For business owners, the turn of a new year brings optimism and opportunity. In a survey by the Royal Mail at the start of 2019, seven in ten UK SME retailers expressed confidence that their sales will increase over the next 12 months. But, for growth to be a realistic possibility in 2019, you’ve got to find ways of giving your business the kick-start it needs to flourish.
Significant challenges will need to be overcome to achieve solid business growth. According to a study by Dun & Bradstreet, the biggest tests for UK SMEs are an uncertain economy, staying ahead of the competition and being able to target new customers for growth.
Shire Leasing supports SMEs to meet these challenges, helping set them on a path for business growth. Here’s how:
1. Retain healthy cash flow
In an uncertain economy, you’ll want to ensure a healthy cash flow, so that if demand for your goods or services should decrease suddenly, you know that you’re not going to run out of money.
In the same breath, business growth only comes with significant investment in those goods or service, otherwise you could find yourself standing still and unable to target new customers.
Shire Leasing offers you the opportunity to make that leap forward, but without having to make the total investment in one payment. Rather than spend a large sum of cash on an asset that will lose value, asset finance allows you to pay for the equipment as you use it.
2. Utilise the best equipment
To make a step-change in the way that you do business, you need to apply the latest and best equipment and technology to your advantage, helping you steal market share from your competitors and enter new markets.
New equipment can help you attract new customers while retaining current ones. However, many companies feel like their hands are tied from upgrading, either because of a lack of funds or a lack of space.
Leasing the equipment instead means you can always have the best the market has to offer. With many of Shire’s finance solutions, you have the opportunity to upgrade at any time.
3. Keep staff happy
Business growth is only possible when everybody within the company is pushing in the same direction, driven by a shared purpose and passion. So it’s crucial that you do everything you can to keep staff happy and on board with the company’s growth strategy.
For most people, a big part of being happy at work is being able to do their job to the best of their ability, but old equipment can act as a barrier to fulfilling potential, causing frustration and dissatisfaction.
New equipment can help unlock the potential of your staff, in turn, unlocking the potential of your business. It can help to retain staff, too – nearly half (42%) of millennials say they’re prepared to quit their job if the tools they’re given to do their jobs are not up to their standards, as per a survey by Dell.
Using asset finance, you can upgrade equipment, helping to retain current staff and attract new talent, without having to pay for it upfront and outright. Shire Leasing has the appetite to fund almost anything business-related, offering a number of different finance solutions, tailored to meet the individual needs of your business.
Set your business on course for growth today, contact Shire Leasing on 01827 302 066.