Investing in business critical areas can eliminate SME productivity challenges

SMEs facing capacity and productivity challenges need to take a considered look at their current operations to identify the business critical areas that they should be investing in, according to GIC Capital.

Recent research shows that it’s a problem that’s facing many SMEs across the UK, placing their goals and long-term plans at risk.

According to research from Opus Energy, just 14% of UK SMEs claim that productivity is not an issue, highlighting the extent of small businesses that are affected.

Incentivising staff to ensure that productivity remains high is a challenge but with carefully selected investments, it is possible for SMEs to boost their output, earning a significant return on investment, GIC Capital explains.

Kennedy Zvenyika, Managing Director of GIC Capital, said, “Finding, hiring, and retaining the best talent in the industry is no small task for businesses but it is possible for them to compete.

“Implementing competitive remuneration packages when filling vacancies can help give the business an instant productivity boost, particularly when the post holder is in a position of influence to spur on other employees.

“It’s also important to note the impact equipment, software, and other assets have on the productivity of a business as a whole. If your team are using outdated equipment or don’t have the right digital tools at their disposal, it can have a huge impact on your capacity and output.

“For SMEs it can be a challenge to raise the capital they need to invest in these areas that have the potential to propel them to new heights, but lending can provide them with a solution.”

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