Issue #26 - A year in the life 📅
5 business owners answer 1 key question | Ukraine conflict and energy prices | How to fall back in love with your business | Why are we still saying "Ignore Martin"? | Words | Tunes | Podcasts | More
🦾 G O
It’s our first birthday 🥳
Can you believe it’s been a year since we launched Issue #1 of The Backbone?
That inaugural outing contained some words to try and raise the spirits during a very dispiriting period of lockdown as well as news of a new social media platform called Clubhouse - it never quite took off and Twitter was able to steal a march on it by introducing its own version, called ‘Spaces’.
Since that first issue, we’ve been in and out of lockdowns and our fortnightly newsletter has furnished you with some 25 words you may not have heard before, news stories on everything from fake Google reviews to the end of the landline and sky-high energy prices to what rising inflation really means.
We’ve also brought you a Budget special (we’ll be doing another one on March 23), customer stories, and countless tips to help with all aspects of running a business.
Not to mention loads of great playlists and thought-provoking podcasts.
This issue will contain some of our favourite words from the last 12 months, along with some tips to give your SME some TLC, a bit on the Russia and Ukraine conflict, wise words from some business owners, and more.
It’s The Backbone’s birthday issue - let’s go…
🗣 S H O U T O U T
#BionicBusinessStory - 5 businesses, 1 question 🤔
We love hearing all about how small business owners got to where they are? The stories of how they’ve built their business, the things that keep them awake at night, their biggest achievements, and the things that keep them coming back for more. We asked five business owners one simple question, here’s how they answered…
Bionic: What's the best thing about running your own business?
☕ “Our staff are amazing. We really couldn’t do anything without them.” Jo Hunter -That Tea Room
🎂 “We’ve won awards for our effort in our tearoom, for our food and as best new businesses, we were even awarded one of the first prizes for the standard of our loos! People seemed to really love and appreciate the amount of effort we’d put in. We’ve always had a great customer base too.” Melanie Martin - The Hinny Bakebox
🧟♀️ “It's just a fun job, and we all have a great time doing it, I don’t think many people can say they build scary stuff for a day job.” Bex Williams - AtmosFEAR
🍖 “The best thing for me is the praise, I often get a ‘well done’ or a ‘thank you’ for working so hard that day. But another great thing is the relationships I've developed with the other employees. We all get on really well and have a great laugh together.” Drew Stagg - Potter's Butchers
🎨 “The best thing about having my own business is the ability to wake up and say, ‘I’ve created this. My success is in direct relation to the effort and hustle I bring every day'. It’s also allowed me to create memories and emotional moments for people.” Jillian Kelshaw - Jillian Kelshaw Art
Click on the open shop sign below to check out more Bionic customer stories 👇
📰 N E W S
Will conflict in Ukraine push up energy prices? 🔥
It’s hard to believe that energy prices could go any higher than they already are, but if the tensions between Russia and Ukraine escalate much further we could see an even bigger spike in rates.
Energy prices tend to be linked to what is happening around the world. This is something we saw during the 2011 conflict in Libya, for instance, where the instability brought about from the conflict caused oil prices to spike to a two-and-a-half-year high.
Even things such as natural disasters in countries that produce oil or gas can affect how much we pay to heat our homes here in the UK.
It is all to do with supply and demand – wholesale costs, transport costs, availability, and infrastructure maintenance. Though these things seem far away from us, they genuinely do have an impact all the way here.
Why is the UK facing a gas shortage?
A cold winter that was felt on a global scale increased the reliance and demand for gas, which ended up depleting reserves. Though this is usually fine as stores replenish during the summer, the COVID-19 lockdowns had caused many major producers to fall behind in their output and so production fell behind its normal levels.
To make matters worse, there have been relatively low winds in recent months which has caused the amount of electricity generated by wind power to fall.
The government has said that high global gas prices are the reason for the UK’s energy bill crisis and not the security of supply. However, the problem with low gas reserves can be traced back to 2017 when the decision was made to close the UK’s largest gas storage plant.
Though being closed due to safety concerns, it was not rebuilt or refurbished as it was not considered cost-effective, despite there being warnings that we could be hit with more volatile winter gas prices as we become more and more dependent on energy imports.
How will the conflict between Russia and Ukraine affect energy prices?
The geopolitical tension could mean that Russia may cut off or limit gas supply to Europe. Reducing the UK’s already low supply of gas could cause energy prices to rise even further.
This is not good news as it comes off the back of the latest energy price cap announcement, which is set to rise to £1,971, up by an eye-watering £693. It is even estimated that fuel poverty within the UK could treble as a result.
