{"id":3559,"date":"2018-04-04T09:02:30","date_gmt":"2018-04-04T09:02:30","guid":{"rendered":"http:\/\/www.networkportfolio.co.uk\/mcclarroninsurance.com\/?p=3559"},"modified":"2018-06-18T11:22:59","modified_gmt":"2018-06-18T11:22:59","slug":"smes-bolster-uk-economy","status":"publish","type":"post","link":"https:\/\/www.networkportfolio.co.uk\/mcclarroninsurance.com\/news\/smes-bolster-uk-economy\/","title":{"rendered":"\u201cBrave\u201d SMEs continue to bolster the UK economy"},"content":{"rendered":"

Rising costs and decreased consumer demand are not preventing people from taking the leap to set up a business.<\/p>\n

\u201cDespite rising costs and flagging consumer demand, we still have ever more people taking the brave and exciting step of starting a small business,\u201d said Mike Cherry, National Chairman of Federation of Small Business (FSB).<\/p>\n

He was commenting on figures released by Department for Business, Energy and Industrial Strategy (BEIS) in December last year which showed that the number of SMEs in the UK has reached record levels of 5.7 million.<\/p>\n

With a combined turnover of \u00a31.9 trillion, the small business sector accounts for 60% of private employment, offering crucial support to the country\u2019s economy.<\/p>\n

But running a business comes with its own challenges, including difficulties in accessing finance, regulation, inefficiencies and red tape.<\/p>\n

These challenges could be in part to blame for the fact that 55% of SMEs don\u2019t survive longer than five years, according to RSA\u2019s 2014 Growing Pains survey.<\/p>\n

Those who do make it through the potential tricky early years then have the additional trial of accomplishing growth.<\/p>\n

Identifying potential risks, alongside a set of standards to support expansion, is crucial in keeping your business in check.<\/p>\n

\u201cPreparing for hurdles around the corner is just as important as visualising success in business,\u201d says Commercial Account Executive, Rhys Jones, at McClarrons.<\/p>\n

\u201cThe figures show a flourishing SME market, and it\u2019s our job to help clients understand risk, and protect against it so that setbacks don\u2019t spell the end of everything they\u2019ve achieved.\u201d<\/p>\n

At McClarrons, our team of commercial insurance specialists offer an insight into risks our clients may not have considered, arranging an insurance solution that aims to meet all the points identified.<\/p>\n

\u201cIt\u2019s about being there for our clients just in case they hit a stumbling block along the way. It\u2019s not a negative outlook \u2013 rather just an acknowledgement that all business face problems at some point. The best way to handle them is being ready.\u201d<\/p>\n

If you’d like to learn more about McClarrons’ Commercial offering, click here<\/a>. Alternatively, if you’d like a complementary review of your business insurance, contact our commercial team here<\/a> or by calling 01653 697055<\/a>.<\/p>\n

\"Rhys
\nAuthor: Rhys Jones, Account Executive<\/em>
\nTel: 07701 281726<\/em>
\nEmail: rhys.jones@networkportfolio.co.uk\/mcclarroninsurance.com<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Rising costs and decreased consumer demand are not preventing people from taking the leap to set up a business. \u201cDespite rising costs and flagging consumer demand, we still have ever more people taking the brave and exciting step of starting a small business,\u201d said Mike Cherry, National Chairman of Federation of Small Business (FSB). He […]<\/p>\n","protected":false},"author":6,"featured_media":3706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[585,586,587,588,589,334,111,110],"yoast_head":"\n"Brave" SMEs continue to bolster the UK economy<\/title>\n<meta name=\"description\" content=\"Keep up to date with our blog where we offer industry insights, advisory articles and insurance updates. 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