Are you warmed up and ready for 2022? Or maybe you’re still feeling a little out of puff having spent two years balancing work, life and lockdown?
We asked 500 leaders just how fit they’re feeling for business heading into the new year. Of course we were interested in how their numbers are tracking but we know that getting fit for business is about more than just healthy finances. That’s why we also asked small business leaders about physical and mental health as well as relationships, both personal and professional.
Download the full report right now or read on for a sneak preview of what we found out.
Healthy people: self-care and staff wellbeing
What makes a small business? Is it four walls and a water cooler? A great product or service offering? Of course a business is all of these things, but only if there are people to work within those walls, create those products and deliver those services. And actually, if the pandemic taught us anything, it’s that four walls are no longer a requirement.
For many business leaders, having to adapt to new and ever-changing ways of working took both a mental and physical toll. In fact, 75% admitted that the last two years were incredibly stressful – but that they had hidden that stress from their team. Putting on a brave face, they doubled down on their efforts to keep staff motivated with almost a third saying that was their biggest concern.
The vast majority of business leaders ramped up investment in staff health and wellbeing knowing that it would make for a happier and more productive workforce. They also invested time in their own mental health with 73% trying an activity like yoga or meditation for the first time as a way to manage stress levels.
Did we mention that we brought a few friends on board to help us with the report? We’ve backed up our research with some great insights and advice from a team of experts.
Download the report to see what Derrick Evans MBE (AKA Mr Motivator) – the UK’s favourite fitness instructor – had to say about physical and mental health for business leaders
Healthy relationships: connections old and new
We used to think of networking in the context of connecting with people; shaking hands and catching up over coffee. Recently, however, we’ve had to give more thought to the speed of our internet connection and whether there’s time to make tea before the next video call.
Our research shows that time spent alone in recent years has actually meant a new appreciation for connection among business leaders. When they needed business advice from someone they could trust during the pandemic, 66% turned to their accountant. Craving a sense of community as we head into 2022, 64% want to talk to other business leaders about their shared challenges and experiences.
We asked leaders about their relationships with clients and suppliers – their value and how they fared during the pandemic. The report also takes a closer look at the things leaders rely on their accountants for and the topics they wish their accountants would talk about.
Get all the facts and figures when you download the report plus advice from Emma Jones, founder of Enterprise Nation.
Healthy numbers: cashflow, credit scores and more
The pandemic was a time of financial change for businesses across the country. Many saw sales figures plummet as they were forced to close shops, offices and venues. Others saw demand shoot through the roof as their products or services found new relevance. Some even saw the downward trend coming and quickly pivoted to come out on top.
There were changes in the finance options available too, with government funding schemes being introduced, extended and discontinued every few months. Despite all this change, one factor seemed to stay the same: most leaders (58%) need help understanding business finance. In fact, 48% won’t apply for funding in 2022 because of confusion around the application process, the options available and where to go for advice.
The good news is that our report also shows leaders are actively seeking more transparency and control over their finances. They’re keen to get better at tracking their financial health, managing cashflow and improving their credit scores. Business leaders are going for growth in 2022 and the majority know they’ll need funding alongside trusted advice to get there.
Download the report to see what Minister for Small Business, Paul Scully MP, had to say about our findings.
A healthier way to do business
Our priority at Capitalise is to help leaders and their advisers discover a healthier way to do business. That’s why we’re kicking off a full programme of hard hitting research, wellness videos, insight guides and expert advice. We’ll check back in with small businesses regularly this year to get an ongoing view of how their fitness is tracking.
It’s time to get ready and warmed up for a happier, healthier, financially fit 2022. Download the report today.