Cashflow Issues Top SME Concerns

31 May 2019 | 05.42 pm

Cashflow Issues Top SME Concerns

Biz Expo organisers say social media marketing also an issue

31 May 2019 | 05.42 pm

Getting paid on time by customers and clients tops the operational concerns for SME owner-managers, according to a new survey.

Ahead of Biz Expo at Citywest Convention Centre on Thursday June 6, the organisers surveyed hundreds of the delegates and exhibitors.

The straw poll revealed that the number one concern facing the majority of SMEs is irregularity in incomes received and the difficulties that can incur as a result.

Sharing her experience after her company went into liquidation, one manager commented: “There’s more and more money in the country, but this doesn’t filter down to everyone. Our debtors were in the same situation, and when one of our clients was unable to fulfil on their fiscal obligation, this has a knock-on effect that eroded our ability to balance our books.”

Other issue identified in the survey include:

Brexit Many SMEs report that the uncertainty caused by Britain’s vote to leave the EU has resulted in issues securing funding, as well as cautious spending in various targeted markets.

Marketing  A large number of the business owners questioned cited marketing as real concern. Finding the right clients and negotiating social media were reported as some of the main issues.

Time  The survey results revealed that managers are being stretched thin when it comes to time management. Many business owners admitted to finding it difficult to take time off.

Staff Managers cited hiring and retaining good workers as a struggle. Sales staff and employees with coveted skillsets are being poached by competitors or larger employers.

Biz Expo is billed as Ireland’s leading SME networking exhibition. The exhibition hall features c. 100 companies showcasing products and services, workshops, talks and seminars.

Attendance is free after registration.

Photo: Biz Expo organisers Kevin Branigan and Bronagh Cotter

 

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