Last year highlighted that no business – whether great or small – is safe from fluctuations in the economy. Just look at the number of closures that occurred in 2018.
So, how can SMEs and large organisations alike avoid this predicament? What can owners do to guarantee a profitable 2019?
These top business considerations could hold the key to success for this year and beyond.
Seek Out Financial Specialists
An expert in the financial field can help business leaders make the most of their assets from the word go. An expert will also be able to highlight quicker and more cost-effective ways of handling company money, such as prepaid financial services.
In 2019, a year that is predicted to affect the UK economy negatively, the right financial advisor could mean the difference between slump and growth. This is a particularly important consideration for start-ups and smaller agencies.
Boost Online Presence
Whatever their focus, all companies can benefit from having a strong online presence. A decent business website should be clear, subject-specific and engaging. Applying smart SEO practices across an online platform is more likely to maximise google ranking rates. So, it’s worth keeping page content in mind, too.
And luckily, learning tools for this abound on reliable business-specific sources. Given that last year saw non-food sales online rise by 7.5%, website optimisation could increase likelihood of success in 2019 for businesses.
Prioritise Corporate Social Responsibility
A decent business will ensure that all members of staff feel respected, valued and supported in their role. But because of societal norms, fundamental issues like mental health and gender discrimination have been largely ignored in workplaces. Until very recently.
This is mainly down to global movements like the #MeToo campaign – which began in 2017 – and the ramping up of awareness surrounding emotional wellbeing over the past few years. Thanks to these campaigns, there has been a sharp rise in open discussions on these topics in all aspects of society, especially in the corporate world.
Last year, for example, directors of leading organisations like Channel 4 and Royal Mail urged the government to deliver on her promise to prioritise Mental Health support in the UK.
So, time is indeed up for ignoring pressing matters in the workplace. Companies that fail to encourage staff to vocalise their needs could very well languish, this year and beyond.
2018 saw economic shocks, online growth and social movements influence the business world. These changes could very well make for a challenging – but also exciting – 2019. Taking on these considerations for business enhancement, company leaders can look to the year ahead feeling ready to achieve their goals.
Nicole Hicks a graduate of UFT. She’s based in Toronto but travels much of the year. Nicole has written for NPR, Motherboard, MSN Money, and the Huffington Post. Nicole is a financial reporter, focusing on technology, national security, and policing.