Unhappy customers are ten times louder than happy customers. You should view every single complaint as an opportunity to improve your company, not a threat. Maybe the client is wrong, but that doesn’t mean he can’t complain and talk about it. Win that customer over, again.
Everyone runs all-around all day long but at the end of the day, they don't make any or make very little profit. How is this possible? The answer is simple and obvious.
One of the first moves that entrepreneurs make when they find themselves in a difficult position or situation is to reduce wages, make redundancies, or both.
Speed is important but requires proper organizing so as not to backfire. A business with problems in terms of organization, personnel, procedures, and cash flow, can easily make a situation even worst if it tries to become quick simply for the sake of speed.
CBDC stands for central bank digital currency. It’s digital money a country’s central bank can issue alongside cash. If we introduced one, we’d call it the digital pound.
Our issue here is not the income or expenses but the processes of a business, an area where very few entrepreneurs give the necessary importance but which affects the company itself, its staff, its customers, sales, a lot more than you can even imagine.
All entrepreneurs face various problems but if you gave them the option to solve only one, it would be sales. Everyone would like more sales and would choose to solve this issue than any other they face or will face.
I have no doubt that small businesses are necessary but I have some doubts about their ability to offer more to the economy depending on their size and number.
Unless this conflict escalates to a World War where every further analysis will be redundant and irrelevant, the outcome of this war, I believe, will make us all, in the long term, better and stronger. Including Business.
The ‘people’ element is tricky. A single ‘person’ requires psychology to understand but when you add a lot of ‘persons’ you get a team, and the team often needs a different approach, most easily understood with the study of sociology.
Everybody is trying to make sense of the phenomenon of more and more people resigning from their jobs, especially since the start of the pandemic. Is it a response to the pandemic, a change in culture, is it time for a break, the employers’ fault, the employees’ fault, the Governments’ fault?
We help the UK to manage the risks that climate change brings and we support its move to net-zero.
We continue to monitor the economy and global events carefully when making rate decisions.
Find out about inflation and how it is linked to interest rates.
Money management and business dealings that are compatible with Islam
The Covid (coronavirus) pandemic shook the UK’s economy. We’ve been helping to keep it stable by supporting businesses and jobs.
Although we’re a public body, each year we give around £350 million back to the public through HM Treasury.
Capital is another name for the financial resources a bank has that act as a cushion or shock-absorber against unexpected losses. For example, if someone fails to repay their loan.
What will the future of work mean for you?
How we pay for things, and even the concept of paying, have developed over 11,000 years.
See how yours compares to the rest of the country
The PRA supervises about 1,500 financial institutions, including banks and insurance companies
A way of storing value electronically outside of centralised systems and away from regulators.
While rare serial numbers often generate interest, banknotes will only ever be worth their face value to us.
Cyber-attacks are becoming more frequent and advanced. Here's what you need to know.
Insurance provides protection against financial loss for people and companies.
Whether you’re buying groceries or a laptop, paying by card only takes seconds. Here’s how the money gets from A to B.
Most of the money in the economy is created by banks when they provide loans.
Falling prices are not always cause for celebration.
There’s a network of systems that make payments possible. These are known as financial market infrastructures – or FMIs for short.
The short answer is: supply and demand.
We aim to keep banks safe, but of a bit of healthy competition can be a good thing for consumers.
The three largest risks banks take are credit risk, market risk and operational risk.
We want to keep the financial system stable and individual banks safe.
We mostly print money to replace old, worn-out banknotes. But it’s also up to demand.
If we look at how much British households borrow, more than seven out of ten pounds are for mortgages.
House prices affect how much money people spend. They have tripled since the late 1970s.
Our new banknotes are made of polymer because it is cleaner, safer and stronger than paper.
We make an appearance in literature as a setting, an institution and even a character in itself.
Climate change poses risks for the stability of the financial system, particularly for the insurance and banking sectors.