Britain has emerged from the depths of recession, and as such businesses are starting to get back on track. But who would you think are the ones doing well? The large companies which had the capital behind them to keep afloat? Or the smaller businesses which may have struggled to get by? You might be surprised to hear that it’s actually the SMEs that are doing particularly well. The Federation of Small Businesses (FSB) recently reported the ‘robust’ nature of our countries SMEs, and in fact there’s been a strong improvement in small business confidence; we’re now set for the most positive year for SMEs since 2010.
Consumer confidence in small businesses is high. American Express’ Global Customer Service Barometer found that 81 per cent of people find smaller firms understand the needs of their customers better, an essential step in leading a business to success. But customer service isn’t just the absence of awful hold music and automated voices, it reflects the company’s ability to keep costs reasonable and services efficient; a mantra that businesses of all sizes and in all sectors should live by if they want to flourish.
The FSB reported that two in three SMEs are aspiring to grow rapidly in the next three months so we are set to see a great improvement in our economy. However as a business expands it’s imperative to keep quality customer service at the forefront of their minds at all times. There is no point in investing and growing if you lose your customer base along the way.
So how can SMEs maintain the level of customer care that their clients have come to expect as their businesses change and grow? And how can they make sure margins don’t dip at the same time? A business has to stay afloat after all. One solution is to invest in the supply chain. Businesses need to be able to get the parts and equipment they need to complete work transported across the country efficiently. Not only will this improve the speed in which they can be delivered but also the quality in customer service they can give, providing a real benefit to both business and customer.
We work with small businesses on a daily basis to do just this, having parts and tools sent out through a locker network so that they can focus on the important things; keeping costs low and building customer relationships. A successful supply chain allows businesses to track, trace and route parts through it with complete visibility, delivering parts early (pre-8 am) so that they can be used promptly, saving valuable time for other work.
Every employee’s time is valuable, especially in a small business with less resources; whether that’s the CEO who is reaching out to new contacts or the engineer completing a job in the field. Outsourcing the supply chain is a vital step in becoming more efficient and putting these systems in place at the early stages of a company creates a solid foundation for growth. With the supply chain running smoothly in the background businesses can put their brain power to better use, focusing on being innovative, developing customer relationships and growing ever onwards. Just because you’re a small business, doesn’t mean you can’t think big.
Mark Garritt, MD, ByBox
