Originally written by Lynn Rattigan on Small Business
Since the emergence of COVID-19, SMEs have undergone a rapid evolution with priorities shifting overnight and changes made to how they conduct business.
For some, this has been an opportunity to reassess business models and operational costs, diversify offerings and find new ways of delivering the same services. Despite the challenges of this year and uncertainty over the future UK-EU trading relationship, SMEs continue to demonstrate their ability to respond in agile ways. Many entrepreneurial businesses remain cautiously optimistic about how they’ve been able to pivot.
Amid disruption to the economy, there are key growth drivers that can help entrepreneurs and SMEs maintain their ambitions and protect growth plans. These drivers can help aspiring companies think differently about their businesses and successfully execute their growth strategy over the long-term. These drivers are: the customer, people, technology, operations, finance, transactions and risk.
Our research has found that focusing on each one can help business leaders assess where they are today and plan the right path to accelerate growth. The most successful companies tend to keep in mind their mid- to long-term priorities, and they continue to invest in areas such new talent, which they know will be