Business
Britain’s Small Businesses See Better Times Ahead But Is Their Optimism Justified? – Forbes
Colin O’Flaherty, Head of Small Business at Barclaycard Payments says SMEs are adapting
So here’s the good news. As the U.K. government prepares to lift almost all Covid-related restrictions, Britain’s small and medium-sized companies seem to be well-placed to raise revenues and profits in 2022.
That’s the headline finding from the latest update of Barclaycard’s SME Barometer. According to the report, revenues are up and many companies are planning to raise staffing numbers in response to increasing demand.
But we’re living in strange and unprecedented times. It’s certainly true that Britain’s economy has bounced back most of the way from the downturn triggered by the pandemic and that is certainly reflected in the Barclaycard figures for SMEs. On the other hand, consumer inflation is running high, hitting 4.9 percent year-on-year in January, with an expectation that it will peak above 7.0 percent in the not too distant future. And as power and gas prices rise again in response to sanctions against Russia, energy-hungry companies face a sharp rise in costs.
A Bullish Mood
So how positive are the Barclaycard figures? Well, it can’t be denied that small businesses are in bullish mood. More than half of the SMEs taking part in the survey reported a rise in earnings in the last quarter of 2021 when compared with the same period a year earlier.
A separate report published by accountancy software company Xero paints a similar picture. The January update to its Small Business Index finds that sales rose 3.7 percent year-on-year in January when averaged out to take account of the impact of Covid.
Arguably none of this is surprising. The final three months of 2020 were marked by a sequence of ever more stringent Covid restrictions, culminating in a lockdown over the Christmas period. And while a huge amount of uncertainly hung over the last quarter of 2021, businesses had to some degree learned to adapt. Added to that, the economy as a whole was recovering in fits and starts.
Future Prospects
And Britain’s SMEs seem to be optimistic about the year ahead. According to the survey, businesses are expecting revenues to rise by an average of 13.5 percent in the first quarter of the year. Buoyed by an increase in demand, two-fifths of the companies surveyed expect to make an average of six new hires in the coming months.
But there are warning signs that the months ahead could be difficult. Certainly, SMEs are extremely concerned about inflation. Businesses are seeing their own costs rising at a time when customers – also squeezed by rising prices – have less to spend.
Offline to Online
Two-thirds of SMEs said they were concerned about rising prices in general and energy bills in particular, with four in ten seeing it as a threat to their competitiveness. And inflation could force a radical change in business practices. According to the report, nearly 10 per cent of businesses are reconsidering the need for physical outlets. It seems the economic fallout pandemic is continuing to accelerate the move from offline to online.
Staff shortages also threaten the SME recovery. UK employment rates are high and the economy as a whole has around one million unfilled vacancies. Companies planning to take on new staff may have to work hard to attract the right people and pay more when they do. This is reflected in the Xero research. It reports wage rises of 4.4 percent in January, although this falls to 2.7% when averaged out over the two years of the Covid crisis.
Some businesses appear to be feeling the strain. Xero reports that the average payment time to customers was pushed back by 1.9 days in January and many payments were made beyond the agreed terms. Average lateness was 8.9% days. Typically businesses begin to pay later when their own cashflow is stressed.
The Wider Picture
And if you step back from Barclaycard’s report, there are plenty of other issues to worry small companies. For those who either import or export to or from the E.U., it has to be a concern that trade between Britain and continental Europe dipped in the wake of new rules coming into force in the wake of Brexit. There has been some recovery, but according to the House of Commons Public Accounts Committee, SMEs have been particularly badly hit by increased costs and paperwork.
Barclaycard says that SMEs are responding to the economic challenges. As Colin O’Flaherty, Head of Small Business at Barclaycard Payments, observed: “SMEs are also remaining resilient by continuing to focus on areas within their control, such as by improving their operating models to overcome the hangover to supply chain disruption which peaked at the end of last year.”
So it’s a mixed picture for Britain’s SMEs. Those that have survived two years of Covid restrictions are hopeful of better times ahead, but no one can ignore the increasingly challenging economic trends. The sector is not out of the woods just yet.
Business
Nine Restaurant Franchise Goes Global with $120 Million Crypto Crowdfunding Joint Venture, Led by Adnan Ashraf
Adnan Ashraf, a multifaceted entrepreneur with interests spanning pharmaceuticals, technology, and real estate, is embarking on an exciting new venture to expand the renowned Nine restaurant brand into a global franchise. With its reputation for upscale Japanese cuisine and stunning panoramic views, Nine has captured the attention of discerning diners worldwide, and Mr. Ashraf aims to bring this exceptional dining experience to numerous locations across the globe.
To realize his ambitious expansion plans, Mr. Ashraf has engaged in discussions with a pioneering crypto crowdfunding platform, forging a strategic partnership for a joint venture involving 100 stores with an estimated investment of $120 million. Harnessing the power of cryptocurrency, Mr. Ashraf intends to expedite the growth of the Nine franchise and achieve his objectives more efficiently.
