Small Business Boost Announced in Autumn Statement

This week, Axis for Business discovered that UK Chancellor George Osborne used the yearly Autumn Statement to announce the initiation of a package of measures designed to aid SMEs.

With One Stroke

Because Axis for Business listens to what our customers say to ensure we supply cost effective energy and telecoms services to SMEs in the UK, we understand the role of government in facilitating growth.

With the responsibility of safeguarding economic prosperity, with one stroke of the pen the government can initiate policies which provide SMEs the climate they need to boost profit margins. The latest stroke of Osborne’s pen could prove extremely beneficial to small businesses throughout the UK.

A Cash Injection for SMEs

This week, the BBC reported that Osborne announced in the government’s Autumn Statement that it’s decided to invest £400 million into Enterprise Capital Funds. These are government-backed venture capital funds that invest in small businesses.

Meanwhile, Whitehall also announced in the yearly budget that it’s decided to guarantee up to £500 million in new lending funds to small businesses. Furthermore, the Funding for Lending (FLS) scheme – which is designed to increase the rate at which banks lend to SMEs – has been extended into 2015.

Time to Focus on Small Businesses

According to the publication, the new schemes are to be managed by the British Business bank, which was established by Vince Cable in 2013.

Whilst announcing the new measures, Osborne said: "Now that credit conditions for households and large businesses have improved, it is right that we focus the scheme's firepower on small businesses, which are the lifeblood of our economy."

The Lifeblood of the British Economy

Osborne makes a valid point. SMEs are the lifeblood of the British economy – this country needs them to stay in the red. Therefore, the government needs to use its power over economic affairs to ensure small business economic growth at every turn. 

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Recovery Not Benefitting Small Businesses?

New figures suggesting that the recovery is not benefitting small businesses could be vital to ensuring SME growth, in Axis for Business’ opinion.

Axis for Business, Bringing you the Latest Small Business News, Studies and Data

When you come to Axis for Business for your energy and telecom needs, you’ll find a provider who is dedicated to saving SME’s money wherever they can. One way we strive to do so on the Axis for Business blog, is to let you know the latest small business news, studies and data.

After all knowledge is power; power to lift your bottom line, and keep your SME in the red. That is why we believe that a new study by Virgin Media Business suggesting small business owners believe that the economic recovery has not benefitted them is one you need to know about.

One if Four Small Businesses See No Growth for Next Six Months

According to smallbusiness.co.uk, the study involved more than 1,000 UK SME’s and showed that one in four small business owners are predicting zero growth figures for their company for the next six months.

Meanwhile, the survey also revealed that almost a quarter (24%) of small companies believe that the current state of the economy is the biggest block in their path to facilitating business growth. Furthermore, over half (53%) believe receiving effective business advice is one of the greatest challenges to setting up a new company, yet only 8% turn to the government when confronted with problems.

SME’s Need to Invest in Digital Training

Technology was also cited as a major reason for lack of growth, with only 20% of those businesses surveyed suggesting that they are focusing on investing in digital training in the next five years.

Virgin Media Business’ Mike Smith commented on this finding, suggesting that “small and medium-sized firms should be the fuel of our economy powered by simple, flexible technology, but we feel that industry and the government need to look at ways it can provide more support and direct assistance to this group which is UK plc’s driving force.”

Mike Smith, Virgin Media

Invest in Digital Training to Remain Competitive in the Market Place

At Axis for Business, we wholeheartedly agree with Smith. The fact that so many SME’s feel the economic growth is not benefitting them is telling and the fact that so few are investing in digital training is as well.

That is why the government – which many don’t feel confident turning to as it is- needs to focus on promoting digital training to small business – and why you need to invest in digital training to make your SME more competitive in the market place. 

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Businesses Express Relief at Scottish ‘No’ Vote

Last week saw the people of Scotland vote ‘no’ in a historic referendum, at Axis Telecom we witnessed the reaction of the UK’s business community, who expressed relief.

Fears for business over a ‘Yes’ Vote

Axis Telecom have been keeping a keen eye on the Scottish debate over independence. In the run up to last Thursday’s vote, businesses spoke out against the measure in the media, many felt that a ‘Yes’ vote  would be bad both for their profit margins, and for the national economy as a whole.

It’s true that many businesses owners on both sides of the boarder were pleased with the outcome of the referendum. Those institutions with large investments in the area were quickest to express the relief they felt.

Banks lead Reaction to ‘No’ Vote

The banking community in particular expressed relief at the ‘No’ vote. Banks such as the Royal Bank of Scotland, Standard Life, Lloyd’s TSB and Tesco Bank had stated they would consider moving their operations south of the border should Scotland vote to break away from the UK.

RBS put out a statement suggesting that following a ‘no’ vote, "that contingency plan is no longer required. Following the result it is business as usual for all our customers across the UK and RBS," a decision echoed in statements by Standard Life, Lloyd’s TSB and others.

