In the current economy as an SME, a lot of emphasis is placed on investing in virtual services and systems. Everything is online, so it makes sense to place your focus in that area.
However, there are still substantial gains to be made from physical investments, so it is important not to discount them altogether. Here are five physical assets that are worth investing in for small to medium-sized businesses:
1. Innovative Branding
Innovative branding is so important when it comes to remaining current at any stage of business. Physical items like media walls, brand color-themed in-office furniture and marketing, and even a cheeky range of on-brand merch are all strong contenders for savvy business investments this year.
2. Traditional Security Measures
Cybercrime accounted for $2 trillion dollars worth of business losses in 2019. Those figures (and many other statistics) tell us that online security needs to be prioritized. However, physical security is still very important.
If your business is a physical business, or you have physical stock, do speak to a security company near you and consider investing in a day and night security system. If your physical business is protected 24/7, you will have peace of mind, which can be invaluable when so much is uncertain as an SME.
Biophilia is an aspect of office decor you are likely to see all over design inspiration websites throughout this year and beyond. It may seem like a passing trend consisting of hanging plants and giant jungle ferns about a working space, but there are real benefits to your staff.
Various studies detail how beneficial plants are in the office. One even concluded that employees who had just a few small plants on their desks enjoyed a significant reduction in anxiety levels because of this green addition to their working space.
Investing in this kind of wellbeing-focused design could be a real hit with your employees and overall brand image. Even if you can’t afford a total refit at this time, buying a few small plants for your working space could start that biophilia ball rolling.
4. Remote Working Equipment
Any SME should have remote working on their radar if they are forward-thinking.
Studies show that 78% of businesses see flexible schedules and remote working as an effective way of increasing employee retention. Nearly 85% of workers also say that in a decision between companies to work for, the ability to work remotely would be the deciding factor.
For a remote workforce, the right virtual environment is important, but so is physical equipment. Laptops for staff to loan out are a great idea, as well as home office equipment like ergonomic seating to help with employee wellbeing. Supporting your remote workers with physical items ensures you can be more successful going forward into this more flexible working world.
5. A Professional Space In Which To Work
Yes, the remote working world is an important area to invest in, but your physical space is important too. If you can’t afford a full-time office contract, consider a serviced office lease or dedicated desk rental for at least a few days a month.
There are great benefits to doing this, including having a place for collaborating with potential partners, clients, and investors.
Our ideas above are just some of the many physical assets your SME could invest in successfully this year. With the right research and consideration, you could make a huge impact on your business success, in some cases, without spending much at all.