Member Article

Reputation management biggest concern for Northern businesses

Small and medium-sized businesses based in the North of England are most concerned about their reputation according to new research.

The research, conducted by Broker Network and Charterhouse Research on behalf of Gateshead based insurance broker, NC Insurance, found that 30% of small and medium-sized businesses listed their reputation as a high or extreme risk to their business, a higher percentage than any other common business concern.

A total of 538 small and medium-sized businesses (businesses with under 250 employees) around the UK were surveyed on the areas of their business that they were most concerned about, with 103 Northern SMEs listing which of 10 common business concerns they felt were a risk for them.

The study also found that changes within the industry was also a common concern for Northern SMEs with 27% of those surveyed listing it as a risk to their business, along with data protection & cyber-crime which was also a concern for 27% of Northern businesses surveyed.

By contrast, legal issues were the least pressing concern for Northern SMEs with just 10% of surveyed businesses perceiving it as a high or extreme risk to them.

These results for Northern businesses closely mirror the concerns of businesses on a national level with 30% of all businesses surveyed perceiving their reputation as a high or extreme risk, making it the most commonly voiced concern for SMEs across the UK.

Commenting on the findings Mark Burdett, Sales & Marketing Director at NC Insurance said;

“These findings show that reputation management and the way others perceive their brand is extremely important and because of this, it’s crucial that they take care to manage their image. Taking care of customers and providing the best possible service is vital as this ensures that the only talk about their business is positive. Conducting professional risk management surveys of their business will also help them avoid the sort of health and safety incidents that can lead to bad publicity while having access to legal advice and crisis management is crucial for diffusing situations that could otherwise be reputation-damaging.”

This was posted in Bdaily's Members' News section by NC Insurance .