Dennis John’s Post

💪 Economic Challenges and Resilience: UK SMEs Rise to the Occasion 💪 In the face of economic uncertainties, including inflation and Brexit-related challenges, UK SMEs are demonstrating remarkable resilience. 🌍 Despite these hurdles, many are optimistic about achieving significant revenue growth and are steadfast in their focus on innovation and adaptability. This spirit of resilience is a testament to the determination and ingenuity of small and medium-sized enterprises across the UK. By embracing new technologies, diversifying their offerings, and staying agile, SMEs are navigating the complex economic landscape with confidence. 🚀 The commitment to innovation and adaptability not only helps businesses survive but thrive in these challenging times. It's inspiring to see how SMEs are turning obstacles into opportunities, driving growth, and contributing to the economy. 🌟 Let's continue to support and celebrate the resilience and forward-thinking approach of UK SMEs. Together, we're paving the way for a prosperous future! 🌟 #EconomicChallenges #Resilience #SMEs #UKBusiness #Innovation #Adaptability #RevenueGrowth #Inflation #Brexit #BusinessSuccess #EconomicResilience #FutureOfBusiness

The Three UK Ambition Index checks the mood and sentiment of UK SMEs. Despite what you might think, the mood of the last survey was good with 70% of SMEs expressing optimism about their prospects in 2024. 🌿The West Midlands region has the highest level of optimism at 85% Simon McAlpine. 🌿62% say the outlook is better at the start of 2024 than it was at the start of 2023. 🌿70% say growth is the #1 priority over the next 12 months. 🌿71% SMEs are investing in 2024 (London is the #1 region for investment Mark Flinders. 🌿Marketing is the #1 area for investment: £35bn 🌿Recruitment is the #2 area for investment: £27bn 🌿£19bn of investment is planned in AI and digital technologies. The conclusion? "UK SMEs are looking forward to a bumper 2024, as they expect to hit an average of 15% year-on-year revenue growth, bringing overall SME turnover from £2tn to £2.3tn next year." #sme #growth

SMEs are the powerhouses of Australia's economy, contributing over $700 billion and employing nearly half the workforce. Yet, they face tighter credit and fewer options in today's uncertain financial climate. Flexible financing isn’t just helpful; it’s essential. Empowering SMEs with diverse lending pathways means innovation, resilience, and a growth engine that benefits us all. Let’s back them up, and watch the whole economy soar. #SupportSMEs #EconomicGrowth #Innovation

Australia's economic growth may be slower than anticipated, but brave SMEs can still thrive! 🚀 Australia’s Q3 2024 growth is only 0.3% q/q and 0.8% y/y, yet don't despair - the economic slowdown is creating unique opportunities for those who can adapt. With high-interest rates anticipated until mid-2025, it might be time to focus on boosting operational efficiency, adapting to changing consumer habits, and taking advantage of government spending. 📈 💡 Discover how to pivot your business during these challenging times: https://buff.ly/3OIr6KS 📥 📥 📥 📥 📥 Stay ahead in business! Subscribe to our free daily newsletter now: https://buff.ly/3QlzuB6 📥 📥 📥 📥 📥 #AustralianEconomy #SMEs #EconomicGrowth #InterestRates #ConsumerSpending #GovernmentSpending #BusinessAdaptation #OperationalEfficiency

𝐓𝐡𝐞 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐒𝐌𝐄𝐬 𝐢𝐧 𝐑𝐞𝐯𝐢𝐭𝐚𝐥𝐢𝐳𝐢𝐧𝐠 𝐭𝐡𝐞 𝐔𝐊 𝐄𝐜𝐨𝐧𝐨𝐦𝐲: 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐯𝐢𝐭𝐲 𝐢𝐬 𝐊𝐞𝐲 As a business coach working closely with SMEs, I’ve seen firsthand the incredible potential these businesses have to drive meaningful change in the UK economy. Over the years, I've worked with numerous companies that have transformed themselves through a relentless focus on productivity, and in my opinion, this focus is what will turn the UK economy around. SMEs make up over 99% of businesses in the UK, and their collective impact cannot be overstated. To truly turn the tide, increasing productivity within these businesses is not just important—it’s essential. Here’s why: 1.     𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐆𝐫𝐨𝐰𝐭𝐡: Increased productivity leads directly to higher outputs with the same or fewer inputs. For SMEs, this means more efficient operations, higher profits, and the ability to reinvest in their businesses. On a macro level, this contributes to GDP growth and economic stability. 2.     𝐉𝐨𝐛 𝐂𝐫𝐞𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲: As productivity rises, SMEs can expand more confidently, creating jobs and reducing unemployment. This job creation cycle strengthens the economy, providing a stable base for long-term growth. 3.     𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞𝐧𝐞𝐬𝐬: Higher productivity often goes hand in hand with innovation. When SMEs streamline their processes and embrace new technologies, they become more competitive, both domestically and globally. This keeps the UK at the forefront of international markets. 4.     𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞 𝐢𝐧 𝐔𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧 𝐓𝐢𝐦𝐞𝐬: Productivity equips SMEs to better weather economic challenges. By maximizing efficiency, they can maintain profitability even in tough conditions, ensuring their survival and contribution to the economy. In my experience, by focusing on productivity, SMEs have the power to transform the UK economy from the ground up. The next steps? Implementing targeted strategies, from leveraging technology to investing in training and development, will be crucial. I’d love to hear your thoughts on this. How do you see SMEs contributing to the UK’s economic revival? Let’s discuss in the comments below! #SMEs #UKEconomy #Productivity #EconomicGrowth #Innovation #BusinessResilience

