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1pm plc

Innovation and adaption are key for SMEs

As the covid-19 pandemic presents unprecedented challenges, government guidelines to stay indoors and socially distance have dramatically changed the business landscape as we know it. With many businesses forced to close their doors to the public or downsize current operations, businesses of all sizes are being forced to think of new ways of working. In this fast-changing marketplace, now more than ever, innovation and adaption are key for SMEs.

Small business owners are familiar with the preparations required to manage common business challenges, whether that be a seasonal shift in sales or unexpected employee absences. With the coronavirus crisis unlike anything ever experienced before, in the face of uncertainty many business owners are having to think on their feet. We are already seeing a great number of businesses providing inspiration and seizing the opportunity to evolve.

When remote working was enforced, we saw a surge in the investment in technology and online presence. In a growing digital world, businesses can continue to offer help and guidance, promote products and services, and simply stay in touch with customers. From using video technology providing virtual consultations or delivering at-home tutorials, businesses have found new ways to communicate with their audiences in the comfort of their own home. It is key to remember that as social beings, our customers value connectivity more so now than ever.

1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring. Gener8 Finance Limited is a wholly-owned subsidiary of 1pm.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.