While property development can be a very profitable pursuit, many developers find themselves limited by poor cash flow. That’s because the nature of property development dictates that cash flow events occur in large single events, when a property sells, rather than through consistent, smaller returns, as is the case with
We are used to buying software for our businesses and simply uploading it and getting used to using it. Yet there is something you consider when purchasing software that will be used by clients. We’re talking in this article about the whitelabel app and software package, and why you should
First UK building to achieve three stars under this scorecard 106,000 sq. ft workspace in Hammersmith Capacity for 1500 occupants The Metro Building, in London’s Hammersmith, is the first UK building to be awarded a three-star Fitwel certification, under the Built Certified Multi-Tenant Base Building (v2.1) scorecard. Managed by Workman
Premier Modular, one of the UK’s leading offsite construction specialists, has been awarded Europe’s first ESG certification. Following a rigorous independent audit conducted by global testing, inspection and certification specialists SGS, Premier has been assessed and certified for its management and performance in Environmental, Social and Governance. According to David
Managing a business, whatever the scale or size, requires dedication, time, and money. Most of the time, you need to create effective strategies and methods to keep your head above water and stay ahead of the competition. No matter your short or long-term goals, you want your business to be
If you are running a construction business, then you always need to be aware of the storms that could be just over the horizon. There are countless examples of challenges that you could face running your construction company in the future. Here are some key possibilities you should consider. Low
Online business is one of the most lucrative ways through which one can set up their new business since the investment is minimal and one does not require much effort in order to effectively set up their respective online businesses. In order to set up an online business, the most
Moving your belongings to a new residence may be challenging. There are several things you should plan for and think about before hiring a UK man and van to make the transition go smoothly. How to Prepare for Professional Movers Make a Checklist for Taking Inventory of Your Stuff Make
Whether you are just starting a business or have been running a company for several years, questions can often pop up regarding your business and how you should run it. Here is a list of popular questions and their answers to help you and your business press forward. What are
Industry-leading procurement platform Constructionline has partnered with Supply Change to support social value procurement and boost the use of social enterprises in the construction sector. From today, qualifying social enterprises (businesses that reinvest or donate their profits to create positive social change) can get free Constructionline Supplier Membership and SSIP
While property development can be a very profitable pursuit, many developers find themselves limited by poor cash flow. That’s because the nature of property development dictates that cash flow events occur in large single events, when a property sells, rather than through consistent, smaller returns, as is the case with most businesses. In this article, we will introduce what development exit finance is, how it can be used to improve cash flow for developers, the pros and cons of doing so and the alternatives available. What is development exit finance? Development exit finance is a type of bridging loan that is used to repay development finance as a property development project nears completion, usually raising additional capital for the developer. Lenders are usually happy to offer development exit finance once a property is wind and watertight. While this is a general rule, some lenders are happy to offer development exit finance earlier than this, and others will only lend once practical completion sign-off has been achieved. This type of finance is commonly used for two main reasons:- 1. To release equity back to the developer, which can either be used to manage any cost overruns on the project or to fund the acquisition of the next project. 2. To allow the developer to extend the term remaining on the existing development finance facility, ensuring there is sufficient time to secure a premium price for the completed units. 3. As the interest rates charged on development exit finance is lower than those offered by development finance lenders, it is often used to reduce interest charges. How does it work? A development exit loan is arranged over a set term, often between 6-12 months, with the interest rolled into the loan. This means there are no monthly payments to make. As the properties sell, a portion of the loan is repaid from each sale, reducing the loan by either 100% of the net sale price, or the agreed loan to value (LTV) ratio. The level of repayment is usually agreed upon upfront, although it can be renegotiated on occasion should things change. While interest is usually set aside for the whole term, it is usually rebated to the borrower in the event of sales coming in before the term end. What does it cost? Rates start from 0.4% per month and are usually between 0.4-0.75%. The rate charged depends on the security type, location, current build state and the loan to value requested. Applications that are wind and watertight and at a low LTV will usually receive the best interest rates. In addition to the interest charged, lenders usually charge an arrangement fee for arranging development exit finance. This usually costs 1-2% of the loan and must be factored in. How can it be used to improve cash flow for developers? In simple terms, development exit finance allows developers to save money on their finance costs and release cash from a project before it sells. This allows the developer to ‘keep the wheels turning’ rather than having to wait for a large, single cash flow event. While many development finance lenders allow borrowers to finance up to a maximum of 55-65% of the end value of the scheme, development exit lenders offer between 75-80%. This additional money can be the difference between being able to secure the next project, or missing out while waiting for their completed units to sell. What are the pros and cons? While development exit finance can be a great help to property developers, as with everything, there are pros and cons to consider. Pros · Development exit finance is great for cash flow. · It’s cheaper than property development finance, saving you money. · It allows you to take your time when selling your completed stock, potentially leading to you securing a better price. · It can lead to increased profits by allowing you to move on to your next project quicker. Cons · While it’s cheaper than property development finance, there are still costs involved. · There is an application process that, while simple, still takes up some of your time.
