new business

Creating New Business is Top Concern for Small Firms

Companies that describe themselves as “highly ambitious” significantly more concerned about business issues Creating new business, legislation changes and keeping existing sales volumes were named as the top worries for small businesses in 2015, according to research by finance group Santander. The top concern among small and medium enterprises is gaining new customers, with 44% of firms saying that they are worried about their ability to generate additional business in 2015, this was followed by apprehensions over red tape (37%) and maintaining sales volume (36%). Other key concerns that emerged from the research, which included the opinions of 800 small and medium enterprises, include cashflow (35%), managing employees (35%) and customer credit risk (28%). The research also revealed that... »

Winning New Business in a Competitive Environment

By Lloyds TSB Commercial When public and private organisations cut their spending and contracts are lost, making new contacts and opening up new business opportunities is vital. With just over 2.1 million VAT and PAYE registered enterprises in the UK, growing your business network is more important than ever. At Lloyds TSB Commercial, we understand that when you’re busy with the day-to-day running of your business, you need a time effective way to expand your local business connections. That’s why we’re running 200 free events to allow SME owners to do just that. As well as networking opportunities, these local events provide an opportunity to explore the sustainability market, which by 2013 is estimated to be worth £5.5 billion in the UK. Our locally based Relation... »

Improving Your New Business Efforts

Misconception Always be cautious of the assumption that you have a healthy pipeline. Sales fortunes can transform rapidly so never limit your sales efforts through complacency. Remember the following… Don’t: Think that your sector of business does not warrant a devoted sales focus Assume your client base or prospect pipeline is healthy enough to ignore Rely on referrals and responses to advertisements Depend on the same sized companies or sectors for business Do: Recognise the importance of selling ability to any business Grow your client base at every opportunity Be proactive, take ownership of your new business acquisition Approach new markets and secure bigger contracts Try To C.L.O.S.E. The C.L.O.S.E. acronym emphasises the fundamentals of improving your sales conduct. C is... »

Lost Time is Lost Money

"New Business" Response Times It may seem like a cliché but in business time really is money. And to back that up new research, supported by the UK’s business leaders, reveals a shift in response times to "new business". Critically there is a "two hour window" in which to respond to a sales enquiry otherwise one in three companies will say they will simply take their business elsewhere. Vodafone’s latest research into mobile working polled more than 1,000 managers, directors & business owners and found the true cost of businesses failing to communicate with customers. Only 20% of sales staff have any form of mobile communication with their offices the average value of a lost sales call is £18,000 and in higher-stake businesses that... »