Building business in Britain
BRITAIN has always backed the entrepreneurial spirit and celebrated the person brave enough not just to have an idea but to pursue their dream – you only need look at Dragons’ Den!
It’s just the same today. The desire to succeed and create a thriving venture has never been more evident than in the number of SMEs which are blossoming across the country.
SMEs (Small and Medium Sized enterprises) are those with fewer than 250 employees.
And last year there were 5.7 million SMEs in the UK accounting for 99% of all businesses – and generating a turnover of £1.9trillion.
Many of them are led by women. In 2016, 22% of SMEs with no employees were femaleled, and 20% of SMEs with employees were led by women… a total of around 1.2 million.
SMEs come in all shapes and sizes, trades and services, from food businesses like delis to fashion ventures with vintage clothes or dog-walking services.
Button and Bear Children’s Bookshop in Shrewsbury has created a unique storybook experience. In their store, you can shop for books, grab a coffee and a slice of cake while joining in with storytime activities and events in their Hidden Woodland Storytime room.
In Birmingham, Rachel Whitehead has created a jewellery brand inspired by the flora and fauna of the Great British summertime, all designed and made by her in her small studio.
With 51% of all private sector turnover in the UK coming from SMEs in 2017, it’s a vital boost and contribution to the economy and a provider of 60% of our employment.
But the road to success is far from assured. In 2016 although there were 414 new businesses started (15% of active enterprises), 328 businesses ceased to trade – a death-rate of 12%.
So business births outweigh business deaths – unlike in 2010 where death rates were 11% compared with 10% of births – but only just.
Inflation and shaky customer demand are the biggest battles, along with rising operating costs – a threat felt by 75% of small businesses last year, according to the Federation of Small Businesses.
They need all the help and support they can get – and that’s where Office Outlet comes in.
Office Outlet can help SMEs by saving them valuable money on equipment and stationery, and allowing owners to focus on the important things, like building their business.
Its Premier Account was specially created to support businesses like local SMEs, schools, nurseries and charities, whose work benefits not just them but the whole community.
Premier Accounts offer 20% off purchases in store across thousands of lines including its Print Centres where people can print all their business stationery, flyers, posters, banners and more – and the account is completely free of charge, with no annual fee!
Premier Accounts will shortly be available on line – making it even easier for small businesses to rely on Office Outlet to help them thrive and survive.