Issue #56 - Universally challenged? 😨
What are business owners biggest challenges for 2023? | National Tea Day | How to run a café | How to get guest WiFi for your business | 5 businesses 1 question | Words | Tunes | More
🦾 GO
What’s your biggest challenge as a business owner? ⛰
Welcome to Issue #56 of The Backbone - the fortnightly newsletter from Bionic.
Running a small business can be challenging at the best of times, but it looks like the turbulence of the last few years has taken its toll on Britain’s backbone businesses.
There are now 5.5 million small businesses operating in the UK, compared to 5.9 million in 2020 - a pretty significant fall of 6.6%.
Everything from Brexit to the energy price crisis - via a global pandemic - will have played a part in the demise of so many SMEs. But what are the biggest issues facing business owners as we move through 2023 and beyond?
According to figures from Startups.co.uk, around half (45%) of small business owners say high inflation is the biggest challenge for the year ahead, up from 20% last year. In terms of growing a business, the biggest challenges are tied between retaining valuable employees (25%) and increasing revenue (25%).
Tech plays a big part in what we do here at Bionic, but 50% of businesses say that they’re put off adopting new technology by cost.
What do you feel are the biggest challenges your business will face over the next 12 months? We’d love it if you could leave a comment to let us know 👇
🤳 SOCIAL
Friday, April 21 is National Tea Day - the perfect excuse to get out and support your local independent cafe or tea shop. Let us know how you prefer to take your morning cuppa by getting in touch on our socials or by leaving a comment below 👇
And feel free to clear the room with our tea-themed pun…
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🗞 READ
The ultimate guide to running a café 🥪
Like with any new venture, opening and running a café needs hard work and dedication. Our ultimate guide to running a café will take you through the process of planning to start a new café and the steps needed to open it. If you already own a café and you’re looking to give your business a boost, we’ve got some top tips for you too.
How to get guest WiFi for your business 🌐
For some businesses, guest WiFi is now an essential part of the customer experience. If you work in hospitality - running a café or hotel for example - most customers will expect a good quality guest WiFi connection. Even if you are office-based and have regular meetings, it may be worth getting guest WiFi to allow visitors to get online quickly and safely.
🗣 SHOUTOUT
#BionicBusinessStory - 5 businesses, 1 question 🤔
As we’ve been looking at the challenges faced by business owners in this issue, we thought we’d ask some of our customers what are the biggest barriers they face as small business owners. Here’s what five of them had to say…
Bionic - What is the biggest barrier you face as a small business owner?
☕ “We had massive problems trying to buy the tea room in the beginning. No banks would help us out but my dad urged me to look into a Business Enterprise Fund.” Jo Hunter - That Tea Room
💅 “In the short term, it's lots of hard work to get something off the ground. It can be stressful, especially with cash flow. But, if you have an idea or a passion to improve something and you have a lot of positivity and a ‘never give up’ attitude then I think you will be successful.” Lilac Miller - Sleeping Beauty Salon
🏋️♀️ “It’s very hard for us to compete with cheap chain gyms opening nearby and taking business. Often, they have lower membership prices and 24-hour openings.” Tyrone Haughey - Heroez Gymnasium
😱 “Being confident in myself. I suffered a lot with imposter syndrome at the start, I felt like because I was self-taught and didn’t have a certificate or a degree that I wasn’t a valid designer. But I've learnt a lot and my confidence has improved over the last few years.” Martha Omasoro - BYTMXG Designs
🍩 “I’d say the biggest barrier is generally increasing production while we’re expanding and managing customers.” Wade Smith - Doughnotts
Want to read more small business stories? Head over to Bionic 🦾
📩 JOIN
Get involved with our business community 🔊
Share your thoughts and tips to give other busy business owners a helping hand. Or ask a question to see if anyone can help you out.
📊 BUSINESS
Get your business costs sorted 💷
Bionic - the business price comparison experts - compare a range of business essentials to help you 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 🦾
Bionic’s tech-enabled experts were just really magnificent for JRM 🦾
🎧 LISTEN
Playlist 🎶
Yo-Yo Ma is an American cellist. Born and partially raised in Paris to Chinese parents and educated in New York City, he was a child prodigy performing from the age of four and a half. This playlist - chosen by Steph, Digital Marketing Manager at Bionic - has all the essential tracks, ranging from compositions by John Williams, Elgar, and Bach, to collaborations with Mylie Cyrus, Elton John, Santana, and India.Arie.
Podcast 🎙
Forget Succession. Forget Game of Thrones. Forget Breaking Bad. Forget Mad Men. The Sopranos and The Wire are the two best TV shows, ever. Pod Yourself a Gun sees comedians Matt Lieb and Vince Mancini watch every episode of The Sopranos and The Wire then talk about it with friends, fans, actors, writers, TV critics, and more. If Bunk burning his clothes in the bath had you in bits, or Ralph’s gruesome demise had you reeling, then this is the podcast for you.
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🏡 HOUSEKEEPING
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🚫 STOP
Thanks for making it to the end of another Bionic small business bulletin 🤝🏻
Please leave a comment and let us know if there’s anything else we should be featuring.
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