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At Branston Adams we can provide businesses in the Surrey area with assistance and advice on a wide range of business issues. Here are ten reasons to benchmark your business...
More and more businesses are discovering the benefits of benchmarking and of developing a plan of best practice. Is it something that your business could consider?
In a nutshell, benchmarking involves measuring the performance of one's business against that of others in similar markets. It has been described as "the practice of being humble enough to admit that someone else is better at something, and wise enough to try and learn how to match and even surpass them at it."
A good benchmarking review will allow you to determine how well each aspect of your business is faring, discover areas where you need to improve, and develop a plan for achieving those improvements. Before you can decide where you are going, you need to know where you are now - and benchmarking can help you do this.
The Government-funded Small Business Service cites ten key reasons for implementing a benchmarking process for small businesses:
If you are in the Surrey area and would like professional assistance from experienced accountants and business advisers, contact Branston Adams.
15 Nov 2019
UK taxes are at a historical high, accounting for over a third of GDP at 34.4% and up almost seven percentage points from the 1950s, according to a new Institute for Fiscal Studies (IFS) report.
14 Nov 2019
Pension scam victims could lose 22 years of savings in 24 hours, according to the Pensions Regulator (TPR) and the Financial Conduct Authority (FCA).
13 Nov 2019
Next year's expansion of the off-payroll rules into the private sector should be delayed, according to the Federation of Small Businesses (FSB).
Get in touch with Branston Adams to arrange your free consultation.