We are used to buying software for our businesses and simply uploading it and getting used to using it. Yet there is something you consider when purchasing software that will be used by clients. We’re talking in this article about the whitelabel app and software package, and why you should be considering white label software. What is white label software, and why are you missing a trick if you don’t use it? Let’s begin with a brief explanation of white label software and other white label goods. What is White Label Software? White label software is a software package made by a developer yet not branded with their brand name. Let’s use an example of another type of white label product. Go to your local grocery store – choose a well-known range – and find their ‘own label’ canned foods. These are usually the budget range of essential goods. Now, they are all branded with the store chains name and in their colors. Yet, these goods are not made especially for the store chain. They are simply branded goods – generally a well-known make – but labelled especially for the store. Another example could be you buying in goods branded with your name as give away gifts. Now, with branded software, instead of it saying – let’s choose a famous brand for the example – Apple, it comes to you without branding ready for your brand name to go on there. What are the benefits of white label products and software? We want to talk about software specifically, as while branded store goods are usually for budget reasons, software is for a different reason altogether. How Will White Label Software Benefit my Business? The recent couple of years of turmoil have had some surprising effects on the world of commerce. Many small businesses did not make it through the pandemic, and for many other people the need for change was apparent. Furthermore, a lot of people discovered that working from home is actually productive and convenient. In the wake of this a lot of small businesses have launched online. Let’s imagine that you are a professional therapist. You offer video consultations for your clients. They use a booking system whereby they choose a slot on a calendar that they access with a password. This software is bought off the shelf and comes with the developer’s brand name all over it. So, every time a client books a slot – or uses software for other reasons – the developer’s brand name is there to see. But you don’t want that! Not only do you not want to advertise their brand for free, you want your brand to be consistent throughout all visible applications. This applies to accounting software, your video app, and so. Consistent branding across the board shouts of professionalism and attention to detail, rather than the lazy image of a software company’s brand taking up valuable space. Some of your clients will not notice it but believe us when we say that a good proportion will. Consumers like to see that professional approach as it gives them further reason to trust your brand. Using White Label Software Using white label software means paying for a licence, but the benefit far outweighs what will be a minor outlay. We are not just talking about therapists here but other online professionals, plus hotels and restaurants, even shops and cafes. Anywhere that uses software from another supplier should definitely consider the white label option. Ultimately, your goal is to make your brand one that people see as trustworthy and professional, so check out white label software now and get your brand across the board.
