UK small business hiring continued to show signs of recovery in the face of a challenging macroeconomic environment, with employment rising 1.4% year-on-year (y/y) in the first quarter of the year (January-March 2024). According to the latest Xero Small Business Insights (XSBI) data from global small business platform, Xero, this represents the largest hiring growth in two years for UK small businesses. Xero’s data also revealed that wage growth rose to 3.3% y/y in the March quarter, from 3.2% in the December quarter. Increasing wages are an indicator that small businesses are working hard to ..read more

By Ross Pearson, Head of Small Enterprise, Virgin Media O2 Business How do you solve a puzzle like productivity? SME leaders across the UK are often looking to find the next great solution to create a nation of ‘productivity heroes’  (the term coined for SMEs which grow their revenues faster than their headcount). SMEs currently make up 99.9% of the UK private sector, so identifying the right steps to drive productivity across the segment could create massive growth and set the UK economy on track to boom. Over the past 15 years, however, the increase in annual average productivity i ..read more

By Andy Perkins, below, MD, International Operations, Vistage As we enter a new financial year SMEs are readying themselves for a period of growth as the economy continues to recover from injuries inflicted by the pandemic. As revealed by the latest Vistage Confidence Index report, business leaders remain buoyant about the future and are expecting continued improvement in economic conditions in the next 12 months. In fact, data from the report shows that while a striking 66% of business leaders expect revenues to increase, 50% forecast an upward trajectory in profitability in the coming months ..read more

By Kevin Ruef, below, co-founder, 10-8 Systems Creating and marketing SaaS products and services can often be a challenging process. Considering how many individuals and businesses rely on SaaS solutions every day to help streamline their workflows or organize their day-to-day, there is also an endless list of competitors all vying for the attention of potential new customers. However, there are a variety of strategies that SaaS companies can use to help maximize their sales potential by attracting the right leads to their business and closing them effectively. Understand Your Ideal Customer P ..read more

By Beverley Flynn,  left, head of data protection at law firm Stevens & Bolton and Laura Burge, right, a trainee solicitor in the team In order to enhance the value of a small- or medium-sized business for the sale process and to avoid any onerous requirements on sellers to give indemnities on a sale, it is wise to bear in mind the key data protection obligations prior to selling your business. The UK GDPR includes general data protection regulations, the Data Protection Act 2018, and the Privacy Electronic Communications Regulations (EC Directive) 2003 (UK GDPR) –and there can b ..read more

SimVenture directors, from left: Paul Brough Jones (COO), Paul Harrington (Co-founder & CTO), Peter Harrington (Co-founder & CEO) A family-owned craft drinks B-Corp, an electric vehicle company and a rapid diagnostic tests specialist are among the 2024 winners of the Department for Business and Trade’s (DBT) Made in the UK, Sold to the World Awards. Now in their second year, the awards celebrate the international sales success of small-medium businesses across the UK and provide a stepping stone for further growth and opportunity. Winners include Warner’s Distillery, an independen ..read more

Responding to news that CPI rose by 3.2% in the year to March 2024, down from 3.4% in February, Tina McKenzie, Policy Chair, Federation of Small Businesses  said: “March’s fall in the annual consumer price inflation rate takes some more of the heat out of rising prices for small businesses. It’s difficult to overstate the toll that the cost of doing business crisis exacted on small firms, so further signs that its worst effects are firmly behind us are very welcome. “Small business owners know all too well that they can never be complacent, especially in an economic situation charact ..read more

This Q&A was provided to SME magazine exclusively by HMRC The new financial year is often an opportunity to get organised for the year ahead. For self-employed parents juggling the demands of running a business with caring for their family, it could also be a good time to review the family planner and take a fresh look at the household budget to ensure they’re getting all the support they’re entitled to. SME Magazine asked the experts at HM Revenue and Customs (HMRC) to outline the financial help available for our readers so they can access the childcare they need while keeping an eye on t ..read more

By Phil Doyle, Founding Director, 5Plus Architects For as long as they’ve existed, offices have been culture carriers. That means your office sets the tone of your business; it’s where people get the essence of what you’re about, what matters to you, and how you treat your people. Today, the office is also a demonstration of how much attention your business pays to the protection of the planet. While there is an onus on property developers to create commercial spaces that tick boxes when it comes to sustainability, there is also a huge benefit for business owners to seek them out. By choosing ..read more

Steven Bartlett, Chairman of Flight Studio, with, left, Christiana Brento and Georgie Holt Photographer: Tom Harrison Steven Bartlett, entrepreneur and host of Apple’s #1 podcast of 2023 and the 2nd largest podcast on YouTube, ‘The Diary Of A CEO (DOAC)’, has announced the launch of Flight Studio a global podcast media and technology company. The new company is working across every component of the podcast development, creation, growth and monetisation process – and is aiming to redefine the industry. Flight Studio’s podcast and media growth platform is the culmination of the last th ..read more