Small Business News: 20 January 2023

This week’s SBN roundup includes the start-up helping companies find the secret to happy employees, and why brands should consider their sustainability claims very carefully.

A start-up is promising to help companies monitor employee morale for a more productive workplace. Founded during the pandemic, employee assistance platform Mindtera¹ uses data-driven insights to manage development, engagement and well-being. It has two platforms: Mindtera Pro, a dashboard and app with assessment tools to collect employee feedback, and Mindtera Plus, which connect companies with coaching and development consultants who can help them overcome workplace culture issues.

Users of the platform benefit from real-time monitoring on how engaged employees are; whilst employees receive support for issues in their personal lives, like finances and relationships.

“Investing in human capital is tricky,” CEO Tita Ardiati said². “The benefits are not immediately visible, but the company will see a sustained impact if [it] builds a balanced and healthy working environment. Human resources are a valuable asset for a company’s growth. Happy people inspire growth, so look after your people, and you will see productivity.”

The Indonesia-based company is mainly focused on the B2B market, but also provides a self-service platform for SMEs. Currently, it serves over 10,000 employees in Indonesia, but has recently raised significant funding to expand globally. Watch this space.

Adobe Analytics has unveiled its 2022 holiday spending report³ – giving insights into which consumer trends are likely to shape the e-commerce sector this year. The platform tracked 1 trillion visits to US retail websites over the peak Thanksgiving to Cyber Monday trading period. The key findings include:

• Mobile commerce continues to grow: 47% of online sales were made on a smartphone (up from 43% in 2021)
• Buy Now Pay Later orders rose 4% over 2021, though revenue decreased 2%, “indicating shoppers are increasingly using BNPL for smaller shopping carts”
• Paid search remained a valuable marketing avenue for retailers, driving 29% of online sales, followed by direct website visits (19%) and organic search (17%)

What other e-commerce trends should your online business be aware of? Discover will always have the answers! Make it your go-to for the latest industry insights, analysis and guides to help your

Sustainability is increasingly important to consumers, but many are sceptical that businesses are “greenwashing” – that is overplaying – their eco credentials. Sensu Insight research⁴ found that just under a quarter of Britons take the environmental claims of brands at face value, whilst 71% of respondents believe they go unchecked by independent parties. As a result, many are reducing their spending with certain brands.  

“The result of our survey reveals a society sceptical of the motivations of businesses,” said Steve Leigh, Sensu Insight’s managing director⁵. “We are increasingly living in a cynical age where accusations of ‘fake news’ make us more likely to question everything that we hear. When such suspicions are amplified through social media, it can feel like every ‘fact’ is being challenged and undermined.”

To demonstrate their authenticity, brands “need to communicate with transparency and honesty. Ensuring that all messaging is consistent and backed by independent evidence is important.”

“The most effective communications are also often reinforced by authoritative experts and reflected throughout all of the organization’s operations. Finally, it is crucial to listen carefully to how stakeholders respond, taking on board and adapting to areas of improvement.”

Insights in Marketing recently explored why Gen Z use Buy Now Pay Later services more than any other generation.

The company surveyed 1,000 people aged 18-25 and found one in five had tried a BNPL fintech app, whilst 80% of these had used BNPL more often in 2022 than in 2021. The leading reasons respondents cited for using one of these payment services were to avoid credit card debt and fees, to receive merchandise immediately, and to stretch limited budgets.

The most popular apps are Afterpay (used by 58% of respondents), Klarna (44%), and Affirm (29%). All of the respondents discovered BNPL lenders during the online checkout process, though many sought word-of-mouth recommendations from friends and family before proceeding to use them.

So, is a BNPL option a good fit for your business? Find out with our exclusive guide to the leading online payment methods.

In January 2022, PwC surveyed business leaders in select supply chain-intensive sectors about their main priorities over the following 12 to 18 months. “Increasing efficiency” and “managing or reducing costs” across operations were the leading answers amongst respondents, at 63% and 59% respectively. So, what technologies are emerging to help them do just that?

Our dedicated article explores the answers. From the rise of indoor mobile robots to the benefits of using artificial intelligence for employee development, check out the innovations which have the potential to transform your business in the near future.