First UK building to achieve three stars under this scorecard 106,000 sq. ft workspace in Hammersmith Capacity for 1500 occupants The Metro Building, in London’s Hammersmith, is the first UK building to be awarded a three-star Fitwel certification, under the Built Certified Multi-Tenant Base Building (v2.1) scorecard. Managed by Workman on behalf of global real assets investor PATRIZIA, Metro now joins properties from around the world accredited by Fitwel, a certification system embraced by developers and workplace strategists as part of the growing trend towards healthier workplaces. As the UK’s leading implementer of Fitwel, Workman has achieved certification for almost 2 million sq. ft of retail, office, and business assets – the most completed Fitwel certifications in the UK and Europe. Metro’s 3-star Fitwel Certification demonstrates the collaboration of a proactive Workman onsite team, led by building manager Nicola Price and property manager Suky Atwal, along with PATRIZIA and sustainability consultancy Evora. This achievement showcases the Workman commitment to optimising buildings for health, using evidence-based strategies. The Fitwel standard provides a blueprint for making positive changes that are scientifically proven to enhance wellbeing and occupier health. Using an evidence-based scorecard system, Fitwel certifies the wellness credentials of buildings and their surroundings. Through the six-month Fitwel process, Metro benchmarked its health and wellbeing performance before developing strategies to improve it. The Metro Building scored particularly highly in areas including: The implementation of an Indoor Air Quality (IAQ) policy. Provision of lactation room, a facility for nursing mothers. Access to a fruit or vegetable garden. Policies encouraging the use of stairwells over lifts. Amenities such as fitness and gym rooms. Nicola Price, Workman’s Building Manager at Metro, said: “Occupiers at the Metro building are engaged in the concept of healthy buildings, and we care about their wellbeing. Our landscaping project includes seasonal planting for occupiers to get involved with growing and harvesting. The introduction of initiatives such as IAQ testing has made a real difference to how our occupiers feel, and in turn this has motivated the onsite team, who have seen the benefits of Fitwel accreditation.” Charlotte Ross, ESG Manager and Fitwel Ambassador at Workman, said: “Across our managed properties and the wider industry, there is an increased focus on occupier health and wellbeing. For us, it was not only important to gain the Fitwel certification for Metro, but also to use the strategies to make sure we are managing the building with health and wellbeing in mind.” Jennie Brown, Associate, Asset Management at PATRIZIA, said: “Fitwel’s world-leading certification is testament to our strategy of improving occupier wellbeing by using best-in-class design to create healthy buildings for a strong community. Our focus on both mental and physical health, for example creating a new outdoor landscaped area, as well as a lactation room, were positively welcomed by our occupiers.”
Premier Modular, one of the UK’s leading offsite construction specialists, has been awarded Europe’s first ESG certification. Following a rigorous independent audit conducted by global testing, inspection and certification specialists SGS, Premier has been assessed and certified for its management and performance in Environmental, Social and Governance. According to David Harris, Managing Director of Premier Modular, “Our aim is to radically improve the sustainability of the built environment with our approach to construction, and to generate social value across all our building projects and operations. We are therefore delighted to be the very first company in Europe to receive the new certification developed by SGS. This is the next step in our ESG journey, and it demonstrates our serious commitment to corporate social responsibility and sustainability.” “This independent endorsement gives all our stakeholders – staff, customers, supply chain, and investors – complete assurance that we are evaluating our ESG performance in line with the latest best practice, and that our ESG data and analysis are both accurate and transparent.” “This has been an important initiative in helping us to advance our commitment to reducing carbon emissions within Premier and in the long-term operation of our modular buildings for both rental and permanent space. And by prioritising social value in everything we do, we have the potential to unlock a range of social, economic, and environmental benefits for the communities we work in.” Jonathan Hall, Global Head for Certification Services at SGS said, “The ESG standard developed by SGS focuses on the most important environmental, social and governance risks to a company. This enables Premier to better assess, monitor and evaluate ESG at different stages, allowing it to further reduce energy consumption across its operations, optimise material efficiencies in manufacturing, manage risk more effectively, demonstrate strong leadership in ESG, and enhance employee engagement.” “The Premier team has worked really hard to attain this European first and we would like to congratulate them on this significant achievement.” A key aspect of Premier’s ESG commitment is reducing carbon footprint and a number of new initiatives are underway. An R&D project is in progress looking at alternative materials for modular building manufacture, which have lower embodied carbon, and Premier will be launching a new range of sustainability and fabric first options for its building rental fleet this year. Premier has a zero waste to landfill policy in the manufacture of its buildings. Its modular buildings are fully re-useable, reconfigurable, relocatable, and the steel-framed structures are infinitely recyclable, meeting decarbonisation goals. Low and zero carbon technologies can also be specified to incorporate renewable energy into its buildings for both rental and permanent space. For further information, visit www.premiermodular.co.uk, call 0800 316 0888 or email info@premiermodular.co.uk.
