2023 was welcomed with a range of mixed emotions, excited by the opportunities a new year presents, yet mindful of the uncertainties, pressures and challenges we face.
But if there is one thing to be sure of, it is the ever-present resilience of Lancashire’s small businesses. The year ahead presents a chance to take back control and create positive change.
Brexit, the Covid pandemic and the ongoing war in Ukraine still loom over us. Their impacts for our small and medium-sized enterprises (SME) mean we must show our famous strength and adaptability, and ensure we are not left behind.
Through rising inflation, supply chain issues, reduced post-Covid government funding and the resulting cost of living crisis and exponential hike in energy costs, SMEs are often pushed to operate in some form of ‘survival mode’ – but what are their options and what is the best strategy to face the year ahead with?
This is the time to take stock and reconnect with the different elements in your business that can be influenced and controlled. Knowing your organisation, your staff and your customers inside and out could make all the difference.
As so many business owners feel apprehensively forced to review their prices, it can be intimidating and with inexperience making them want to shy away from it, instead of facing what can feel like uncomfortable decisions, head on.
However, it is more than likely that you will be increasing your prices and you need to learn how to confidently, effectively and efficiently lead your business through this process.
Fortunately, fully-funded, expert business advice is available via a Lancashire programme, delivered by Lancaster University Management School (LUMS).
Their upcoming Pricing with Purpose programme is designed to help the owners and directors of Lancashire SMEs to break down the barriers to implementing price changes. It will explore why price increases are the most effective means of increasing profitability, how to identify the right pricing strategy for businesses and ways to confidently put up prices without losing clients.
Delivered by business expert Mark Prince, through the programme you’ll analyse your current processes and ultimately gain more control of your business finances which can lead to bigger profits.
Get fully-funded support to become more profitable.
Pricing with Purpose is delivered in-person over two-days and is designed to be short, practical and impactful.
It will give you the time to step away from the day-to-day running of your business and reflect on your strategy – moving away from making ends meet, to helping your business thrive.
The programme is fully funded for eligible Lancashire SME businesses through the European Regional Development Fund (ERDF) and is highly interactive to help build meaningful relationships with fellow business leaders.
This programme starts on 27 April 2023.
Register online or email lancashireforum@lancaster.ac.uk to find out more about how this programme can positively impact your business.
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