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Growth during lockdown – is it even possible?

/ Accounting, Business and Economy, SME

Author: Henry Ejdelbaum

Tags: Accountancy, SMEs

Let’s face it, Covid has posed a challenge for small businesses across the UK, and as part of our ongoing campaign #ShowSMEsomelove, here are some of our suggestions for how small business can still try and grow their businesses during lockdown.

  •  Adapt, adapt, adapt – we have all heard stories about the coffee shops selling groceries, or the pet shops selling DIY goods. Is there anything new you can try; can you diversify your product range? Keep thinking about options and you might hit on the perfect thing.
  •  Digital Impact – Social media accounts are vital for small companies. It is proven to bring in more clients, and offers the possibility to gather detailed information about them – Create that Instagram competition, send that survey, and direct email campaign, so you can deliver in more detail!
  • Customer loyalty – Think about ways to increase customer loyalty, which could be offering discounts or incentives – it will also create positive word-of-mouth. Having a better grasp of their thoughts and feelings about your product or service can work wonders.
  • Transparency – All the financial systems must be solid and efficient to ensure smooth operations, and to avoid fines. On this one we can help and we would always be delighted to discuss tax and accounting needs.

Contact your local accountant for more information and to provide bookkeeping and other accounting services.