Managing a business, whatever the scale or size, requires dedication, time, and money. Most of the time, you need to create effective strategies and methods to keep your head above water and stay ahead of the competition. No matter your short or long-term goals, you want your business to be successful at all costs. As most entrepreneurs are aware, a business may face a lot of risks. In some cases, risks are hard to avoid; some are unprecedented or simply unanticipated. To prevent your business from getting hurt, it’s a sound investment to have commercial insurance coverage. This gives you peace of mind that doesn’t equate to any monetary value. If you’re still on the fence about whether to opt for commercial insurance or not, check out more reasons below why they’re needed for your operations: Legally Required Depending On Your State Most states require businesses of all sizes to have insurance coverage. If you don’t carry the necessary coverage, you may be subject to fines and penalties. And besides, it could cost your business a lot more than the sum total of your insurance premiums if something unexpected happens, like an accident or a catastrophe. On the other hand, even if you live in a state that doesn’t require it, it’s still best to get commercial insurance to avoid unnecessary expenses later on. This coverage can help you if a customer decides to sue you due to dissatisfaction or unsettled conflict. Some insurance policies also cover fire incidents to help cover the cost of damage to property. The insurance industry evolves with time, so you can access the best coverage for your needs. Helps Your Business Run Smoothly An accident or disaster can happen anytime. If and when it does happen, your business may lose a hefty sum of money if it doesn’t have insurance coverage. Business owners can use insurance to protect themselves against loss of income when faced with a major disaster. Your business won’t be bankrupt since you’ll continue to have funds to restart operations. As a result, it’ll help you run your business smoothly even after a fire or disaster. Depending on your policy, your insurance may cover your operational costs like rent and utilities. You’re definitely getting more of your money’s worth considering the monthly insurance premium you’re paying. Protects Your Employees One of the most critical priorities for small business owners is employee satisfaction. Having liability insurance for your employees is a wise decision. Additionally, they’ll feel more secure and protected in case something unexpected happens, like a job-related injury or illness. Also, this helps to attract high-quality candidates and prospects. Employees who are well-experienced in your industry will prefer to work with you because you cover insurance for all employees. If you add health or dental insurance, they’ll feel more attracted to work for you. As a result, your team will grow, and your employees may be motivated to work harder. Protects Your Sensitive Data New technology is constantly emerging, and state-of-the-art tools will make your business run more efficiently and quickly. Unfortunately, these technological innovations give rise to threats of cyberattacks and exploitation of these changes. Therefore, any business that relies on tech tools and software should get commercial insurance coverage. Keep your insurance policy up to date with privacy breach coverage. If personal information is lost, stolen, or accidentally shared, you’re protected against liabilities. Protects Your Business From Disaster Or Theft A business without insurance may not be able to afford repairs or replacements in the aftermath of a natural disaster. But with adequate insurance coverage, your business will be able to recover faster from losses due to a catastrophe or theft. Therefore, small companies without the capital to completely replace damaged or destroyed assets should consider getting insurance. Improves Your Brand Credibility Many businesses go for commercial insurance to improve their brand credibility, and it’s enough reason. After all, so many new companies are sprouting here and there, finding it easy to stay ahead of you. Therefore, you must act smart in establishing your company’s credibility. Fortunately, commercial insurance can do that. You can show prospective customers and clients that you’re a trustworthy business by having insurance. The work you do for them comes with a compensation plan if something goes wrong. Many customers would want to go for a licensed and insured business, and if that’s what you offer, you’ll be assured that you can continue your business for a long time. Helps With Lawsuits In the event of a lawsuit, you could quickly lose your business if you don’t have liability insurance. In addition, even if you win the case, you’ll still have to pay costly legal fees. Commercial insurance can help you in such a messy situation. Whether you’re being sued by an ex-employee or by a client, lawsuits can be expensive, and it’ll all come directly from your company’s account. Your business might not have enough funds to deal with a lawsuit, so it’s better to think ahead and plan for this possibility. Effective Backup Plan A successful business should always be prepared with a contingency plan. Having insurance is your plan B when you can’t operate and generate revenues due to accidents or disasters. You can also choose optional coverage to guarantee that payroll will be met during a specific period. Insurance can help cover lost income and day-to-day operating expenses. Your insurance provider can compensate for the interruptions. Since disasters happen more and more, it’s best to include insurance in your business continuity plan. Nobody knows what the future brings, so it always pays to be ready for anything. So, be prepared for disasters, accidents, or even theft by getting commercial insurance. Conclusion Business insurance allows small business owners to focus on what they do best without worrying about issues that may arise. Nothing beats the feeling of security and having peace of mind when things go wrong. Commercial insurance coverage will allow you to get back on your feet after your
