The so-called Micawber principle, as stated by Wilkins Micawber in Charles Dickens’ novel David Copperfield, says: “Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.”
Recent surveys of UK business owners show us to be under pressure. This is no surprise. As a business owner, you’re constantly juggling multiple responsibilities and facing a myriad of challenges. While there are countless strategies for success, it’s equally important to be aware of potential pitfalls that could derail your efforts.
When in business, it’s not uncommon to be approached by another business with a view to you buying the business or entering a partnership deal. It might be a competitor that approaches you, or it could be a customer or supplier.Alternatively, you might identify a business that you would like to acquire as part of your own growth plans.What things should you consider before entering a deal to buy another business? In this article we will look at some of the key considerations.
The cost-of-living crisis, characterised by rising inflation, is impacting businesses as much as it is affecting consumers. Understanding how consumer behaviour is changing is crucial for businesses to adapt and stay competitive.
The job market has been particularly hot since the Covid pandemic. There is a well-publicised shortage of skilled workers, and as a result, there’s a high probability that other firms are trying to poach your staff. So how do you hang on to good people in a competitive jobs market?