Celebrating Britain’s Small But Mighty business community

Expecting the unexpected

The impacts of Brexit and the pandemic have seen UK SMEs having to adjust and learn some difficult lessons. Since the start of the pandemic for example, UK SMEs have experienced, on an average, an 18% decrease in their business’ usual monthly income.

We believe the ingenuity demonstrated by businesses, their resilience and the lessons they learned, will serve as inspiration as we look ahead to the challenges tomorrow might bring. 87% of SMEs leaders are already planning for how they can tackle potential crises in the future. While the outlook may still be unsure, the roadmap out of lockdown and the continued vaccine rollout, provide some light at the end of the tunnel for businesses.

It's not just a business, it’s the future

Our Small But Mighty business campaign shone a light on the stories of people going above and beyond to demonstrate their creativity, grit and accomplishment over the last year. Now we’re beginning to enter a new chapter: one focused on building reserves, navigating the road to recovery and investing for growth for a brighter future.

It’s only by reflecting on these difficulties that we can build a nation of more resilient businesses.  We want to gather the lessons learned from this turbulent period and use them to improve both UK businesses and our approach as a trusted partner to our customers. 

Aldermore was born out of the last economic crisis. We understand the challenges faced by the business community as it emerges from this period of uncertainty. As we look ahead to the future, we’re committed to providing SMEs with support, guidance and specialist products to allow them to become the best businesses they can be.

Going above and beyond

When the world turned upside down, people working in and for the small businesses of Britain went above and beyond to help their customers, employees and local areas. That tireless effort, personal sacrifice and unwavering commitment will be the key to our recovery.

Yet, so many of these amazing stories go untold. We believe they need to be shared and celebrated – as inspiration and motivation to all those working hard to recover, reboot and rebuild. It takes a special kind of person to start, run or support a small business. It demands strength of character, vision and dedication.

It's not just a job, it's a way of life

This year has been a once-in-a-lifetime test for this incredible group of people, one of the toughest we’ve ever seen.

We were there in 2008, so we know what it takes and costs to pull through. The average small business lost a third of their cashflow in four months1. Brokers saw their ways of working unravel.

But when the chips were down with shuttered shop fronts, furloughed staff and socially-distanced streets, the determination to fight back was remarkable. We have been blown away by examples of people adapting to try something new, daring to take risks, or making truly hard decisions in order to stay afloat.

It is that faith and determination to try and try again that will pull many through the next few months. For some, against all the odds, it has even created a chance to grow. 

1 Source: Research conducted by Opinium Survey between 10 and 25 February 2021- 1,271 senior decision makers at small to medium-sized UK businesses

 

 

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