If you are running a construction business, then you always need to be aware of the storms that could be just over the horizon. There are countless examples of challenges that you could face running your construction company in the future. Here are some key possibilities you should consider. Low Levels Of Productivity It is possible that one of the problems you could face with your construction business in the future is a low level of productivity. There are countless reasons why productivity levels might be low. For instance, you may find that it’s due to issues with your team. If so, it could be worth thinking about refreshing your team and recruiting a new group of workers. Alternatively, it could be because you have fallen behind in terms of the technology you should be using. A lot of construction businesses now have a cloud server integrated into their company model. Equipment Shortage Another factor that you should consider is whether you might struggle to source certain equipment you need for projects. Particularly, if you are working to a tight deadline. Some equipment like block paving extractor tools are easy to find from the best suppliers. However, there are others which are going to be more difficult to get because they use complex technology. Certain microchips are currently not being made at the level to match the demand due to the backlog from COVID-19. As such, it’s likely that you may struggle to get at least some forms of equipment. You may need to improvise here. Skill Shortage Due to an aging workforce as well as other mitigating factors, it’s likely that the construction industry will face a skill shortage over the next few years. One of the ways that you can deal with this is by ensuring that your business is accessible and exciting for young team members. You need to ensure that there are structures in place which will allow them to grow and thrive in their roles. It’s also important to make sure that you are investing in training for your team. Particularly as technology becomes more integrated into the construction process. Heavy Costs Finally, due to problems including inflation and the rising price of fuel, construction businesses could face significant costs in the future that they will need to handle. It will be more important than ever before to ensure that companies do get costs under control and manage them more effectively. One of the ways that they can do this is by hiring an accounting solution. The right service will mean that construction companies can keep track of their costs in real time. This will mean that they can avoid a disaster with mounting expenses that aren’t even noticed. We hope this helps you understand some of the common challenges that you may struggle with when running your construction company over the next few years. By taking the right steps here, you can guarantee that your business is on the right track and does not fall behind the competition.
Online business is one of the most lucrative ways through which one can set up their new business since the investment is minimal and one does not require much effort in order to effectively set up their respective online businesses. In order to set up an online business, the most important element to take care of is to create an eCommerce Website. Using an eCommerce website one can not only start a new business but also expand their already existing offline business to newer and wider avenues. However, one needs to understand the fact that having an eCommerce Website is not a simple task since it requires intricate planning, and a lot of aspects are involved while setting up the eCommerce store. You can set up the website by allotting a task to website developers or other web developing experts. If you wanna have a personlised experience and develop the website on your own, you can definitely follow our guide to create an efficient eCommerce Website. You need to decide on how you would maximise the traffic and footfall on your site, how to integrate the payment system on your website and so much more. You also need to decide on the platform which is required to create your site. Due to the sheer number of platforms available on the internet, it can be quite overwhelming for a user to use one particular platform. There are a lot of good platforms out there such as Shopify, Wix, and Squarespace which can be easily used by the user to develop their respective websites. Now that we have cleared the air about the eCommerce websites, let us now take a look at the steps on setting up an eCommerce website. Buying a Domain Name Domain Name is just like the name of an individual. There is no identity of a website without the domain name. A domain name is basically the online address of your eCommerce Website. Website domain name examples include google.com, facebook.com and so much more. If you already have a website then you already have a domain name set. However, if you are an entrepreneur who wishes to expand their business or set up a new business on the online frontier then he/she would be required to buy a domain name. The domain name of the respective website would need to be synonyms with your business concept. If you are in the construction business then you need a domain name that reflects your business. Irrelevant domain names must be ignored since they would reduce the traffic on your site. Choosing a Website builder A website builder is imperative to having a good eCommerce website setup since they are the building blocks of the website. Shopify, Wix, Squarespace are some of the primary examples of good website builders. These traditional website builders such as Shopify, Wix, and Squarespace have a lot of elements of website building directly integrated within them and hence they would make the entire website building process much more refined and easier. However, a lot of the entrepreneurs who want an eCommerce Website do not use these traditional website