Both UK and EU leaders have indicated they are working on ways to lower their dependence on Russia for energy in the coming months. Prime Minister Boris Johnson, however, admitted that there is the prospect “of a spike in prices, that’s why we’re working together with President Biden, with other colleagues, to see what we can do to increase the supply of gas both to Europe and to this country as well.”
With such uncertainty around prices and no price cap on commercial energy contracts, it could pay to compare deals and lock in rates now to protect against any further price rises. Give the team at Bionic a call now on 0800 860 6833.
📩 J O I N
We want to hear about you and your business 🗣
💡 How did you end up running your own business?
😟 As a business owner, what keeps you awake at night?
🤩 What’s your proudest achievement as a business owner?
🤔 What advice would you give to someone starting their own business?
Leave a comment to get involved 👇
📰 N E W S
Why are we still saying “Ignore Martin"? ✋
Back in October, just as the severity of the energy price crisis began to sink in, we went against conventional wisdom by telling our customers to ignore the advice of Martin Lewis.
This wasn’t us being contrary, we just wanted business owners to know that the Money Saving Expert’s assertion to not switch energy suppliers wasn’t necessarily the best advice for them.
Business energy contracts are different to domestic ones, and with no price cap in place, supplier’s can set their prices as high as they need to. That’s why we’ve seen rate rises of up to 120% on commercial out of contract rates.
And now energy is firmly back in the news after it was announced that the energy price cap will raise by an eye-watering £693 from April 1, we thought it was worth reiterating our message - if you’re a business owner, it still pays to compare deals and switch with Bionic.
Click on the banner below to find out why 👇
🤝🏻 T I P S
8 tips to give your SME some TLC 🤗
Although you might still be recovering from the Christmas festivities, February marks yet another excellent marketing opportunity for small businesses. We’re talking about spreading the love for Valentine’s Day and beyond.
It’s easy to get stuck in a rut when you’re on the frontline and running your company day after day. You might even lose sight of why you started it in the first place and what makes it so special.
So why not spruce up your business this February and rediscover why you’re so proud of it. Here are eight ways to give your SME the TLC it deserves.
Spruce up your shop 🏪
Pique interest with new products 👀
Sweet talk your staff 😘
Give your marketing a makeover 💅
Let your business personality shine 🌟
Hire a business guru 🤓
Get savvy with some new skills 🤹♀️
Connect with your customers 🤝
For a more detailed breakdown, click on the happy business owner below 👇
🗞 R E A D
Seven in ten UK firms say the government's Brexit trade deal with the EU has been bad for business and held back growth, with a majority reporting it has pushed up costs and increased paperwork.
Brexit: 71% of UK exporters say government’s Brexit trade deal is bad for business
The chairman of Britain's biggest supermarket has warned "the worst is yet to come" on rising food prices. Tesco's John Allan told the BBC he was aware people were on very tight budgets and having to choose between food and heating "troubles us". But he said grocers and suppliers were not immune from rising energy costs.
Worst to come for food price rises, Tesco boss says
🎧 L I S T E N
Playlist
Chosen by Sej, designer at Bionic, Independent Ladies is a podcast that declares “It’s time to turn your sass level up to 100!” And with songs from Beyoncé, Whitney Houston, Taylor Swift, Rhianna, TLC, Chaka Khan, Amy Winehouse, and loads more, this will have you sashaying along and flicking your hair before you can say “you shoulda put a ring on it”. Even you fellas.
Podcast
No matter how old you are, there are times when you just need a good, old-fashioned scary story at bedtime - and that’s where The Let’s Read Podcast comes in. Stories are sent in from around the world (the US narrator’s attempt at some UK words and phrases are pretty funny) on topics as diverse as creepy neighbours, morgue stories, abandoned houses, creepy churches, home alone, and hitchhiker scare stories. Don’t have nightmares…
📊 B U S I N E S S
Get your business costs sorted 💷
Bionic are the business price comparison experts. We compare a range of business essentials to help your business save time, money, and hassle.
Our tech-enabled team will answer all your questions in simple terms, and help you find the best deal on business energy, insurance, phone, broadband, or finance. No jargon. No-fuss. #BeABionicBusiness 🦾
Check out more ⭐⭐⭐⭐⭐ Trustpilot reviews
🔥 H A S H T A G
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Get involved by using the hashtags #BeABionicBusiness and #BionicBusinessStory.
🏡 H O U S E K E E P I N G
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🚫 S T O P
Thanks for making it to the end of another Bionic bulletin 🤝🏻
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