Archive for May, 2012

EEFG Has Helped 5 Firms. Not A Good Record

According to The Guardian, the much maligned Export Enterprise Finance Guarantee (EEFG) scheme has been heavily criticised for helping a mere five firms since it opened last April. It was designed to help small businesses secure loans by providing lenders with a guarantee for 60% of the loan, while the firm pays 3% upfront.

Shadow Business Secretary Chuka Umunna said it was worrying that the EEFG had been taken up by so few firms. This criticism follows a recent review of the Regional Growth Fund by the National Audit Office (NAO), which revealed that relatively few jobs had been created for the sums invested in projects.

Scource: The Guardian

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BIS Launches High Growth Scheme

The Department for Business (BIS) has launched a£200 million scheme to support high-growth businesses in England.  The Growth Accelerator scheme will provide coaching for businesses to identify and tackle problems such as securing finance, commercialising innovation and developing leadership. Under the scheme, firms will be fast tracked to receive business advice from providers such as UK Trade and Investment (UKTI) and angel investors. Business Secretary Vince Cable commented: “With targeted support we are giving entrepreneurs a fantastic opportunity to take their businesses forward to succeed both here and abroad.”


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7 Deadliest Business Sins – No 4. Never Target Your Customers

Allow your sales people to do what they like, go where they like, to get orders. The result will be an increasing number of low value customers that will not contribute significantly to your bottom line. Your costs will increase as sales people will travel anywhere to get orders no matter what the value of those orders and your competitors will grab the biggest and best customers.

The fifth sin, Never Set Targets For Your Sales team, available 22nd May

This article is reproduced from our in house newsletter. “Boost Your Business” May 2012.

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7 Deadliest Business Sins – No 7. Never Ask For The Business

More than 70% of sales people do NOT ask for the order!  They may well qualify the prospect
right, identify the benefits for that particular customer, do a fine presentation, answer all the objections but then do not complete the sale. Often fear of rejection is at the root of
this issue. But by not asking for some form of commitment they are leaving the door open for the client to say “I’ll think about it.”

This was the last of seven articles, The 7 Deadly Business Sins reproduced from our in house newsletter. “Boost Your Business” May 2012. 

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Micros Need Export Help Selling To BRICs

A survey by the BCC found that almost three quarters of large firms trade with BRIC countries compared to just 32% of micro-firms. Small businesses need more support to trade with high-growth markets likeBrazil,Russia,IndiaandChina,

The BCC suggests the greatest barriers faced by exporting firms include language, public sector procurement rules, regulations and export tariffs. It recommended that the Government provide targeted support to small firms wanting to export to BRIC countries, and establish free trade agreements with countries such asIndiaandJapan.

Scource: British Chamber of Commerce

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7 Deadliest Business Sins – No 6. Don’t Bother With That Fluffy Bunny Motivation Stuff

Selling is a tough occupation and motivation needs to be a regular part of the sales manager’s activities. Identifying what the right sort of motivation is for each of the sales team and then
working on that will help turn average sales people into stars. But start with your own attitude. Attitudes are contagious – is yours worth catching?

The seventh and final sin, Never Ask For Business, available 25th May

This article is reproduced from our in house newsletter. “Boost Your Business” May 2012. 

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7 Deadliest Business Sins – No 5. Never Set Targets For Your Sales Team

By not setting targets your sales team will not know what is expected of them, not know which customers to target and the sales manager will find it difficult to motivate them to a better performance. Sales people who are not comfortable with targets are just that comfortable.

The sixth sin, Don’t bother with That Fluffy Bunny Motivation Stuff, available 24th May

This article is reproduced from our in house newsletter. “Boost Your Business” May 2012. 

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