Supporting Small and Medium-sized business owners in navigating the uncertainty
It’s you, our small and medium sized business owners, who are the backbone of the UK economy, and our communities. I think we can all agree that you’ve been placed under enormous strain and pressure in recent years.
We have written this report with you in mind, to help you think about what you can do to future-proof your business and identify opportunities to grow your bottom line.
Recently, you have faced the ongoing disruptions of the pandemic and Brexit; and now we are facing a cost-of-living crisis; the impact of this, including what it will do to consumer demand, is undoubtedly top of mind for many of you.
Whether you are a SME who is just starting out, or have been established for many years, the landscape is always evolving, and new challenges arise. It’s fair to say it can be overwhelming and difficult to know where to turn, what to do next and who or what can help.
At Dun & Bradstreet we are here to help businesses like yours become strong and resilient; helping you to make informed, smart decisions backed up by data. What does that actually mean in reality for you?
It means knowing who your customers are and having confidence they are going to be able to pay you on time.
It means making sure that you aren’t having to spend your valuable time chasing up late payments, or dipping into savings to keep things afloat.
It means knowing that your suppliers (and their suppliers) can meet your needs, so you can meet customer demand.
It means knowing you have a safety net of other suppliers you can call upon if your immediate supply chain is disrupted.
It means identifying potential customers you may not have tapped into yet, and building your sales pipeline.
These are just a few of the ways data can support you and your business, but sometimes even the best of us could do with some guidance on where to start and what to prioritise. That’s where we hope this report can help you. We want to help you understand the different types of data which are available to help you build resiliency in times of uncertainty, and grow your business.
With the help of our survey partner Censuswide, The Survey Consultants, we have conducted a survey of 751 SME owners across the United Kingdom and analysed the results to gain insight into how SMEs are feeling, what is keeping you up and night and where you see opportunities for the future.
We hope you find this report insightful, and that it triggers some ideas around how you could be using data to strengthen and grow your business.
Please feel free to reach out to me or one of the Dun & Bradstreet team at hello@dnb.com if you have any questions or would like to talk about how we can support you and your business.
David Marshall
Senior Director, Finance Solutions
Methodology
Censuswide, The Survey Consultants, conducted an online survey in April 2022 of 751 managers and senior managers from companies with two to 250 employees in in manufacturing, retail, professional services, construction, financial services and sales, media and marketing – 125 employees in each sector – in the UK.