Young businesses will often find that they have a quiet few weeks in the summer. Trading slows as everyone heads off on their holidays, leaving you free to redouble your business efforts for the year. This time is precious and if used effectively, it can set you up for the year of trading ahead. Here are some tips for what to do with your downtime this summer:

1. Learn

Learn something new. Start the autumn with a new skill to offer your your business, or customers. Learn how to do online advertising, accountancy or how to build your website. Adding strings to your bow is much easier when you have some time away from trading.

2. Research

Staying competitive is important for any small business. You can use quieter time to do some market research and see what your competitors are doing, what the upcoming trends in your sector are, or indeed to put some thought into how you’ll keep your product/service innovative and excited for another year. This thought and research time is vital to the health of your business.

3. Apply for a loan

If your new business wants to scale up, pivot its offering, or take on new staff, the Croydon Loan Fund can help. With plenty of time for paperwork, summer is the perfect time to apply for a loan that will help your business expand in the autumn.  For more information on the Loan Fund, and to find our enquiry form, visit www.croydonloanfund.co.uk

 

The summer is full of opportunities to help you support your business throughout the coming year. Make sure to make the most of yours!

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