Team Management Ltd is a business about business, helping business owners and business teams to better understand and manage their businesses and, by doing so, create stronger, more sustainable, profitable and valuable businesses.
There are many established companies providing support service to business and demand for such support will likely increase for the simple reason that very few people are business experts; most entrepreneurs have a core skill that becomes a business as opposed to a business expert who sees an opportunity and exploits it.
In the UK 98.8% of all businesses are classified as small or medium sized enterprises (SME’s) and growth in the number of registered companies has risen from 1.5m in 2000 to 3,896,755 at March 2017.
What should be further reminded is the fact that National statistics show that whilst the number of new businesses created increased from 383,000 in 2015 to 414,000 in 2016, the number of business cessations increased from 283,000 to 328,000.
The Companies Act 2006 adopted a ‘think small first’ approach recognising the undisputable fact that small and medium sized businesses make an essential contribution towards the UK economy not just in terms of financial added value, but also social value, creating employment and community contribution.
As can be seen from the above noted statistics, whilst starting a business is easy, making a business both successful and sustainable is somewhat more difficult…
Interestingly, a headline topic of 2017 has been the disappointment of UK productivity – or more simply stated ‘added-value’ represented by employee output achieved per hour in the work place which remains static at the same level as before the financial crisis of 2008, for which a pre-crisis trajectory would have shown an expected 20% improved performance by end of December 2017.
1994 Nobel Prize Winning Economist Paul Krugman stated that ‘productivity isn’t everything, but in the long run it’s almost everything.’
A simple response may be that if your competitors are only performing at the same level then it doesn’t matter, but such comment is outdated and naïve – competition is now global and even if productivity output is comparable, wage rates and operational costs in the UK are far higher than many of its overseas competitors.
However, for companies with a pro-active management team who are determined be better than average, there is very real opportunity to achieve outstanding results even during tough economic times.
The process of improvement is rarely difficult, the challenge is moving from where the company is at, to where it needs to be and this is almost always a case of educating senior management to think pro-actively, to plan and to create a future as opposed to working hard today and worrying about the future when, and if, it arrives.
As a company, Team Management have the expertise to work with the management of companies of all sizes and types to improve everyday performance, profitability and company value.
Why not make 2018 the year that makes the difference?
Contact Chris@team-manage.co.uk it costs nothing to talk.
Wishing all reader’s, a really great 2018
2. Office for National Statistics – Business demography, UK: 2016 – 21st Nov 2017
3. Financial Times – Four theories to explain the UK’s productivities woes – 23rd Oct 2017