builders since they require custom-made templates which would suit their business better. Deciding on an eCommerce Platform Integration If you have decided to not build your website using a traditional website builder then this is a particularly important step for you. This step primarily revolves around the type of eCommerce platform you would want to integrate with your site. You can either have a custom made solution built for you using the assistance of a web developing agency or even integrate already existing options such as Shopify for your business. Most of the time the best option for your eCommerce website is to integrate the website with a pre-existing platform such as Shopify to make things simplified and to get the best out of your site. Selecting a Payment Gateway Provider for Online Payments Irrespective of whether you choose to have your eCommerce website setup using a website builder or build it in a custom way, an entrepreneur will for sure need to use a gateway for online payments providers. These online gateways would assist your website in accepting online payments. One important thing to keep in mind is that these online payment gateways would most probably charge a certain amount of transaction fees for each online payment made for your site. Website Hosting Provider Each and every website requires the services of a hosting provider. As a particular eCommerce site is being built, one needs to think about their respective hosting needs. One needs to understand that the hosting needs would entirely depend upon the traffic requirements of the said eCommerce site. You can also go with free web hosting but free web hosting can’t handle much traffic and has its own drawbacks. If you are expecting your site to have higher traffic then it would require higher costs and a stable hosting provider in order to ensure that your site remains stable. Finishing Up Your eCommerce Site Once you have set up all the proper prerequisites on setting up an eCommerce website for your business then you need to just add some of the finishing touches to ensure that the final product is top-notch. You need to finish up with the UX designing aspect of your website before you eventually decide on launching it. It is recommended that you check the draft of the website multiple times before you deploy it as it may have a lot of errors and may even have bugs. You may even take feedback from other people in order to get a better opinion on your eCommerce website. Deploying and Launching the eCommerce Site Once you are done with all the research, bug checking, testing, and other prerequisites required for a successful website, you can successfully launch it. This is the step wherein you are required to take the final step and deploy your website for eCommerce purposes. If you
Moving your belongings to a new residence may be challenging. There are several things you should plan for and think about before hiring a UK man and van to make the transition go smoothly. How to Prepare for Professional Movers Make a Checklist for Taking Inventory of Your Stuff Make a complete list of all your household goods before the professional local movers arrive. This inventory list will give you a feel for everything you own. You may go through the items being packed and loaded in the truck without missing a beat once the movers arrive. You can even determine which goods are misplaced or damaged throughout the shipment process when you have an inventory. Label the Boxes Labelling your boxes is one of the most frequently recommended packing and moving strategies. This is critical, especially when you have delicate items that need to be protected. Labelling boxes before loading them up in the vehicle will guarantee that your movers and packers handle them carefully. Furthermore, labelled boxes can assist you in unpacking since they make it easier to locate what you are looking for. What Professional Movers and Packers Will Not Move Moving your things from one home to the next won’t be as simple as it appears. There are particular things that a removal company is not permitted to carry. Though there is plenty of personal property that you can transfer, it’s crucial to understand exactly what you’ll be taken when preparing for your move. You should observe the following rules: If you don’t want to waste time, you must know everything your movers and packers will refuse to handle. The following are some of the items that they won’t carry: – Cleaning Supplies – Propane Tanks – Motor Oils – Perishable Food – Pets – Plants – Valued items Make sure you have loaded your truck with one-time use items before moving day or get rid of them, and pack and transport them separately to avoid delays. Buy Packing Supplies Once you hire a full-service moving company, your belongings will be packed and loaded by them. However, if you want to pack your own stuff, you must first acquire the packing materials and get everything ready ahead of time. Packing materials such as moving boxes, bubble wrap sheets, and packing papers are available from several moving companies. You can get these items at your local retail stores if you want to calculate your moving expenses. Get Rid Of Everything You Don’t Need Moving to a new home does not necessitate the transportation of all of one’s possessions. The heavier your load, the more expensive your shipment will be. Getting an extra moving truck might push you over budget. As a result, we propose that you go through your belongings and get rid of anything that you won’t need. You might be able to transport the same amount of stuff with fewer boxes if you use packing supplies like these. Plan For Your Children And Pets Children and pets may be difficult to manage during a relocation. They’re all over the place, making it tough for the movers to do their tasks. As a result, you should ensure that your children and pets are out of the way on moving day. Their presence may cause accidents and harm. So, while you direct your professional packers and movers, ask a member of your family to look after them.
