It’s been a busy year for small businesses in the UK, and with the upcoming Golden Jubilee and Olympics, it could also be a prosperous one. After some tough times, SMEs will be glad to benefit from over £7.8 billion worth of extra business from overseas Olympics visitors alone.
Such a positive business setting is rare at the best of times, and small firms in Britain are eager to take full advantage of the opportunities 2012 has to offer. However, freeing up cash is a pivotal part of the process, and while it doesn’t take a team of expert strategists to realise how important it is for SMEs to live within their means, the solution isn’t as simple as deciding to spend less.
The trade exchange offered by Bartercard exists to help small firms in such a position. It offers members the chance to exchange services while holding onto their cash. Our members enjoy a unique relationship with one another, with beneficial and fair trading based on a mutual understanding of the need for an available cash flow. Becoming part of a global membership body also helps each business raise their profile within the 35,000-strong Bartercard community and beyond.
We have recently implemented National Trading Days, where staff and members pool resources to share trading opportunities and ideas to help business save their hard-earned cash. I set up the first National Trading Day with Bartercard Trading Managers James Brewer and Nick Whitford. After this generated T£500,000, we’ve seen a huge demand from SMEs for trade opportunities that still allow them to free up their cash. We’ve since decided to make this a regular occurrence and from now on, Trading Days will be held monthly at the Bartercard Head Office.
We’ve seen first hand the energy and ambition that exists within the UK SME sector. If businesses remain nimble and continue to innovate, there are some excellent opportunities to be seized this year.