Telling the truth about SME life today

Lord Sugar’s new year message to SMEs

In his new year message to SMEs, posted today on Facebook, Lord Sugar slams the government, the banks and, well, pretty much every business event.

You’ve gotta love the man.

Here are our favourite quotes from his first post of 2011:

On the government: “David Cameron who, in covering his backside, stated that he sees 2011 as very challenging, still singing the same song, ‘We are cleaning up the mess we inherited’.”

On networking events: “They have become an escape for people to justify sitting around wasting a day bullshitting with each other while they should be working.” [This one wins our best-quote-of-the-day prize]

On banks: “Banks are a business just like you. They are not a charity and they do not have to lend money to any Tom, Dick and Harry.”

On planning: “You don’t need spreadsheets and complex business plans; you need a pencil and a plain sheet of paper.”

On running his first business: “As mundane as it might sound, I did a health check every week when I started. I was conscious of my expenses, including my pay, as well as the cost price of the goods I was selling.”

On funding: “In my early days, I used my suppliers to finance my stock. The bank would not touch me with a barge pole. First of all, you need to build up trust with your suppliers. Treat them as if you have a tax bill or electricity bill. They must be paid on time.”

On responsibility: “It is you and only you – no one else. You know what to do, otherwise you should not be in business.”



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