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Inspira, breathing life into business

September 2015



With summer now fading into a distant memory as the kids go back to school and small enterprises up and down the country knuckle down to business, we thought we’d address a challenge that few people feel they can talk publicly about for fear of losing customers. For many small business owners, it remains one of the biggest problems they face. The issue is late payment and the perennial challenge of chasing unpaid invoices.

A typical small business spends an eye-watering 130 hours per year chasing invoices. This is unacceptable. If only those valuable hours could be spent growing the business or investing in developing staff rather than wasting valuable time trying to get paid!

If you have ever struggled with late payers – no matter how big or small the debt – we have some tips on what you can do to solve the problem.

We also look at ways you can get your staff more motivated and engaged with your business. Research has shown that the more enthusiastic and driven your staff are, the happier and more productive they are likely to be.

And the good news is that motivating staff needn’t cost the earth. It is not necessarily about upping salaries or offering bonuses – there are a number of simple, effective, low or no cost things you can do to make sure your staff are happy, engaged and as productive as possible.

How to avoid the late payment trap

The small business Minister Anna Soubry recently said that it’s completely unacceptable late-paying companies are stifling growth and productivity for small businesses. Here at Inspira we couldn’t agree more. We have some useful tips to help you tackle the problem once and for all...

The low down on working with a debt collection agency

Dealing with late payment can be frustrating, stressful and time-consuming. If you are constantly facing the challenge of trying to get invoices paid, one option is to enlist the help of a specialist debt recovery business. We’ve spoken to a firm of expert solicitors who provide legal advice and assistance to business owners struggling with late or non-payers...

Ten ways to motivate and engage your staff for maximum returns

Your team can make or break your business. If they are motivated and love what they do, they’ll work hard to grow the business. If they don’t, it can be hugely detrimental to your business’s success. Here we explain why it’s crucial to motivate key members of staff...

"To be successful, you have to have your heart in your business, and your business in your heart."
Thomas J. Watson (1874-1956) Former chairman of IBM

Some useful articles we have read over the past few months…

Some interesting articles we have read over the past few months…

How to stop micro-managing your team

How to prevent common small business payroll mistakes

Here’s how to work at peak performance

The fabulous forties – the perfect age to start a business


Middlesex University recently launched its SME Growth Club to help ambitious small and medium sized businesses access advice and support to develop and grow.
It is holding a workshop on: ‘Financing Growth for SMEs’ with the aim to provide business owners with practical support on how leveraged financing can help develop your business, identifying the right sources of funding to meet your requirements and how to attract and nurture financing relationships.
Date: 14 October 2015
Time: 9.00am – 12.30pm
Venue: Middlesex University, The Burroughs, London NW4 4BT
Cost: FSB/Chamber Member rate £25 + VAT, Non-Member rate £50 +VAT
Book your place now here or contact Sandeep Patel, Business Relationship Manager at Middlesex University on: 020 8411 5050 for more information.

For business owners planning to change direction or retire, the SME Growth Club is also planning a practical workshop on how to successfully exit your business. This takes place on 11 November 2015, 9.00am – 12.30pm at the venue above. For more details, email the events team or call: +44 (0) 208 411 5050.