
Encourage development at work
Over a quarter of small business leaders we surveyed told us they planned either to decrease their investment in training, or that they were unsure whether spending on it would be sustained.Collaborate with other businesses of a similar size
Our research shows that just one in eight SMEs are planning to increase collaboration in the coming year. This is a mistake: the uncertainty triggered by Brexit has made it more important than ever that small businesses work together and support each other – either as partners, suppliers, outsourced expertise or combining to share costs. Not every company has the capacity or expertise to do everything in house, much as they’d like to. You wouldn’t ask a member of your team who specialises in finance to also be responsible for your company’s IT network, but there may not be budget to have IT support as a permanent fixture in your company. The same is true for other reputation-enhancing functions like marketing, which can help boost your business’ visibility in times of Brexit uncertainty and Article 50 fears. Review your operation and pinpoint there there may be the opportunity to work with other similar-sized businesses who are experts in their field. Buddying up in 2017 will help protect and grow businesses through mutual support and has the potential to reduce costs and overheads. The practical benefits of this are tangible; our research indicates that the businesses that value collaboration report greater confidence in the future and report being in better financial shape.Stay transparent and celebrate successes
We’ve already seen that a lack of clarity around Brexit has caused businesses – and indeed individuals across the nation – great concern, and confusion within a business will have a significant negative impact on morale.Help workers feel valued and appreciated
At a time when employees may already be concerned about the future, feeling undervalued or unappreciated can have a huge impact on their performance. Aside from involving employees in everyday decision making processes where possible, simple steps such as arranging social events and introducing day-to-day perks such as a weekly lunch can boost morale. Employees who feel that they are more than simply a cog in a machine are likely to perform better and invest more in their work. Whatever the outcome of the UK’s Brexit negotiations, I’m confident that the UK’s businesses will adapt to succeed regardless. And, in fact, despite their fears about leaving the EU, 82 per cent of the SME leaders in our survey said their business was in the same or better shape as 12 months ago, and 75 per cent told us they are more or equally as confident about their future as they were a year before. Onwards and upwards. Patrick Gallagher is chief executive at CitySprint Image: ShutterstockShare this story