Leave a light on for small business - Worcestershire

Leave a light on for small business

by | Sep 12, 2022

When it comes to outsourced marketing support, big doesn’t always mean best – says Ruby Edwards, Owner You Do Better PR.

Uncovering the organisations within the local area can certainly reap rewards. We’re lucky to have so many to choose from: whether it’s transport or roofing, IT or insurance, the award-winning businesses really are worth a look.

Local business does not need to mean small business. Indeed, the HW Chamber’s Economic Survey for Q1, indicates the considerable financial
stress that businesses across Herefordshire and Worcestershire are experiencing. Businesses were previously showing cautious and are now reporting concern – mainly due to inflationary pressure with mitigations including increased workforce planning. The survey confirms that in the domestic market:

  • 45% of businesses have increased sales, compared to 46% last quarter. 14% reported a decrease in sales compared to 11% last quarter.
  • 22% of businesses expected their cash flow to worsen this quarter, 5% more than previous quarter.
  • 50% of businesses expected their profitability to improve in the next 3 months. Although this is compared to 56% of companies reporting an increase in last quarter.
  • 65% of businesses are confident that their turnover over the next 12 months will increase. That compares to 67% last quarter. 9% expected turnover to fall.

The survey also determines that business confidence continues to fall. Shopify have also shown cautious optimism, stating that: “The past few years have altered the way we approach everything from travel to child care. While in some ways, a return to normal is starting to happen, one thing is certain: the way we shop has changed forever.” They go on to list a number of ways in which we can all help leave the lights on for small businesses:

  • Actively discover new brands
  • Share your favorite stores in your social networks
  • Buy gifts from small businesses

This is supported by Chamber Chair, Mike Forrester, who confirms: “UK GDP rose by 0.2% in July, the latest data from the Office for National Statistics shows, a smaller increase than expected. That’s a welcome return to growth, after the economy shrank by 0.6% in June – as the extra bank holidays to mark the Platinum Jubilee hit economic output. The governments suggestion of strong support to mitigate high energy prices for homes and businesses is a welcome gesture. Inflation remains a challenge to control, but sharp falls are predicted early next year, slowing the speed of new price increases.”

To read the full Shopify article please go to: https://www.shopify.com/blog/why-support-small-businesses.

For the Economic survey and Business Manifesto, click here.

Ruby concludes: “You Do Better PR are sending a shout-out to colleagues across the two counties to support small business. There’s a wealth of knowledge and opportunity to uncover within Herefordshire and Worcestershire and we’d love to hear from you.”

Learn more about pay-as-you-go Public Relations here: www.youdobetter.co.uk.

As seen online at the Herefordshire & Worcestershire Chamber of Commerce.

 

By using this website you agree to accept our Privacy Policy and Terms & Conditions