[New] Keeping your business in shape for the future

As 2022 draws to a close, now is a good time to review your business and plan to ensure that 2023 is a year of growth for your business.

For many, the past few years has been a rollercoaster of events that have tested their ability to adapt and respond to change.

There is no doubt that in this current climate there is much to navigate, but with the new year will also come new opportunities and getting your business ‘in shape’ can help you to take advantage of these.

Make time to take stock

Taking a pause for thought and reflection can seem a luxury out of reach to many business leaders, but placing the importance on this that it deserves will stand you in good stead to cope with what 2023 could have in store:

Your offer - A good starting point is to evaluate your offering and whether it still meets your customers’ needs. Do you need to adapt what you do and the way you do it to benefit from the changes in the market?

Even through periods of rapid and unforeseen change, business fundamentals remain the same. It is important to be able to understand and answer key questions about your business,and be able to take actions that will correct any problems you identify. It may make you feel uneasy about the answers but accepting and addressing any issues will improve your performance.

Constant review of each area of the business will ensure that you are continually improving, giving you more confidence to progress and become more successful.

The Growth Hub can help

If you need help to answer some of these questions or do not know where to start, then look no further for impartial and fully funded support.

Friends, families, businesses and groups from around the community came together at Hobbs Hill Wood Primary School, or their homes and offices, to share the experience of sleeping rough in support of the charity.

The hugely successful event has so far raised over an incredible £30,000 – with every penny helping local, vulnerable individuals and families facing homelessness and poverty.

The night kicked off in style with a screening of the England vs USA football match, before attendees had fun dancing at a glow silent disco.

Participants, wrapped up in thick layers and sleeping bags, then braved a humbling night sleeping under the stars with only cardboard boxes for shelter, kindly provided by local removal company, JamVans.

Hot drinks served up by DENS’ social enterprise, the Coffee Project, helped to keep participants warm.

In the morning, participants celebrated their fantastic achievement with a welldeserved breakfast generously provided by the local Rapid Relief Team.

Imagination Technologies, the semiconductor company based in Kings Langley, kindly sponsored the event.

Nicky Maxwell-Braithwaite, Corporate & Community Fundraising Manager at DENS, said: “Thank you to everyone who took part in the Sleepout, and all our supporters who were key in making the event a big success. We are so grateful for the incredible total raised, which is more important than ever as our services face unprecedented demand during these difficult times.”

Donations can still be made towards the event by visiting: www.dens.org.uk/sleepout-donations

Operations - Are you able to deliver what your customers need, when they want it and at a price they are prepared to pay?

Marketing - Is your marketing creating the enquiries that you need to generate more sales?

Sales - Does your sales team ensure that you are able to convert ‘interest’ into orders?

Your Team - You and your team would have dealt with a considerable amount of change and uncertainty over the last year. Supporting wellbeing in the workplace can reduce absenteeism, presenteeism, improve motivation and staff retention. What skills will your business need for 2023? Can you upskill existing staff and/or will you need to recruit?

Finance - Look back at your finances to identify any trends, including both peaks and troughs. This will help you to prepare for the costs you will face in the year ahead and help avoid any unwanted surprises. Do you truly understand where you make money and where you spend money?

At Hertfordshire Growth Hub we have in-house experienced Business Advisers who are here to listen, make suggestions and provide advice about resources and schemes that are available and could help keep you on track, or even exploit new opportunities. In addition, we are well connected with access to both the public and private sector – so now would be a good time to get in contact and see what we can do to help.

Here is what CEO of Crisp Accountancy Luke Desmond had to say about the Hertfordshire Growth Hubs help: “It’s not just the one-to-one coaching, which is really great, but whatever the particular problem is in my business at that moment in time, and over the years it’s been many different types of problems, there’s always been a solution, or help to find a solution available for it”.

For further information about how the Growth Hub can support your business, visit www.hertsgrowthhub.com

Hertfordshire Chamber Celebrates its Long-Standing Members

As we approach 100 years in business, Hertfordshire Chamber of Commerce would like to express our sincere gratitude for our members.

In particular those who have been with us the longest, for their continued support in contributing towards the chamber; from attending events, being ambassadors, to sharing news on the website.

Over the last two years, Hertfordshire businesses have battled their way through the COVID-19 pandemic and have come out on top through resilience, tenacity and adaptability.

Lumina has greatly benefitted from the energy and entrepreneurial mindset that drives the Herts Chamber of Commerce. Through meeting local business leaders, we’ve been able to exchange wisdom with each other and have been given a chance to showcase our expertise across the county. We have been proud to support the entrepreneurial foundation and the Hertfordshire community.

Richard McBarnet CEO Lumina