The past couple of years in terms of business and the economy have been somewhat difficult to manage for many business owners. However, there are many ways that you can get around this, especially if you want to lay the foundations for a strong business. Avoiding common business mistakes and being more careful when it comes to your business decisions is essential if you want to keep your business thriving throughout 2024. Here are some key business mistakes that you cannot be making in 2024 if you want to have a strong business for the future. 

Ignoring Business Development Funding

One of the worst things you can ignore when it comes to your business is not taking advantage of local funding that could help your business develop and grow. For instance, if you want to upskill your staff, many local authorities that are part of the government could be funding qualifications and training for your staff. Looking for business development funding in your area is one of the best things you can do, as well as asking people in your local network. This funding is often advertised online, so make sure that you’re looking for it. Many industries could benefit from this – in the UK, everything from construction NVQs to health and safety qualifications are being funded. Make sure you’re taking advantage of this funding to develop your business.

Neglecting Digital Marketing 

Most businesses are investing in digital marketing in some form – and it would be a huge mistake to ignore it completely. Your company may not need to have a TikTok presence or start posting memes, but you should at least have a website and invest in search engine marketing. Many consumers now find businesses through online search, so it’s not something that you should be ignoring. You could be losing lots of business to your competitors by refusing to get some sort of digital presence – it is not a mistake you should be making in 2024. Start digital marketing today if you want to grow your business and avoid a massive business mistake. 

Not Planning For The Future

If there’s anything that the past couple of years have shown businesses, is that unpredictable events can change your business forever. This means that you need to be planning for the future where possible, so your business can continue no matter what happens. For example, having a remote working plan in place will allow your company to continue if the world needs to go on lockdown again. Consult your accountant and make sure you’re planning for future events that will help you future-proof your business. 

Ignoring News In Your Industry 

One of the worst things you can do if you want a strong business is to ignore news in your industry – paying attention to what’s happening is one of the best things you can do to stay ahead of the curve. For example, many construction businesses have been caught out by the ending of industry accreditation for CSCS cards – which has halted many of their daily operations. Ensuring that you’re paying attention to industry news will help you be prepared, preventing you being caught out in the future.