Start Up Loans, part of the British Business Bank, has launched a new ‘Guide to Business Resilience’ for small businesses.
The resource contains practical and actionable guidance for start up businesses on what they can do to reduce their costs, boost their profitability, and increase their resilience.
The guide has been created in response to analysis of the most searched for terms on the Start Up Loans website, as people look for advice on topics from how to best manage energy costs through to curating a positive environment for mental health and wellbeing.
Covering eight key topics for business success, the guide provides short explanations on each and a series of actionable tips for how to implement processes into business. The topics are:
- Financial planning and resilience (financial forecasting, cashflow, expenses, late payments)
- Funding options and guidance (debt financing, interest and repayments, grants and support)
- Focusing on customers (attracting them, keeping them, increasing spend and loyalty)
- Supply chain solutions (finding and managing suppliers, and saving money)
- Energy use solutions (how to assess and save on energy usage)
- Technology solutions (cloud-based services, communication and business support)
- Recruiting and supporting staff (on a budget)
- Mental health and wellbeing (for you and your staff)
Richard Bearman, managing director, Start Up Loans, said: “Small businesses are undoubtedly feeling the pressure as they navigate a complex and unpredictable economic climate.
“Beyond the financial strain this puts on businesses, it’s important to recognise the impact it can have on wellbeing to keep all the plates spinning. That’s why the Guide to Business Resilience covers everything from financial planning to mental health. We hope it acts as a useful resource for business owners so they can keep up momentum and succeed through any current difficulties they may be having.”
For more information and to download the Guide to Business Resilience for startups, please visit: www.startuploans.co.uk/free-start-up-guides
Businesses that are more established can access a separate version of the guide, aimed at businesses that have moved beyond the start up phase, at: www.british-business-bank.co.uk/finance-hub/guide-to-building-business-resilience/.