Biggest Problems For SMEs 223

Biggest Problems For SMEs & Their
Solutions.
Businesses and small-medium sized enterprises (SMEs) seek stability

and continuity – but recent findings from the SME Growth
Tracker suggests they don’t currently have that. In this post, we explore
the problems small London businesses face, and what role IT plays in
overcoming them.
1. Poor Use of Technology
Small businesses often suffer from poor, dated or disconnected IT

systems.
Inefficiencies in IT tend to arise in expanding businesses, where

new tasks are incorporated and (existing, disparate) processes lack
proper integration. As a result of growth, SMEs often experience
internal departments using systems that
are unnecessarily disconnected from other areas of the business.
Solution:
A good IT managed service provider will understand your business so
they can integrate new and old systems, streamline tasks, and improve
your existing infrastructure within the shortest possible time frame. Find
out more about the benefits of outsourcing your technology strategy to a
professional IT service provider.
2. Expanding Globally
Expansion poses a challenge for any business. Particularly when it

involves extending services to new sites in the UK -- or
internationally. It’s worth noting that only 17% of UK mid-sized
businesses generate revenues outside of the EU compared to 25%
in Germany and 30% in Italy. So why do businesses in the UK lag
behind.
Solution:
Seeking accurate legal or tax advice before making the first steps
abroad is vitally important. Businesses such as Trade Horizons can
offer your business the expertise and support you need to establish and
grow your business in the UK or beyond.
Our aim here at UK IT Service is to enable business decision-makers
to maintain focus on all legal/legislation implications without the need
to consider the impact an overseas expansion has on their IT setup.
Adjusting your technology and suggesting improvements to best
accommodate changes within your company is our area of expertise.
3 Managing the Supply Chain
With business growth comes added layers of complexity. It’s a challenge

to keep track of every detail within the supply chain -- be that logistics,
stock control or finance.
Solution:
Staff and management thereof are of course crucial. But SMEs
increasingly lean on technology in order to responsibly assist the supply
chain. Most areas of business in today’s digital age, technology is used
for support — from product development at the forefront, to project
planning at management level, to accounting at the back-end.
4. To Cloud, or Not To Cloud?
There are compelling reasons

to move your business to the cloud.
Providing access to information anywhere, anytime across multiple

devices is fundamental for the modern-day business looking to capitalise
on the ‘always on’ workforce.
Solution:
Realizing the benefits of mobile and flexible working requires careful
use of Cloud and mobile technologies. An IT specialist can assist with
this.
UK IT Service can bridge the gap between technology and your
business. We believe in stripping back the tech jargon and providing
pragmatic solutions. Our staff won’t suggest new technology just
because it’s ‘trendy’.
While Cloud may well be the future for many UK SMEs, whether you
choose to employ it ultimately depends on a number of factors including
your IT budget and business plans. Browse through our various cloud &
hosted solutions and see the benefits of Cloud computing solution to
your small business.
5. Information Security and Compliance
In recent years there’s been a surge in mobile data usage. As a result,

cyber threats are more sophisticated, data breaches are more common,
and information security compliance is higher on the government’s
agenda. Security is becoming increasingly difficult to manage.
Solution:
Independent security experts are able to guide businesses towards
protecting the interests of their staff and clients. Just be aware that some
solutions are expensive and over-excessive. Look to strike a balance —
where regulations are met, all interests of the business (including your
employees and clients) are sufficiently protected, and the cost isn’t
detrimental to growth.
6. Skills and Talent Shortages
Competition is a main contributor to this problem as, since inception,

SMEs face pressures from bigger, competing companies within the same
field. Larger companies benefit from the ability to lure valuable, skilled
staff under the promise of career stability and personal growth. Joining
an independent firm is a riskier proposition.
Solution:
Machinery, such as modern IT systems, are arguably the broadest
component for supporting modern startups and small businesses. But no
matter what technology you use to streamline your tasks, staff remains
your true asset.
7. Rising Costs and Reduced Revenues
The post-Brexit fall in the pound hasn’t helped matters, either. In

particular, it directly impacted businesses that buy materials, products or
services from overseas. Coupled with the increase in other business
costs, international SMEs feel the pinch.
Solution:
There are some actions that businesses can take to reduce costs on their
cash flow. As Jonathan Elliot, the MD of Make it Cheaper states: “by
shopping around, comparing prices, regularly switching suppliers and
taking care not to get caught in contract renewal traps, companies can go
a long way to bringing their overheads under control.

Biggest Problems For SMEs 223

Uploaded by

Copyright:

Available Formats

Biggest Problems For SMEs 223

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Biggest Problems For SMEs 223

Uploaded by

Copyright:

Available Formats

Biggest Problems For SMEs & Their

Businesses and small-medium sized enterprises (SMEs) seek stability

1. Poor Use of Technology

Small businesses often suffer from poor, dated or disconnected IT

Inefficiencies in IT tend to arise in expanding businesses, where

Expansion poses a challenge for any business. Particularly when it

With business growth comes added layers of complexity. It’s a challenge

There are compelling reasons

Providing access to information anywhere, anytime across multiple

In recent years there’s been a surge in mobile data usage. As a result,

6. Skills and Talent Shortages

Competition is a main contributor to this problem as, since inception,

7. Rising Costs and Reduced Revenues

The post-Brexit fall in the pound hasn’t helped matters, either. In

You might also like