Small Business Update from BHP
Information Solutions provides topical articles written for SMEs. If you would like further
information on any of these topics, contact the Institute's Library & Information
Service.
Disclaimer: These publications are for general guidance only, for businesses in the
United Kingdom governed by the laws of England. BHP Information Solutions Ltd, expert
contributors and the Institute of Chartered Accountants in England and Wales disclaim all
liability for any errors or omissions.
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Making an effort to address consumer concerns about where and how products are manufactured can give you an edge over competitors. Kate Horstead looks at the steps you can take to develop an 'ethical' supply chain.
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In the current economic climate, many businesses may find themselves wanting to downsize their operation but committed to contracts with suppliers whose services they no longer need. Getting out of an agreement may not be a straightforward matter. Find out what you need to do if you want to terminate your contract.
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If one of your key suppliers goes bust, you could find yourself unable to meet customer expectations. If the supplier is the sole distributor of a particular product, you might even lose an essential source of income. Find out what you can do to limit the damage to your business.
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The economic downturn means there are a lot of good deals to be had for businesses, from discounts on stock to cheaper insurance. But there is an art to recognising, asking for and securing the best deal, whether that's spotting a potential bargain or renegotiating terms with suppliers. Here are the key steps.
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In a supply chain the balance of power often rests in the buyer's hands, but creating mutually beneficial partnerships makes good business sense. The better relationships you have with suppliers, the more likely you are to get value for money. Find out how to get the most from your suppliers.
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Keeping up the quality of your goods and services is essential to preserve a good reputation and to attract and retain customers. Emma Allen finds out how to maintain high standards in your supply chain
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Could you do better from your suppliers? Experts say saving just 1 per cent of cost can increase profit by as much as a ten per cent rise in sales. But if you’re not your supplier’s biggest customer, how do you get the best deal?
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Negotiating the best possible deal for your business is crucial in the present economic climate. So how do you increase your chances of getting one? Clare Bullock looks at the options