2015 is set to be a stellar year for small and medium sized businesses in 2015, with economic growth in the UK set to accelerate at its fastest rate in more than seven years. If you have a company that you are wishing to develop by capitalising on this expansion, you will want to take note of the following businesses trends for 2015. This will provide you with a crucial insight your chosen market and provide a platform for tangible, long-term success, so consider the following: –
Online with Offline
One growing trend that, depending on your business type, you may like to take advantage of is opening a pop up shop or restaurant. A pop up shop or niche store, as they are also known, is a temporary retail space that was originally only found in overcrowded cities such as Tokyo and London. They are now, however, common all over the country and are used by all different kinds of businesses. Indeed, as the expected Amazon tester store indicates, this is not just for small retail outlets.
You could make a pop up store work for your business by opening one for a short period of time to launch a new product or simply to market the products that are usually only available online. This will get your products out there and, if the location is chosen well, the buzz and excitement generated by your temporary shop will drive more traffic to your website. In addition to this, the sales generated in your shop should be adequate enough to cover the costs of your shop. Be sure to insure your pop-up store for as long as it is active, however, utilising reputable firms such as Catlin Insurance to secure viable coverage.
Export, Export, Export
Given the Government’s recent push to get UK businesses to export with their Explore Export Week by UK Trade & Investment it seems clear that exporting is set to be a big trend for 2015. As it stands, only 12% of the small businesses that make up to 99% of UK businesses are exporting. This is surprising given that the Confederation of British Industry reports that businesses that do export are a whole 11% more likely to stay in business if they do.
This leaves a substantial gap in the market for small businesses to take advantage of this and start exporting their British made goods abroad. This may be especially lucrative for quintessentially British products such as those made by traditional methods.
It is also worth noting that there is now more help than ever to enable you to do this. The Government have published an advice page dedicated to providing you with tips and support. With the UK Export Finance helping small businesses to get the ball rolling and UKTI offering free web inner that provide businesses with free instructions, now is the ideal time to drive your small venture forward and achieve long-term growth.