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There are now over five and a half million small companies trading in the UK (over a million more than were trading in 2010), with government figures showing that SMEs now make up 99% of the country’s businesses.
Whilst the nature of every small business can vary enormously, the progression of each one towards business success typically remains the same, enabling experts to develop models of the business lifecycle which afford every company the same expectations in their progression towards business success.
First stage – start-up
Immediately after you launch your company, you will inevitably need to spend time trying to get enough customers and clients to make your business viable. This is the time when you, and any staff you may have, need to be willing to do anything and everything in order to keep the company going.
As time progresses, you will need to adapt your strategy based on your experiences and client feedback in order to boost your business and ensure you have sufficient income to keep the company afloat when your start-up capital runs out.
Second stage – establishing your business
Whilst the main thrust of this stage is still survival, it is also a time to start looking ahead. And the better your company is doing, the more you need to start planning for the future, whether anticipating the need to replace or repair capital assets and IT, plan for new staff, or develop new products and services.
The timescale for being in this second stage is up to you. It may well be that you have no interest in taking the business further than providing you with a good standard of living – like the so-called ‘Mom & Pop’ stores which typically close down when Mom and Pop retire. Or you may want to make a go of it, and continue to develop the company, expand your offering, take on new staff and look forward to bigger profits that will enable you to grow the business even further.
Third stage – success
A stable and profitable business = success! But even now you have a number of choices. You could continue running it as it is, hire staff to take over some your responsibilities and focus on maintaining the status quo, you can actively choose to grow the business or you can sell the business as a successful going concern.
If you are planning further expansion, this is a good stage to disengage yourself from the day-to-day running of the business so you can concentrate your talents on expansion and looking for new opportunities.
Fourth stage – growth
Operational and strategic planning are essential if you want to expand your business. For this stage to succeed, you need to ensure that the basic business continues to be profitable whilst you plan your growth strategy. This means appointing effective and trustworthy managers to run the business whilst you are busy planning the next phase and bringing in new systems to help you manage the expansion.
Fifth stage – maturity
A mature company has enough financial resources, the right level of staffing and extensive systems to enable it to function successfully. However, if your company is to survive going forward, you will need to retain the entrepreneurial spirit that made it so successful in the first place to avoid stagnation and risk going backwards.
These days, the success of any business, however large or small, relies on an excellent IT managed service provision. As you take your business forward, having the right IT infrastructure, which not only has robust security but also keeps you ahead of technological progress, is vital. Contact us to discuss how you can future proof your IT requirements.
Lumina Technologies have taken the time to understand the requirements of our business and work as our strategic IT partner, enabling us to concentrate on delivering a high quality service to our clients and focus on our growth strategy. They have delivered a 100% cloud solution to our business with no underlying infrastructure costs or maintenance, which gives us scalability for our planned growth. It also means our business critical applications and data are securely accessible from virtually all our user devices. Lumina’s professional approach and strategic expertise is highly valued and their management of our IT – based on their in-depth knowledge, leaves us confident that our systems are available 24×7.
Luke Harrison
Keidan Harrison LLP
Lumina have supported us so well through the difficult circumstances of 2020. They worked extremely hard to ensure we were able to work remotely and continue to operate our business successfully. The support team are very friendly and knowledgeable, and have excellent response times.
The team have also enhanced our cyber security which is so important in the legal sector, and they continue to provide high quality advice to help us move forward with our IT goals.
Robin Illingworth
Managing Partner, Adams & Remers LLP
The quality of IT Support provided by Lumina Technology is of the highest standard and is complemented by effective client liaison with impressive response times. Trap Oil Group plc has no hesitation in recommending Lumina as a dedicated and specialist group of IT professionals.
Martin David
Technical Director, Trap Oil Group plc
Richard and his team are a real inspiration to anyone who meets them and I have watched Lumina’s growth over the last few years with interest and admiration. Richard has been an amazing supporter of the Hospice of St Francis, being a Gold member of the Corporate Partner Network for almost two years. He takes an active interest in the community and is passionate about his company and his town: nothing is too much trouble, he is always willing to help, to give up his time and to provide business advice when asked. Lumina is an inspiration to any company wanting to set up business in Hertfordshire.
