Biggest challenge as a small business owner
The challenges of cash flow seem to be a constant for Peter. He credits his customers with supporting the company by paying up front but now that they are moving onto standard credit terms, they will have an impact on cash flow. Moreover, suppliers have been an impact because they want upfront payment also. So again, the cash flow is always the biggest stumbling block. But after that, he feels it is a case of getting your supply chain to manufacture the components, putting your assembly team into operation and getting things made quicker and out the door.
Peter's views on the digital upgrade happening in the UK
Peter is excited about the digital upgrade because he thinks it will make things faster.
His new digital phone system has empowered him to have his telephone number as a local one, which means he can be associated with an area even if not physically there. He feels digital phones give you more than just convenience; they make your business accessible no matter where in world you are working from! Having a telephone number on your website or social media accounts is important because having one local number gives credibility and visibility!
“Having your telephone number on your website empowers you professionally. For companies with slower internet speeds, this new technology can be lifesaving! He feels that this is a huge win for small businesses! The internet has been cutting down on the time it takes to get things done, which means more productivity and less stress.”