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Study Finds More SMEs in Financial Distress Despite Economic Recovery

The economic recovery is supposed to be making life easier for entrepreneurs and small businesses, but a new study from insolvency practitioners Begbies Traynor has suggested that the number of small businesses in ‘significant’ financial distress has increased over the last couple of years.

The latest Begbies Traynor Red Flag Alert has revealed that the number of SMEs in financial distress has risen by 40% in the last year alone, rising from 176,677 in the second quarter of 2013 to 237,362 today. These SMEs are at significant risk, with a mooted 1% interest rate rise scheduled for November likely to put struggling business in ‘dire straights.’

‘The deteriorating fortunes of SMEs spells bad news for the economy at a time when there are a number of near-term challenges on the horizon for UK businesses,’ said Begbies Traynor partner Julie Palmer.

There are fears that struggling SMEs could become ‘zombie companies’ if financial pressures take their toll, capable of repaying the interest on their debts but not the debts themselves. While the economic recovery is supposed to be making life easier for Britain’s small business leaders and entrepreneurs, this study shows that we aren’t out of the woods yet.

Fortunately, there are other options for those who wish to go into business on their own but don’t want to put themselves at significant financial risk. Becoming an Opportunity Marketing franchisee allows budding entrepreneurs to become their own bosses, without facing the risks associated with starting your own business. If you’d like to find out more about our franchise scheme, contact a member of the Opportunity Marketing team today.

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Ian Kirk

Founder at Opportunity Marketing

Ian is the founder of Opportunity Marketing marketing, with over 18 years of experience in successfully setting up marketing departments, creating marketing strategies and implementing these strategies across a wide number of SME companies in both the B2B and B2C sectors through a variety of channels.

LEEDS CHILDREN’S CHARITY


RESULT: 21% UPLIFT IN FUNDRAISING INCOME AND A MUCH WIDER AWARENESS OF THE CHARITY HAS SAFEGUARDED ITS FUTURE.

 

Scenario

The Leeds Children’s Holiday Camp Association was one of the oldest charities is Leeds, but was struggling to generate funds with low awareness and potential funding grants reducing.

Solution

Opportunity Marketing created a marketing strategy for the charity which involved a complete rebrand and a wider income focus on corporate and individual supporters and donators.

“Opportunity Marketing is a highly creative and inventive marketing company that has produced ideas and a strategy to promote and raise the profile of the business in the most effective manner. We have always found them to be friendly and efficient, whilst giving absolute priority to the best interests of the business.”

Verlie McCann
Leeds Children’s Charity

PRESTIGE COURT

 

RESULT: 70% OCCUPANCY WITHIN 6 MONTHS AND 100% OCCUPANCY WITHIN 12 MONTHS.

 

Scenario

Prestige Court were a newly refurbished office provider on the outskirts of Leeds.  They had failed to fill a single office in 8 months of trading and the financial drain of the empty building on the landlord was reaching a critical stage.

Solution

Opportunity Marketing researched and analysed the marketplace and developed and implemented a marketing strategy to attract and convert a high number of clients to the offices.

“Opportunity Marketing helped us to identify our target market and clearly define our proposition.  I am pleased to say they delivered the results within the promised timescales.”

Pat Gilligan
Prestige Court

STAY SOURCED

 

RESULT: 45% SALES GROWTH OVER THE LAST 3 YEARS.

 

Scenario

Stay Sourced had been trading for three years within very difficult market conditions where many companies had been going out of business.  Stay Sourced were growing at a slow rate (6%) and were relying purely on referrals for new clients.  They needed to be proactive in order to achieve their ambitious growth plans.

Solution

Opportunity Marketing created a marketing plan, which clearly defined how Stay Sourced should be uniquely positioned in the marketplace and how to create a pipeline of new clients in addition to the organic growth it was achieving.

“We are delighted with the results Opportunity Marketing are achieving and, put simply, over the last 3 years, they have become our marketing department.”

Ben Rosenberg
Stay Sourced

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