Last week, I had the pleasure of visiting the Solomon Islands to present a report I wrote last year on behalf of the ILO and UNDP. The report, Supporting the Transition Towards Sustainable Growth and Formalisation in the Solomon Islands, is a National Action Plan for the Solomon Islands Government. It was launched on 28 March 2024. This work highlighted several lessons regarding the informal economy. It showed me that because business growth involves selling to strangers, business formalisation is essential in accessing new markets. These strangers are from outside the local market. Unlike local customers, they are unknown to the business, and the business is unknown to them. Strangers need some degree of confidence in the business they are buying from. Only through formalisation can businesses begin to give their new customers–these strangers–confidence. #Informaleconomy #Formalisation #SME #Businessenvironmentreform #businessenvironment #privatesectordevelopment #SolomonIslands

New research suggests UK SMEs could see a £2.4 trillion investment boom over the next two years if funding challenges are overcome. Despite 65% of SMEs wanting to invest at least £100,000 in their businesses, lack of credit and government investment incentives remain significant barriers. 17% of SMEs lack confidence in pursuing investment goals due to stricter lending criteria and cautious mainstream banks. The upcoming General Election has SME leaders hoping for supportive policies to unlock growth potential. With 5.5 million SMEs contributing 53% of the private sector turnover, improved support could significantly boost the UK economy. What do you think? https://lnkd.in/eUBYtC-c

A $38 billion equity gap is holding back the potential of Australian SMEs, according to the latest Powering the Growth Economy report. With 35% of ambitious businesses seeking external equity but over half falling short, it's clear we need a stronger framework to support growth. The Australian Business Growth Fund (ABGF), Powering the Growth Economy report is the first in Australia to spotlight established businesses with revenues between $2 million and $100 million. Curious to see the numbers and understand the challenges and opportunities for Australia’s growth economy? Dive into the full article and download the report here. #businessnewsaustralia #SMEgrowth #ABGF #equitygap #economicdevelopment

Interestingly, SMEs (Small, Medium Enterprises), are the backbone to may country’s economy. GOV.UK data suggests that the contribution of SME was £2.4 trillion in 2023 with 53% stake amongst the private sector contribution. Similarly, contribution to employment is also impressively 16.7millions with 61% stake amongst private sectors. As a diverse business community, priorities are obviously different; and are to be looked at holistically. But how? To find out, please check our up-coming post on Friday 19th Apr 2024. #pmpsconsulting #SME #Growth #Economy #Business

🌟 Key Government Plans for SMEs: Economic and Investment Support 🌟 The government has rolled out some game-changing initiatives to bolster Small and Medium-sized Enterprises (SMEs). Here's a snapshot of the key measures: Permanent Full Expensing: Businesses can now permanently claim 100% capital allowances on qualifying main rate plant and machinery investments. This move reduces taxes by up to 25p for every pound invested, marking the largest business tax cut in modern British history, worth £10 billion annually. Business Rates Support Package: A comprehensive £4.3 billion package over five years includes: 75% Relief for 230,000 properties in the Retail, Hospitality, and Leisure sectors. Freeze on the Small Business Multiplier, protecting around 90% of ratepayers. Growth Fund: Establishment of a new Growth Fund within the British Business Bank with a permanent capital base of over £7 billion. This fund is set to support high-growth companies by unlocking pension scheme capital. These initiatives are set to drive growth, enhance financial stability, and foster innovation across the SME sector. Exciting times ahead for our entrepreneurs and business leaders! #SMEs #EconomicSupport #Investment #BusinessGrowth #TaxRelief #Retail #Hospitality #Leisure #GrowthFund #BritishBusinessBank #Entrepreneurship #Innovation