The first milestone in this expansion journey involves acquiring a prime waterfront location in Canary Wharf, a prestigious business district in London. Serving as the flagship Nine restaurant, this iconic setting will exemplify the brand’s exquisite cuisine and offer guests unparalleled views. Mr. Ashraf’s vision extends beyond this initial location, as he plans to continue expanding into other prime spots in London and beyond, introducing the Nine dining experience to cosmopolitan cities worldwide.
By partnering with a cryptocurrency crowdfunding platform, Mr. Ashraf aims to tap into the immense potential of this innovative funding mechanism. Cryptocurrency not only streamlines the investment process but also attracts a global community of investors passionate about supporting groundbreaking ventures in the hospitality industry. This collaboration is expected to fuel the rapid expansion of the Nine franchise, ensuring that more diners can savor its exceptional culinary offerings and immerse themselves in the extraordinary ambiance that defines the brand.
Drawing on his extensive entrepreneurial experience, Adnan Ashraf brings a wealth of expertise to this venture. His track record of success across various sectors attests to his ability to navigate complex business landscapes and identify unique opportunities for growth. With his diverse business interests and unwavering commitment to excellence, Mr. Ashraf is poised to spearhead the global expansion of the Nine restaurant brand, establishing a network of exceptional dining establishments worldwide.
Business
Alliance Rental: Alexey Ivanov Latest Venture in Luxury Transport by Alliance Trucks
Alliance Trucks, the leading Japanese and Korean car dealer in Russia, is proud to announce the launch of its new luxury transport rental aggregator, Alliance Rental. The project is the brainchild of Alexey Ivanov, the CEO and owner of Alliance Trucks, a successful businessman, traveler, and blogger. With over 59 countries visited, Alexey Ivanov has gained valuable experience in the automotive industry, which he has leveraged to create Alliance Trucks, a company that generates a trade revenue of $50 million annually.
Founded in 2014, Alliance Trucks has become the biggest Japanese and Korean car dealer in Russia, with four authorized and certified workshops, warehouses in the capital, and numerous certificates of first dealer with top-rated sales and service quality. The company’s mechanic team has won different national and international competitions of professional skills, including the ISUZU GRAN PRIX, where they were the first Russian and second in the world.
Alexey Ivanov’s awareness and commitment to 10 corporate rules have enabled Alliance Trucks to achieve its current status as a respected and reputable brand in the automotive industry. The rules include prioritizing emotional intelligence, respecting corporate culture and business ethics, seeking opportunities for growth in every crisis, and being socially active and engaged in charitable projects.
Alliance Parts, Alexey Ivanov’s latest venture, is a cars and spare parts distribution business in the United Arab Emirates with a global partnership with different car brands. The company leverages Alexey’s life and professional experience to scale similar projects in different market areas.
Alliance Rental is Alexey Ivanov’s latest project, an aggregator that offers a one-stop-shop for luxury transport rentals. The project’s main idea is to provide all the luxury transport rentals that customers may need for emotional holidays, celebrations, dream realization, business meetings, or just for premium lifestyle in one mobile application.
The application, marketing brand, and all business processes are complete, and legal compliance with local laws, rules, and regulations is under process.
Alliance Rental offers taxi Rolls-Royce, luxury sport cars, yachts, helicopters, and aircraft rentals. Partnerships with operators of luxury services are currently being signed, and the project is ready to launch soon.
Alexey Ivanov’s mission is to make the world a better and cleaner place, live a long, bright, and memorable life, create a family, raise children, create and invent something that deeply touches the feelings of people, be a mentor, teach knowledge, and leave a significant mark in history, society, and culture.
For more information on Alliance Rental and Alexey Ivanov, follow him on Instagram at @a.a.ivanov
Business
Januthan Logathas: A video and photography professional who seeks to leave his name among the best in this area
JANUTHAN LOGATHAS was born in a small town in Switzerland and is the son of a Tamil couple from Sri Lanka. His father was the one who began to inspire him to become a video and photography professional, which is why he is currently widely recognized as well as having followed in the footsteps of his father who also worked in this profession. With time people started noticing his Instagram modeling shoots and he became very prominent among European Tamils.
His tik tok videos also boosted his image and recognition a lot as they were filled with a subtle humor that was very pleasing to his followers who were part of Januthan reaching a much larger audience.
People celebrated the German/Albanian co-worker combo in a peculiar way.
In addition, he was also the first Tamil photographer to win the renowned award for the best wedding photography from Radisson in Europe, he gained great popularity especially with the collaboration with Usha Jay in her dance video which achieved many views and this made his audience grow exponentially.
He knows that in order to continue growing in what he does, he must continue working very hard as he has done up to now, and all this with the aim of increasing his public and the quality of his work, and for this it is necessary to continue going through this long learning process in the one that advances a little more every day to reach the desired objective that is to position its name among one of the best in the video and photography industry. In his social networks you can find a lot of material about his work in addition to him also seeing content about his future works which are more than promising
To grow in this industry, you must continue to constantly learn, since this industry is very competitive and only those who know how to implement their ideas and creativity very well when creating new jobs stand out.
Unveiling Life Through the Lens: Explore the captivating world of talented photographer @jpresidento on Instagram and TikTok, as he captures unique moments that have earned him accolades at the Wedisson Awards. Discover his visually mesmerizing art at these links!
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