Whether you are just starting a business or have been running a company for several years, questions can often pop up regarding your business and how you should run it. Here is a list of popular questions and their answers to help you and your business press forward. What are the Best Departments to Outsource? Every business comes with its limitations when it comes to resources. It doesn’t matter if your company is large or small. You can probably benefit from the ease and effectiveness that outsourcing can bring. So, what are the best departments for your business to outsource? Credit Needs If your business needs to pull hundreds of credit reports each day, you may need to consider outsourcing credit check api technology. Hiring professionals to take care of your credit needs will free up your team’s resources and allow them to focus more on the details of the business. Not to mention they will have the infrastructure to perform these credit checks in the best way, giving you quality and efficiency. Customer Service Customer service is perhaps one of the most important elements of any business. People want to support companies that take care of them, and they actively don’t want to support companies that don’t. So, leave this one up to the professionals. Hire services that provide trained personnel to answer your phones, emails, and set up automatic responses for you. Good Use of Modern Technology The main benefit to outsourcing, in general, is that you gain access to the best technology for whatever department you are outsourcing. Your company may not have the finances, resources, or desire to build or buy the technology that is necessary to do something correctly. When this is the case, simply outsource that department so you can spend your time and money on more important matters. Is My Business on the Right Track? Everyone wants to make sure that their business is on the right track, but this can often be a difficult question to answer. It ultimately depends on what you want your business to do. Aside from being successful, what do you hope your business will give to this world or your community? Here are a few things that can help you establish an answer to this question. Vision It all starts with a vision. A vision is something that business owners often develop in the beginning stages of their business planning. Essentially, it is your dream for what you want your business to be or do. Once you have a clear vision, you can move on to building a strategy. Strategy Do you have a solid strategy that focuses on your vision? In this phase, you should consult with seasoned business owners and consultants to develop a strategy that lays out a clear path for your business that consists of short-term and long-term goals. Long and Short Term Goals Your long-term goals should be lofty and relatively difficult to attain, keeping you and your staff inspired to press on. The key to accomplishing your long-term goals is setting well-crafted short-term goals that pave the way for you. Accomplishing these short-term goals is a great way to tell that your business is on the right track. Is My Business With the Times? This world is ever-changing. Especially when it comes to business, the needs for certain products and services are always changing. This is why it is so important to stay on top of the times. For example, cryptocurrency quickly grabbed everyone’s attention. If you are a company that is already able to process crypto payments, then you are with the times. Being among the first to hop on board when things change is a great way to ensure that you are with the times. Did I Hire the Right People? Hiring the right people is critical to owning a successful business, and you are right to be asking the question. A great way to tell if you hired the right people is by assessing their passion and initiative. If you have people who are just as passionate as you, then you are on the right track. How to I Set My Startup Up for Success? Startups can be difficult to manage. For most people, there is a large learning curve and a lot of legal hoops to jump through. Using a professional startup legal service is a great way to get people on board who can ensure that your startup is set up for success. Are My Finances Organized Correctly? This is a great question for anyone in the startup phase of their business. If you don’t have the resources to hire a team of professionals, how could you ensure that your finances are well taken care of? The simple answer is QuickBooks. This is a tool to help you auto-track your expenses and income, accept certain forms of payment, and have the security of knowing your business’ finances are organized well. How Should I Market My Business? Marketing is so important. Ultimately the best thing you can do is hire a marketing professional and team to completely run that side of your business. But what if you don’t have the resources for that quite yet? If this sounds like you, then social media is a great tool to focus on. Social Media Being present on all platforms of social media is a great way to ensure that your business is getting in front of people. Be sure that you create an overall theme and stick to it. Having a consistent theme and a consistent posting schedule will help establish your company as professional and organized in the eyes of the public. The Takeaway As a business owner, you are always going to have questions regarding ways to improve your business, or at the very least make sure that it is on the right track. This is a natural part of running a company. The questions above are big ones that people often have. Even if you
