With 2019 rapidly approaching, BCU Advantage has prepared five tips to consider over the festive season to ensure your SME is best prepared to achieve growth in the New Year.
The end of the year is the perfect time to reflect and plan how to best achieve next year’s growth goals. As a minimum we recommend doing a SWOT analysis, which is simply a review of Strengths, Weakness, Opportunities and Threats to your SME. You may have completed this analysis before launching your business but as SMEs are most vulnerable within their first few years of trading, revisiting and revising your SWOT analysis regularly could help your business expand in an agile manner to any changes within your operating environments.
If you’re looking for more detailed analysis and intelligence to identify and actualise your businesses growth potential, Birmingham City University’s free SME Growth Service could offer you the support and insight you need.
Following your analysis and planning for the New Year, you may identify that hiring new talent is key to helping your SME achieve its goals for 2019.
If you’re considering hiring new recruits take a look at our e-guide "How to recruit the skills and talent your growing SME needs”, alternatively, find out how Higher Level Skills Match could help you find the skills your SME needs.
You may not know but there’s a broad array of support available for businesses within the Region, and it’s often free for SMEs registered within the GBSLEP. You can access support on everything from Digital and Data to accessing a state-of-the-art collaborative makerspace.
Try looking at our events calendar for an update on support being offered by Birmingham City University and our partners or visit the Growth Hub and the Greater Birmingham Chamber of Commerce websites directly to see how they can support.
There’s loads going on in the region for businesses and SMEs to get involved in. Why not plan additional networking into your New Year plans? How about accessing some free Business Support Workshops covering everything from strategy, leadership, process, marketing and innovation?
You can find business events and networking opportunities on our events calendar. Make sure you visit it regularly as it will be updated with new events and opportunities throughout 2019.
On a final note, however you choose to spend the festive period, please take some time to sit back and enjoy it. We know how hard SME owners work, so reward yourself, you deserve it!