Business Lobbying Groups Welcome the ‘No’ stance

Meanwhile, business groups, who represent the best interests of SMEs expressed “relief” at the decision. The Confederation of British Industry (CBI) director general John Cridland commented that "business has always believed that the Union is best for creating jobs."

He added that, "this is a momentous day for our United Kingdom and this result will be greeted by a collective sigh of relief across the business community."

Business Community in relief

Scottish Independence may have been an explosive subject in Scotland that stirred up some passion on both sides, but the expression of relief at a ‘no’ vote by the business community is powerful. It suggests that staying together is better for the business community at large - a suggestion mirrored by the sudden rise of the pound on the release of the news. Small business have expressed relief because it seemed as if they would have been most vulnerable to a possible economic fall-out if a ‘Yes’ vote had been victorious.

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How to Become a Paperless Office

Businesses incur considerable paper costs every year, which is why Axis for business is taking the time this week to let you know how to become a paperless office.

How much does Paper Cost a Small Business

As a low cost utilities supplier who prides ourselves on the quality of our customer service, Axis for Business always strives to find new ways to help small businesses across the UK save money. That is why this week, we want to bring to your attention the cost a small business incurs through sustained use of paper in the office.

You may not think that paper can drive down your profit margins, but it really can. Did you know that the average office worker uses 10,000 sheets of paper per annum? This  means that the cost of using the paper – which often includes not only buying it, but storing it, printing it, copying it etc. - can run between 13 and 31 times that of actually buying it.

A study has been conducted on this in the US. The study found that paper actually costs a small business up to 31 times the amount it takes to buy it; say you paid $5 dollars, you could end up paying up to $155. Translation; roughly speaking, in the UK it would mean that if you pay £3 for paper, it could actually cost you up to £92.

Axis for Business’ Top Five Tips for a (Somewhat) Paperless Office

That’s why it pays to become paperless. In many cases, it is impossible for a small business to actually become completely paperless. However, you can limit the amount you use with the following five tips from Axis for Business:

1)      Do Everything You Can Online: On average, you’ll pay for less for the internet you’re using anyway, than for extra paper. That’s why if you have the opportunity do something online, you should take it.

2)      Edit Documents On Screen: There’s no point printing edit after edit of a document out, when you can simply edit it on a computer for free. It’s also far easier to actually edit something when you don’t have to keep printing it out.

3)      Try File Sharing: With cloud technologies such as Dropbox at your disposal, you don’t need to devote reams of paper for file sharing. For a minimal investment, you can get an office Dropbox account and share whatever files you need with lightening-speed access without using a single sheet of paper.

4)      Make Use of Scanning: Copying is one of the most expensive paper costs for small business. However, if you scan a document and share it via computer instead, you’ll massively reducing your copying bill.

5)      Promote Paperless Initiatives: One of the best ways to create a paperless environment is to encourage your employees to reduce their use of paper. Try offering incentives and watch, as they take pains to make sure they use as little paper as humanly possible.

These days, there is no excuse to pulp the entire contents of the amazon and drive up your office paper bill. Yes, you probably won’t be able to become completely paperless. Yet with these tips from Axis for Business, you can reduce your paper use enough to radically alter your company’s bottom line. 

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Four Ways to Reduce the Use of Landlines for Small Businesses

Landline use can be a major drain on your businesses bottom line, which is why this week, Axis for Business brings you four ways to reduce the use of landlines for small businesses.

Axis for Business listens to its Customers

If you are looking for the energy and telecoms provider who cares about what their customers have to say, look no further than Axis for Business. A low cost independent energy and telecoms provider, by listening to you, we’re able keep our service competitively priced.

We’ve heard first-hand how much a landline can cost a small business. A small business depends upon communication to survive. However, that does not mean that you should be held hostage by the cost of using a landline, just to keep your business afloat. In the modern world, it’s not so straight forward.

Here Are Four Ways to Cut Down Your Use of Landlines

There are several methods you can utilise to decrease the use of the landline in your office, and in Axis for Business’ opinion, these are the top five…

1. Contract Mobile: If you have staff who heavily uses the phone i.e. a sales team, why not invest in a contract mobile company phone with unlimited minutes? That way, they can call out as much as they need and not have to worry about the phone bill.
2. Email: As far as basic office communication goes, there’s a reason that most offices have embraced email. It’s extremely cost effective. In fact, with the exception of the costs incurred by bringing the internet to your office, it’s free.
3. Skype: Another internet communication method that’s essentially free is Skype. Skype allows you to be more specific than you would in an email, yet it costs practically the same as email to use.
4. Google Hangout: An alternative to skype is Google Hangout. It’s similar to skype, however it’s more suitable for conference calls. Whilst Skype only allows for one-on-one interaction, on Hangouts, you can invite up to nine participants.

Yes, small businesses stills need landlines for some purposes i.e. incoming calls. Yet in the modern world, you aren’t nearly as dependent on them as you used to be. Embrace modern technology and reduce the effect that landlines have on your utility bills in the process!

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