Industry-leading procurement platform Constructionline has partnered with Supply Change to support social value procurement and boost the use of social enterprises in the construction sector. From today, qualifying social enterprises (businesses that reinvest or donate their profits to create positive social change) can get free Constructionline Supplier Membership and SSIP accreditation from Acclaim Accreditation. By boosting social enterprises’ use in procurement, the partnership between Constructionline and Supply Change will help further increase social value in the supply chain. Social enterprises have a positive impact on society through many ways, such as employing those that face barriers to work, championing more environmentally friendly practices or donating profits to charity. Constructionline buyers and suppliers will benefit from being able to achieve this positive impact through a simpler route to social value procurement. The partnership follows the recent launch of Constructionline’s social value question set and is part of the platform’s wider drive to firmly put social value on the agenda for all procurement across the construction sector. Supply Change, which works to make procurement easier, faster and more impactful for businesses, will help to verify businesses’ eligibility to receive this support from Constructionline. By registering for free on the Constructionline platform, social enterprises can then prove to buyers that they meet stringent industry standards, including PAS91 and the Common Assessment Standard, allowing them to be easily identified for new business opportunities. Robert Walton, Chief Operating Officer at Constructionline, commented: “With the construction sector accounting for around 6% of GDP in the UK, there’s huge scope for the industry to make real change to local communities through social value. Working with social enterprises where possible is a key way to achieve this, and I’m proud that through our partnership with Supply Change, we can help to make a difference. We’re committed to supporting social value and, through this partnership and our dedicated question set, I’m really looking forward to seeing the growth of social value procurement on our platform this year.” Proving social value is key across both the public and private sectors. In the public sector, the government introduced the Social Value Model in January 2021, and social value now accounts for at least 10% of a supplier’s score when it comes to central government bid evaluations under PPN 06/20. In the private sector, social value is gaining prominence as organisations strive to support the communities in which they work, and this is only set to grow. Aoise Keogan-Nooshabadi, co-founder of Supply Change, added: “Social value in procurement has never been more important. Studies show that engaging with social businesses makes commercial sense and the introduction of the Social Value Model makes it even more valuable. The increased need to give back to our communities and our climate has put social procurement high on the agenda. Despite this, quality is still paramount. Our partnership with Constructionline, to give accreditation to social enterprise suppliers, will break down barriers for suppliers who create a huge amount of impact but also deliver high-quality work.” As one of the social enterprises set to benefit from the Constructionline and Supply Change partnership, Amie Grice, business development at Argonaut Enterprises, explained: “The Constructionline accreditations are very important to any company but, for a small social enterprise, gaining and keeping this accreditation is vital to maintain and/or expand. The partnership between Constructionline and Supply Change enabling the free membership has taken some pressure off us, and the funds can be used to help support staff and keep making a difference. As an SME and social enterprise, these partnerships make a huge difference.” Constructionline and Supply Change are hosting a webinar to launch the partnership on Tuesday 1st February at 3pm. To find out more and have your questions answered by the procurement experts, register for your place at www.constructionline.co.uk/events/social-enterprise/ To find out more and to register for free Constructionline Supplier membership and SSIP accreditation from Acclaim Accreditation, visit www.constructionline.co.uk/products-services/social-enterprise/ For more information on Supply Change visit www.supplychange.co.uk
