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business focus 15


Chartered accountants Haines Watts presents a series of articles based on its blogs. It offers analysis, reviews and comments and welcomes your feedback at www.hwca.com/blog


of the month


What industry standards mean for SMEs writes Jane Wills, partner at Haines Watts


If you are an SME you know that you have to work much harder than larger businesses when competing for the same clients and contracts. That’s where implementing standards comes in. Industry standards and accreditations inspire confidence and credibility. They set you apart and can be a vital tool for winning work.


Standards provide SMEs with knowledge and guidelines to help fine-tune the business, so that it performs in line with best practice. By adhering to standards SMEs can clearly demonstrate the quality of their products and services, which can help attract new customers and retain existing ones.


Standards add credibility to a business and instil confidence that what is being offered is safe and


reliable. In the service industry this is particularly vital. Standards provide a practical set of tools that help SMEs achieve consistent quality across their operations.


Standardisation also provides access to new knowledge on market trends, best practices and latest technologies. This reduces the resources SMEs need to allocate to research and development. When combined with the agility and flexibility of an SME, this can provide real competitive advantage.


Efficient project management is crucial when managing a supply chain and more so when this is global. Standards can help ensure that the best methods are employed for getting jobs done on time and to budget.


Too many SMEs take a reactive TVT&D joins 4C Bucks membership


network to support voluntary sector Thames Valley Training & Development (TVT&D) has become a member of the charity and voluntary sector representative body, 4C Bucks, to help deliver corporate social responsibility activities and benefit organisations across the county


TVT&D provides professional training and development products and services to individuals and organisations. Founded in 2012, TVT&D is a subsidiary company of Bucks New University in High Wycombe and has become an established provider of professionally accredited training courses throughout the Thames Valley region.


TVT&D’s managing director, David Podger, said of the new membership: “TVT&D is proud to become a member of 4C and all that it stands for. As a company we believe we have a social responsibility to share our skills with organisations that will benefit from them, and through working with the experts at 4C we hope to identify worthwhile causes that we can support.”


Based at The Clare Foundation in Saunderton, near Princes Risborough, 4C acts as a connector


would benefit from their professional courses. We know it will be a very successful relationship.


"4C already has a strong relationship with Bucks New University and so we are delighted to be working with TVT&D as it gives us access to a completely different skill set.”


TVT&D offers courses in the areas of accountancy & finance, IT, law, business, management and sales & marketing, which are taught at its town centre location at Bucks New University's High Wycombe campus and in Slough, with some corporate clients opting for in-house delivery for their staff. All courses are professionally accredited and taught part-time, running throughout the year during evenings, weekends and afternoons so that learners can study alongside their work commitments.


Bekki James and David Podger


between businesses and the charity and voluntary sector to help achieve specific goals and projects for the benefit of Buckinghamshire residents. 4C aims to understand the charity and voluntary sector requirements and match these with local businesses that can support them.


THE BUSINESS MAGAZINE – THAMES VALLEY – MAY 2014


Bekki James, manager at 4C Bucks, said: "We are looking forward to working with TVT&D on many different levels, including engaging its staff in local community projects, utilising their professional skills to benefit the sustainability of our charities, and raising their profile with our business organisations which


Details: David Podger 01494-603060 info@thamesvalleytraining.ac.uk www.thamesvalleytraining.ac.uk


approach to risk. Whether it be an IT security breach, a supply chain failure or extreme weather – being unprepared can cripple a business. Risk management standards can provide a better understanding of the potential impact and give a framework for planning to mitigate risk and build a more resilient business.


Recent figures by the CBI suggest that SMEs are 11% more likely to survive if they export. The Haines Watts’ ‘Growth’ survey* shows that there is a definite appetite among SMEs to expand abroad, particularly in Europe. The use of European and internationally-recognised standards aids access to global markets. It


helps SMEs with both marketing and acceptance of products.


Industry standards provide a set of powerful business and marketing tools. They help embed quality processes, systems and behaviours; they can reduce risks and provide assurance for customers – all of which are vital for helping SMEs seize opportunities at home and abroad.


* Details on the Haines Watts’ ‘Growth’ survey: www.hwca.com/ blog/p/growing-a-successful- business-is-about-more-than-the- bottom-line


Details: www.hwca.com


www.businessmag.co.uk


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