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two years. Ian Wright, chief executive of the Food and Drink Federation, has even indicated that some shortages may be here forever, with a “permanent” reduction in choice.
Know your supply chain Despite these ongoing issues and the signifi cant impact they have on business growth, very few SMEs fully understand their supply chain. Over a third of UK SMEs (38%) only
know their direct suppliers and customers. Two out of three business leaders (65%) have never conducted a supply chain audit or put a contingency plan in place. The ability to plan ahead to counter the
impact of delays is crucial for businesses, so a limited awareness of supply chains
leaves a signifi cant proportion of UK SMEs vulnerable.
Complex issues A number of complex issues, such as the pandemic, skilled labour shortages and Brexit have left many businesses without the resources required to deliver on their ambitious growth plans. As our research shows, this has already had
a signifi cant fi nancial impact for many UK SMEs and all indications are that ongoing delays need to be considered as part of the ‘new normal’. SME business leaders can benefi t from a
greater understanding of their suppliers and customers in order to gauge the challenges that might eventually have a knock-on eff ect on their own business. We know that SMEs are known for their
agility and adaptability, fi nding solutions despite a challenging environment. We have seen this particularly during the
Covid-19 pandemic. At Aldermore, we work closely with our
SME customers to support them, helping them to access specialist funding solutions which can help bridge the gap when they are faced with delays or other uncertainty.
For mighty businesses Aldermore recently launched its ‘For mighty businesses’ campaign, profi ling stories of its SME customers who are looking to grow their business in a rapidly changing world. Rory Walker, COO of Secureshield established his business in March 2020 and
June 2022
We know that SMEs are known for their agility and adaptability, fi nding solutions despite a challenging environment. We have seen this particularly during the Covid-19 pandemic
www.CCRMagazine.com
began to feel the impact of global supply chain issues. The specialist components needed to install electric charge points, one of the business’ focuses, became scarce due to the international ‘chip shortage’ and global slowdown in component production. Mr Walker said: “If someone asks you to do a job and you don’t have the people or the kit, you’re not left with much to get the job done.” However, with the support of Aldermore,
Mr Walker and his team were able to navigate these challenges and are now actively working on their growth plans. CCR
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