More than 90% of all European businesses are SMEs and their role within the economy is often underestimated. SMEs contribute more than 50% of the value added tax generated by businesses in the EU. This sector has an important role in building the economy. Along with their main role in research and development and being responsible for economic growth, SMEs may be considered as the backbone of the economy.
According to the latest growth figures, the economy has slowed down between April and June and further growth could prove difficult if businesses do not make changes to their existing practices. While IT is seen as an ideal opportunity many are reluctant to embrace this and see the technology increasing capital costs and the retention of inherited IT systems.
This was the case in the past but with new developments in on-device and on-demand services like mobility and cloud computing, speedy ROI from technology is achievable by any business irrespective of its size.
SMEs must continue to streamline and evaluate their cost of operation wherever possible to ensure their business maintains its smooth running and efficiency. By employing strict control measures, SMEs can ensure maximum cash flow as well as maintaining the best return on their investment.
It is essential for SMEs to concentrate on four main spheres to increase their chances of success rather than merely surviving in the competitive business world. Besides continual examination and adjustments of operating costs, SMEs needs to remember the customer is of paramount importance and customer retention is vital in ensuring their survival.
SMEs must remain versatile and alert in changing market conditions. They should have the ability to respond to changes more quickly than larger companies. Finally the SMEs need to develop an infrastructure which will work in the future and support growth within the business.
September is a major time of year in the fashion world and some would say the most important month of the year. It is the time that stores are releasing their winter collections and the September catalogues are coming out which will indicate the seasons trends.
London fashion week will be occurring soon and will see some of the latest trends in women’s wear and well as a day showcasing the latest in men’s fashions. The exhibition will be at Somerset House which will be transformed into an exhibition with some 150 designers showcasing their latest outfits. There are many other venues all over London which will displaying outfits for the fashion week.
Jonathan Saunders is going to be one of the key people at the event as he has recently been named Scottish designer of the year. He will be sure to impress people at the shows with his collection of creative prints and clashing colours. Paul Smith will also be a great attraction with his oversized blazers.
Issa London is going to be a designer to watch as their signature dress is the very definition of glamour; the designer is also very popular with the Duchess of Cambridge. The line up by the brand is expected to include items in their style which utilizes silhouette dresses and vivid colours. If you are unable to get a ticket to the show, do not worry as there will be live streaming of the event all week.