Small and medium sized businesses face a number of risks as they strive to compete in an increasingly global economy…
While some risks are specific to the UK market, others are more general and can impact businesses of all sizes.
The risks identified in a report I saw from Marsh, covering the next 12 months won’t come as too much of a surprise to you, but they do underline the spectrum of significant challenges facing SMEs right now…
📌 ENERGY COSTS
Still an issue, despite some degree of state intervention
📌 EMPLOYEE MENTAL HEALTH & WELFARE
Around half of businesses cite mental health as a key issue for their workforce
📌 INFLATION
Not just supply chain issues fuelling UK inflation
📌 STAFF SHORTAGES
Some workers are seeking second jobs, but vacancies remain high
📌 FINANCIAL UNCERTAINTY
Recession, Ukraine and other factors make decision-making more complex
📌 HEALTH & SAFETY
A significant issue with a third of businesses