Carolyn Addison
Corporate Fundraising Manager, The Hospice of St Francis
Lumina Technologies Prism Hosted Desktop has allowed our business to centralise our global corporate data, allowing much faster access for all our staff – regardless of their location. We have also been able to simplify and reduce our infrastructure and management overhead. With the new Prism Hosted Desktop solution all staff now have simple and secure access to corporate data using any device they choose. Prism Hosted Desktop has increased the productivity of our staff and given us a single, consistent and familiar experience for all users from any device, in any location, 24/7.
Katherine Roe
Chief Executive Officer, Wentworth Resources PLC
The commercially sensitive and regulated nature of Lambert Energy Advisory’s business requires an IT provider able to maintain the highest levels of integrity and confidentiality, Lumina Technologies has consistently been unimpeachable in this regard over the nine years we have employed them.
Patrick Agar
Lambert Energy Advisory
It has been a great pleasure working with Lumina Technologies over the past two years. They have fully committed to being involved in the local community with volunteering and with professional advice and commitment, helping many local charities along the way. As a growing company it proves that being involved in the local community is helping them attract and retain a talented workforce and I look forward to working with them well into the future.
Cindy Withey
Connect Dacorum
Hawkstone Management Services Ltd is a small company for which IT Outsourcing is realistically the only viable option. Lumina Technologies have successfully performed this role for over fifteen years. They also provide innovative solutions to keep pace with technological progress. I would have no hesitation in recommending Lumina to similar sized businesses.
Stephen Pembury
Hawkstone Management Services Ltd
Charles Douglas Solicitors LLP have been using Lumina Technologies for a number of years now and continue to be impressed by the technical know-how and contemporary knowledge of their senior management, who provide a timely, efficient and friendly service. Whether it is a small issue with one computer, or a strategic IT decision, they maintain a current knowledge of available technologies. Lumina are always at the other end of the phone to help resolve issues and minimise business interference. The technical knowledge of Richard and his senior team means that there has not been a problem that they can’t solve to date. I am sure we will continue to use them in the years to come.
Charles Douglas
Managing Partner, Charles Douglas Solicitors LLP
The team at Lumina Technologies have made the Amoun Travel & Tours office IT transition seamless and problem free. The office set-up has been vastly improved and the IT Support services are flawless. No issue goes unresolved, which is extremely reassuring.
Adam Helmy
Amoun Travel & Tours Ltd
Lumina Technologies has been Salamander Energy plc’s IT provider since start-up in 2005 and has supported us in London during our expansion across operational offices in SE Asia. Their professional approach, strategic advice and close co-operation have been essential in making this a success.
John Bell
Group Technical Director, Salamander Energy plc
Richard and his team at Lumina have provided Perrett Laver Limited with high quality strategic and practical IT Services for over ten years. During this period, Perrett Laver has grown from 10+ colleagues based in London to nearly 100 colleagues located in six offices across the Americas, EMEA and Asia-Pacific. Richard and the Lumina team have not just been responsive to our ‘everyday’ IT needs, but have proactively sought to work with us on developing an infrastructure suitable for the type of operation we are today, and are planning to be months and years down the line. I would not hesitate to recommend Richard, especially for small to medium size business with growth in mind.
Clementine McKinley
COO, Perrett Laver Limited
Society Limited has been supported by Lumina Technologies since our earliest start-up phase. From large logistical challenges like an office move, through to smaller fiddly issues like fixing a faulty e-template, we know we can count on their support and advice. They’ve also been able to engage with us strategically on the challenge of scaling-up our infrastructure as the firm continues to grow and evolve. We always feel confident going to Lumina with a problem, since we know they genuinely care about sorting things out and helping us to get on with our core business.
Simon Lucas
Managing Director, Society Limited
The Vita Group HQ staff have worked with Richard McBarnet and Lumina Technologies for over 9 years, with Lumina providing all our PC, server, phone, and software support. The services have included C-level executives based in London, Manchester, the US, as well as supporting home office IT as well. The service provided and intellectual capabilities are outstanding and we would highly recommend Richard and his Lumina team.
Joe Menendez
CEO, The Vita Group
We worked with Lumina on a GDPR Audit. Richard was knowledgeable and professional throughout, and did the best he could to bring a dry topic to life through lots of real life examples and analogies. We were so impressed with the service Lumina provided and the value we got from partnering with them on this project – we couldn’t recommend them enough.
Holly Cottingham, Vintec Laboratories
We’ve been so well supported by Paige and the Lumina team. They’ve been highly professional, very responsive, friendly, supportive. It’s really validated the decision to engage an IT partner, and we’re glad it’s with Lumina.
Bruce Storey
Chief Operating Officer, Estu Global Ltd
