Whether it was royal weddings, sporting endeavours or record-breaking weather, 2018 was a year of big news stories in the UK. But it was also a time of economic uncertainty, with many businesses (particularly SMEs) facing some difficult challenges, created by a number of wide-ranging factors. But what many of them have in common is that they were tackled with the help of telecoms.
Economic and political uncertainty was rife
There’s no denying that 2018 was frequently an unsettling time for UK businesses, with Brexit negotiations ongoing and no real end in sight. Chancellor Philip Hammond openly admitted uncertainty around Britain’s departure from the EU has damaged economic growth. This is because many businesses are keen to wait until details of the transition are secure before investing or committing to long-term plans. Though it makes sense to be cautious, it does mean businesses have found it difficult to successfully predict their own profit and growth.
To help them budget effectively and grow without significant financial investment, some businesses looked to more flexible, scalable services. For example, many have shifted to easily scalable cloud-based solutions like hosted telephony. This has given organisations the ability to grow their operations and meet demand, without large up-front capital investment and without being tied in should they face a downturn in the future.