Purplex: A tough Budget, but opportunity still knocks

Incoming governments, especially those with significant mandates, inevitably come into power on a tidal wave of optimism coupled with hope that ‘Things can only get better’. Andrew Scott, MD of construction-focused, full-service agency Purplex, talks…

“Certainly, that was the message pushed by the Blair administration when it arrived in Downing Street in 1997. Fast forward to 2024, though, and the vibe from Keir Starmer and company was ‘Things won’t get better – in fact they may get rather worse’.

Well, at least he didn’t lie. But that’s about the only thing UK businesses large and small can take comfort from following the recent Budget. We knew it wouldn’t be great for us; we just didn’t know how ‘not-great’ it would be!

The rise in the cost of National Insurance is a real crusher that will inevitably freeze recruitment and pay rises and, to some extent, put paid to the notion of entrepreneurism. Coupled with an increase to the minimum wage and changes to employee rights from their first day in the job, this Budget falls heavily on the shoulders of all business owners from the local hairdresser to the biggest multi-national. And now we have a Trump Presidency, which could affect transatlantic trade significantly.

However, this is where I’m going to stop moaning. We might be down, but we’re far from out. Good businesses thrive on adversity because they know that it brings opportunity. Complacency is the enemy of the entrepreneurial mindset and when challenges come, smart businesses pivot to take such challenges into account. 

How do we do this?

Well, we have until April 2025 to get ourselves prepared for the changes so the time is now ripe to get into gear and try to mitigate the potential difficulties. My response would be:

1: Focus on growth – with profits being raided for tax, companies must drive revenue lines to make up the difference. Look for new opportunities, new clients and new markets. Go all out to secure contracts and thrive on competition.

2: Focus on efficiency. Where and how can you save money? To my mind, efficiency means making sure that all your staff are super-productive and that your systems and processes are as good as they can be. Look at the long term, and decide what you can be better at.

3: Focus on outsourcing elements of your business. Now is the time to concentrate on your core business, so consider partnering with specialists with more expertise, efficiencies and performance.

Marketeer’s heart

This last point is particularly close to my marketeer’s heart. Time after time, I’ve seen firms struggle along with one or two people trying to do any number of varied and highly specialised marketing tasks in the hope that something might bring in business. And at the same time, technology is advancing rapidly, meaning that non-specialists are always playing catch up.

Of course, you could hire a team of specialists, but given the changes in NI contributions, is that a wise thing to do, especially when in uncertain times, marketing is your saviour? Now is perhaps a good time to consider outsourcing some or all of your marketing tasks to a full-service agency like Purplex. They will deal with all the issues that an in-house marketing team encounters, except that our talents, skills and experience aren’t stretched to breaking point. Agencies have the resources to put their every effort into your existing marketing campaigns while constantly seeking ways to find new leads and highlight your successes. 

We can also partner alongside your existing marketing team to help take the pressure away from them in any number of tasks that time or lack of resources make difficult. Again, this enables them to concentrate on core activities, breathing new life into their creativity while we help to take your marketing strategy to the next level. 

Outsourcing

Outsourcing some or all of your marketing simply makes economic sense, particularly in uncertain times. By using an external agency you will enhance your competitive edge while not having the pressure of keeping up to date – because that’s what we’re here for. An agency like Purplex understands your sector from top to bottom and has the resources to deal with all its marketing challenges and complexities. In a nutshell, we can help relieve your marketing headaches, leaving you free to build your core business for ultimate success.”

For more information about Purplex and how our team of marketing specialists can help you to stay ahead of the curve in 2025, contact www.purplexmarketing.com/contact

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