It’s a tough time to be in business. And especially so if you’re a mature, established business that’s finding it hard to keep pace in the rapidly changing market. As a mature owner, you have experience and knowledge on your side. But you’re also faced with the new realities of transformative AI technology and a global economy that’s increasingly unstable and unpredictable. Why are these challenges so problematic? Let’s look at the potential impact. A new business reality When you started out, the business world was probably a more predictable beast to tame. Technology was here to assist us, not replace us. Markets were more stable and supply chains were reliable. But that cosy existence has changed – and it’s making it much harder to do business. That’s bad news if you’re aiming to: Grow the business and increase sales revenue. Sell the business and get a good return on your investment. Hand the business to the next generation in good shape. The challenges for mature businesses Trading, when the world around you is changing, is difficult. It throws up some specific challenges that could have a major impact on the future of your business. Staying competitive and efficient Cloud tech, automation and now artificial intelligence (AI) have changed the technological landscape. If you aren’t abreast of this technology, you can quickly lose your competitive edge. Planning your strategy The business landscape is no longer stable. Global events can change the economic outlook and the validity of your strategy in a heartbeat, making it hard to plan ahead. Three ways to optimise your business in 2025 To overcome some of the potentially negative impacts, it’s important to remain agile. Let’s look at three ways you can help to embrace the new reality. 1. Champion AI, automation and digital technology Get on board with AI and digital tech. AI can either be your worst enemy or your biggest asset. Fall behind the technology curve and your competitors will overtake you. Embrace the best elements of AI and it could transform your operations and productivity. When used well, and with a proper strategy behind it, AI has the potential to make your business more efficient and make it cheaper to run. 2. Focus on human skills and talent Technology is brilliant for speeding up the running of your operations. But it’s also vital to recognise the contributions of key human skills and the talent of your team and workforce. Your people are the face of the company and a large element in defining your brand. They’re the creative centre, the ideas hub and the humanity that brings your business to life. Never underestimate the impact of real, genuine, human customer service. 3. Balance your use of AI and human skills AI can help to run the business, but you also need a talented team driving the company. The sweet spot is to balance these two different factors making sure you have human oversight over your AI. Maximise your use of AI, software automation and digital technologies, but also invest in people, raw talent and the capabilities that a human team brings to the table. Talk to us about optimising your business If you’re feeling like the business landscape is speeding past you, leaving you trailing in the wake of technological, environmental, political and economic change, you’re not alone! Many experienced business owners are feeling the same way – and have the same concerns around how they’ll be able to sell their business, or pass it on to their successor. Come and talk to the team and we’ll walk you through some simple, straightforward steps to help you change course, optimise your business and embrace the new reality. Call us on 01904 787 973 or book a discovery call with Donald Inglis .

At the early stages of your start-up journey, access to credit can be a lifesaver. Cash flow is tight, customer revenue can fluctuate wildly and large-scale bank loans and external funding may be in short supply. In this situation it might seem counterproductive to apply for a business credit card – a move that adds to your debt level. But, in fact, applying for a company credit card and using that credit facility responsibly can have a hugely positive effect on your ability to fund your growth and access lines of credit. Let’s explore five ways that a business credit card can improve your funding 1. Builds up your business credit profile When you use a business credit card responsibly, and pay off the repayments each month, this starts to build up a credit history for the company. This credit profile is directly linked to your business and is separate from your own personal credit. Having this credit history (and the associated business credit score) is crucial when applying for business loans and accessing future, large credit lines. 2. Establishes you as a responsible borrower Paying your credit card bill on time each month demonstrates your financial discipline and an ability to manage debt in a responsible way. When applying for loans, bank overdrafts and trade credit, lenders want to know that you’re a low-risk business to lend to. Responsible payment behaviour acts as an indicator of trustworthiness for future borrowing and will increase your chances of successful funding. 3. Provides a flexible line of credit Having a business credit card makes it easier to cover your expenses and overheads. A credit card gives you flexible, accessible funds for your day-to-day operational needs. It’s also an excellent way to cover any unexpected expenses or cashflow gaps. Managing this line of credit also prepares you for larger, more formal, credit facilities. 4. Demonstrates a prudent use of credit Your credit utilisation rate is a key metric that credit reporting agencies will be interested in. By not maxing out the available credit on your credit card, and keeping utilisation low, you can show that your business manages debt in a sensible way. This marks you out as a low-risk borrower – a key factor in accessing further credit, business finance and investment.. 5. Acts as a gateway to more favourable terms By being responsible with your credit use, you set the foundations for a business credit profile. A solid track record with a business credit card may lead to pre-approved offers for larger credit lines, better interest rates and more flexible terms from banks. This is incredibly helpful as you scale the business and need additional funding to drive your growth journey. Talk to us about applying for credit and business finance If your startup is in need of an increased cash runway and improved access to credit, applying for a business credit card is an excellent way to improve your financial flexibility. Get in touch Over the years, we’ve grown into one of the leading accountants in York, expanding our range of accounting services whilst staying true to our core values and our force for good ethos. If you would like to talk to the team about ways to embrace this kind of credit then book a discovery call with Donald Inglis .