SMEs in North of England are the most vulnerable to changes in local markets
A new survey carried out by Centre for Cities revealed the fact that the SMEs that are most vulnerable to significant changes in the conditions on the local markets (such as lower wages, welfare cuts and job losses) are all located in the North of England.
As a news report on this topic has revealed, Blackburn, Liverpool and Hull, as well as Sunderland and Middlesbrough top the list of the “most vulnerable” areas for SMEs, in terms of significant and immediate changes on the local markets. At the other end of the spectrum, SMEs in cities such as Cambridge, Crawley, Reading, Aldershot and York are at the least risk to be affected by significant changes to the local market.
The report drawn up by Centre for Cities provides a ‘health check’ of small and medium-sized businesses (SMEs) by evaluating cases on a city-by-city basis and also reveals that the health of the local market is one of the most important factors in determining the success of SMEs, and that two thirds of those types of businesses in some cities remain reliant on trading with customers on a local basis.
Furthermore, the Centre for Cities’ study finds that the large majority (99%) of businesses in cities are SMEs, providing half of all private sector jobs.
The reports also calls on the government to prioritise policies which can support the smaller end of the market, including here a simplification of the ‘confusing’ mix of business support.
Workforce management should be one of the top priorities for any small and medium business that wants to reduce its exposure to local market conditions, since effective and efficient processes implemented in this field can lead to superior, leaner management and also significant savings.
This is where Tensor plc can help, given our extensive level of experience in the field of Time and Attendance, Human Resources Management and Access Control.
If you’d like to find out more about the comprehensive workforce management solutions Tensor plc has in store and the ways in which they can help your company become more efficient and save money, just contact us or Book a Demo, our team of dedicated representatives will be more than happy to answer all of your questions and queries.