Small businesses across the country are sharing their top tips for success in a guide launched by Alliance & Leicester Commercial Bank. The business tips can be viewed at www.alliance-leicestercommercialbank.co.uk/cleverbusiness
More than 300 companies were polled on their views on how a business can be ‘clever’. Forty-three per cent identified regular communication between staff and customers as the defining factor. Almost a quarter (24 per cent) believed their success was due to differentiating themselves from their competitors, while a fifth said forward planning was the key.
Seventeen award-winning small businesses were also consulted on what guidance and top tips they would give other SMEs.
“Our guide gives successful businesses in the UK the opportunity to pass on their hard-earned wisdom to other SMEs,” says Steve Jennings, Director of Business Banking at Alliance & Leicester. “It acts as a useful information tool, offering businesses a number of different tactics which they can employ to become even smarter.
“While I believe there is no one magic formula that determines what makes a business successful, it is clear that there are certain attributes which all high performing businesses share. There is no substitute for hard work and commitment, but crucially clever businesses also have a clear and distinctive vision, self belief, a good business sense and a clear understanding of the numbers.
“All these factors will stand any business in good stead. However, you also need to remember to celebrate your successes and have fun.”