Small businesses face many financial difficulties during their starting years. Additionally, for many of them things never quite improve much for a long time. Well debt consolidation from Likely Loans can certainly help in that situation, not getting in debt in the first place is often ideal.
In 2015, Forbes estimated that about 90% of startups fail, highlighting the rigorous competition and challenges newer and smaller companies face at every turn. This is largely down to the mismanagement of their finances, depleting the firm’s capital.
However, many successful SMEs instead utilise free resources in order to get by. Consequently, here are the most useful free resources an SME can use.
An entrepreneur must be knowledgeable before any actions are taken in starting a business. Research needs to go into the industry they’ll be operating in, the type of product on offer, and all the laws and legislations surrounding workers and staff. There’s a lot of information to consume, and if it’s ignored, hefty fines and business closure will come their way.
However, websites like Gov.uk can get entrepreneurs up to speed in a flash. It’s a free website and provides a detailed rundown of what a business needs to accomplish in order to operate legally, no matter the industry. For example, if an enterprising individual wants to start a food business, they can use the website as a resource to find out how to store, cook and serve food effectively. Websites might not seem like a resource for many, but when they come from an official body, they’re well worth the read.
When staff have been working at a firm for a long time, it’s easy for them to get complacent on the job. Perhaps unhelpful shortcuts are used or less work is produced, and workers just tend to get a little bit too comfortable in their role. If this situation is left unaddressed it can be dangerous for the firm, driving productivity down and everything else with it; sales, problem solving, communication, etc.
However, online courses are that perfect tool that can be utilised to kick things back into gear. Some of them are expensive, but many providers offer quality courses for free to issue to employees. They can cover anything from corporate legislation to the requirements of a certain job role, helping employees perform better at work and stay on task. Moreover, many of these courses can be accessed from phone or computer, adding flexibility to the learning process.
While a business person might not like to consider random blogs as a resource, they can be quite useful; especially if they have their own blog representing the firm. The best resources offer a sense of give and take between the business and the consumer, and this is exactly what WordPress can help firms achieve. It’s communication to the outside world, and puts SMEs on a global stage where before they might occupy the corner of a street alone.
Many blog creating sites use a subscription service, but WordPress can be used to create and maintain a blog for free. This can be a company encyclopaedia, providing recounts of a company event or a post detailing sparkling new sectors of interest. A WordPress blog is a resource for customers, and thus a resource for the business in turn too. After all, a firm can learn their customers interests by fashioning their own into well written material