business threats

Increased Competition Named as Small Businesses Biggest Threat

Rising material costs and red tape barriers named as other major concerns for companies A new report by Bibby Financial Services revealed start-up rates were at their highest in five years, with 24% of small and medium firms stating that an increase in competition was their biggest concern. According to Companies House data there were 54,336 incorporations in March with figures continuously rising since the recession ended (see graph below). The research, which involved a survey of 1,000 businesses, also highlighted other key concerns for small and mid-sized business. Rising raw material costs (15%) was listed as the second biggest threat (13%), followed by barriers due to red-tape (13%), access to finance (9%) and a lack of skilled staff (8%). David Postings, UK CEO of Bibby Financial Ser... »

How to Cope With Threats to Your Business

How to Cope With Threats to Your Business

Identifying and dealing with threats to your business is part and parcel of managing any company, unless of course you’re lucky to have a monopoly or even a niche with an endless supply of business. Recent threats to our business have come in all shapes and sizes and often, all at once. The most aggressive tactic we’ve seen is a competitor who cloned our entire website, down to the last sentence; the only change they made was to change the colour scheme and logo, nothing else differed. We work hard to make sure our consumer journey is as good as it can be, so this blatant copy was particularly infuriating. Much more than just other businesses the print industry is also under significant pressure from environmental groups and concerted efforts to reduce printing. While we are at pains to re... »

Business Threats and Opportunities in Digital Britain

Landmark audit forecasts the direction ‘digital Britain’ is heading. The passing of the Digital Economy Act in April has thrown up a whole host of issues for those in the digital entertainment industry. No longer a niche industry, but resolutely mainstream, how many small businesses are able to get to grips with the lightning speed at which the world of digital entertainment and consumer behaviour is changing? As a new report suggests consumer behaviour and attitudes are shifting almost as quickly as new technology itself is emerging, how can organisations large and small, new and established, keep up to speed with key commercial issues affecting them and shaping the industry at large? Social media is now very much for the masses, but how permissive can brands be in reaching au... »