Business Insights

The finances which are floating around in modern football at the moment are quite staggering, with multi-million pound takeovers of clubs such as Manchester City and Paris St Germain proving that the lure of the game still endures as the ideal plaything of the super-rich.

There are several cities throughout the world who can lay claim to being at the heart of the modern business world.

Setting up your own business can be quite an attractive prospect in the current climate. If you have a good business idea, a sensible marketing strategy and a bit of start-up capital then it may not be as difficult as you initially imagine.

The growing influence of social media in terms of influencing modern business practice is largely indisputable at this point. An increasing amount of people are becoming aware of how to use this outlet as part of an online purchasing process, and this could have significant consequences for your business.

Struggling companies are increasingly being encouraged to think outside the box in order to win new business and generate renewed interest in their brand, but what does this really mean? The idea of trying something different may be dictated by the current financial position of your business, as well as logistical concerns over things like location and employee numbers. However, venturing outside of your established comfort zone and trying a new technique could be worth a try if your company is struggling to survive in the current financial climate. Changing your message Changing the general message of your business doesn’t have to involve a complete re-brand of the company. Sometimes it can be as simple as changing your advertising slogan to make consumers aware of a different service which you offer that is possibly not gaining much recognition. Such a tactic could be the catalyst for a wide-scale business recovery. Investing in the internet One thing which all successful modern companies have in common is that they have found a way to make the internet work for them. A myriad of statistics now suggest that people search online for products/services more than through any other outlet, so getting SEO-savvy and looking into the idea of social engagement may be just the kick-start your company needs. Use your size to your advantage Smaller companies may increasingly feel swamped by larger organisations within their sector, but the one area where they can almost certainly trump their counterparts is in terms of a personalised service. Little touches such as free delivery, regular communication and loyalty discounts could be the difference between losing and retaining a valued and important customer. In the week that it was announced by the Technology Strategy Board, the UK’s leading innovation agency, that a budget of £440 million will be set aside to support notably innovative businesses, the idea of thinking outside the box could not be more relevant. Companies that work in areas touching on renewable energy, advanced materials, digital technologies and healthcare will all be able to get their hands on the impressive budget providing they prove their ability to implement innovative strategies in the current climate.