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4 Out of every 10 Businesses will stay alive

There are 5.9 million small and medium sized enterprises (SMEs) in the UK. Collectively they employ over 16 million people and contribute £2.2 trillion to the economy.

But there are risks in running an SME business. 1,400 of them close each week and only 4 out of every 10 will stay in business for more than 5 years. One main reason is that 3 out of 4 don’t seek external advice for their business.

The key reason is cost – typically an SME who receives advice will pay £2,500 a year for it which is unaffordable for many small businesses who have an average turnover of just £14,000.

But now there is a new way to get advice. BuBul is a virtual room full of 30 business experts who can give an SME the advice they need for their business for only £9.99 a month. You can get more information at www.bubulexpert.com.