The Biggest Risks Facing Your Small Business Right Now

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It’s hard to feel too optimistic about anything right now, in these uncertain times. And, it’s especially down heartening when you are as small business owner relying on a steady income stream to keep you going. And, during times like these, we need to make sure we have robust systems and procedures in place to give ourselves the strength to pull through. In today’s guide, I’m going to go through some of the biggest risks facing your business today. Let’s take a closer look.

The weather

Let’s start with the one thing that everyone in the UK always talks about: the weather. It hasn’t been the best of starts to the summer, and it is causing a lot of uncertainty amongst several industries. Retailers, online or in the physical realm, all report lower sales during bad weather and rain. It’s also an issue for the tourism sector, who rely a lot on those last-minute bookings. Given the choice right now, I would prefer a weekend away on a hot beach somewhere nice rather than a two-week holiday in the UK.

Brexit

If there’s one thing responsible for everyone’s insecurity right now, it’s the political climate. And, it’s fair to lie the blame directly on the doorstep of Brexit. Small businesses will be worrying about international sales, and their ability to grow. Will people still be spending as much as they would have with a remain vote? It’s not business as usual, unfortunately. According to reports, Brexit is also having an impact on hiring employees, too. Clearly, there is a long way to go before we make the split official. I just hope it’s not going to be a messy divorce.

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Cybercrime

You can’t turn on the news without hearing about hackers and online thieves breaking into yet another system. It’s one of the biggest concerns that all businesses share. It’s not just the giant corporations feeling the effects, either. Small businesses are often soft targets for hackers because they don’t have the right level of security. Whatever line of business you are in, make sure you have robust protection to keep yourself safe.

Interruptions

I’m finding it increasingly hard to stay on track these days, thanks in large part to an enormous volume of emails, calls, and messages I have to deal with. Does that sound familiar? Productivity can take a nosedive when you have so much going on, and it can sometimes be hard to see the wood for the trees. There are a few apps out there that can help, however. I’ve been looking around for something that will let me work in peace, and stop all those notifications happening every ten seconds. Let me know if you have any ideas – we’re all in this together, I’m sure!

OK, so these are the problems I think should be high on everyone’s list. I am keen to hear from you guys, too. What are you worrying about when it comes to running a small business? Have I missed anything off the list? Let me know in the comments section below!

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