s assets grow much more slowly, at roughly 2.7 percent.?
By 2030, women’s share of investments is expected to reach 45 percent of AUM and a total of €10 trillion. Recognising this shift, some leading institutions are setting up dedicated units to serve women investors, though many others have yet to act.?
To understand customer preferences on advisory and investment products, including gender differences in investment needs and behaviours, McKinsey in 2021 embarked on research into investment and gender, surveying almost 3,000 women and 2,000 men in the affluent, private banking, and high-net-worth investment markets in Western Europe.
Founder stories: The Climbing Hanger - Ged MacDomhnaill
This week?Natasha Wallace?spoke to Ged MacDomhnaill, founder of The Climbing Hanger, a fast growing chain of indoor climbing walls, with a vision to ‘get everyone off the ground’.
Ged likened his experience of being a business founder to ‘being fired out of a cannon’, talking about needing to live in a cupboard in the early days of the business due to a difficult early-stage experience, where he worried that he’d ruined his life.??Ged also shared his amazing achievement of being recognised by the UN, and how the high points of the business have really helped along the journey.?
Conscious Leadership Expert. Executive Coach. Speaker. Author. Former CPO. On a mission to help 100 million people to thrive through a conscious and peaceful approach to leadership and living.
1 年Tom Armes