New Dial-A-Business-Expert Service Aims to Save Struggling SMEs
A new dial-a-business-expert service could be a lifeline for struggling small and medium-sized enterprises (SMEs) seeking professional advice. This comes as the government endorses business mentoring, and nearly 200,000 companies were struck off Companies House in the past year, many with growth potential.
Professional business mentoring can significantly boost a firm's performance and growth. The Association of Business Mentors (ABM) connects experienced mentors with businesses and individuals seeking support. Mentors offer impartial guidance, fresh perspectives, and development opportunities beyond internal networks.
However, there's a shortage of professional business mentors to meet the demand. The ABM encourages talented business people to consider mentoring as a career option. Many businesses face challenges such as cash flow crunches, policy changes, and low business confidence, making mentoring increasingly vital.
The ABM aims to widen access to professional business mentoring, supporting businesses to navigate challenges and grow. Despite the government's endorsement, mentoring needs to become ingrained in the UK's business culture to fully harness its benefits.
