Thanks to the government’s decision to introduce an employment allowance of £2,000 a year towards employer National Insurance contributions, one in five SMEs in the UK have been encouraged to expand. Recent research collected by Direct Line for Business has also revealed that a further 33% of firms are considering recruiting, due to the reduced cost of employment over the past few months. Construction SMEs, too, stand to benefit.
While these plans are encouraging for SMEs, a number of firms are failing to prioritise business protection, with 68% preferring instead to set growth targets. Builders’ merchants looking to expand this year should be aware of the importance of protecting their businesses to ensure that they have the cover they need should things go wrong. All businesses must be protected against liability or loss, otherwise the decision to expand could be a fatal one for the company and for new and existing employees. Although making thorough plans and setting goals is key to expansion, ensuring you have the right protection in place should be your number one concern.
Builders’ merchants and construction industry retailers can use their point-of-sale software to monitor their finances and determine whether or not they are in the best position to expand. Expanding a company can encourage an influx of business, so it is important to have the right support to enable you to cope with the increased trade. If you’d like to find out more about what Integrity Trader can do for you, why not explore our website in more detail, or get in touch with a member of the team today?
Trader is an easy to use electronic point of sale system designed for the unique requirements of building, plumbing and timber merchants, hardware and DIY stores in the UK and Ireland.
Our team are ready to help with any queries or arrange a demo for you.