5 challenges for small business – and how to beat them!
Running a small business is one of the most rewarding adventures you can take on. But let’s be honest — it’s not always smooth sailing. Every owner hits a few speed bumps along the way, and a big part of success is knowing how to navigate them with confidence.
At Cross Group, we work with business owners every day who are dealing with these challenges head-on.
Here are the five big ones we see most often — and how you can get ahead of them.
1. Uncertainty
If only we all had a crystal ball. Unfortunately, reality is more “brace yourself” than “psychic hotline”.
While you can’t predict things like economic swings, policy changes or surprise weather events, you can put strong plans in place. Tools like forecasting and scenario planning help you map out Plan A, B and C, so you’re ready to pivot when needed. With reliable data behind you, reacting quickly becomes much easier.
2. Competition
Small businesses often compete with big players who seem to have endless resources.
Your advantage? Agility. You can move faster, personalise your service, and carve out a niche that larger businesses can’t replicate. Know exactly why customers come to you, lean into your strengths, and keep delivering what they value most. The “small but mighty” approach really does work.
3. Access to Capital
Securing funding can feel like climbing a cliff with buttered shoes — especially in the early days.
A solid financial story makes a world of difference. Clean bookkeeping, consistent reporting, and smart cashflow management help lenders see you as a safe bet. Show that you pay suppliers on time, keep debt manageable, and understand your numbers. The stronger your financial foundation, the easier it is to access capital when you need it.
4. Hiring and Retaining Great People
Finding the right people has become a challenge across almost every industry.
Competitive pay is important, but it’s not the whole picture. Today’s workforce also wants to feel proud of where they work. They look for purpose, flexibility, sustainability, and businesses that genuinely care. Build a workplace culture that reflects your values, and retention becomes far easier — people stay where they feel valued.
5. Keeping Up With Technology
Tech is evolving at record pace, and trying to keep up can feel like chasing a moving target.
The key is being selective. Start with what your business actually needs — efficiency, automation, clearer data — then choose software that solves those problems. Talk with other business owners, lean on your advisers, and do your homework before committing to anything new. The right tech should make life easier, not more overwhelming.
Let’s help you stay agile
At Cross Group, our goal is to help you stay informed, prepared, and in control.
We can support you with:
The right management information to guide decisions
Cashflow and forecasting tools to keep you ahead of challenges
Strategic advice to help you respond to risks
Smarter ways to manage finances and access capital
If you’d like to talk through any of these challenges, we’re always here to help. Book a meeting and let’s look at what the future could bring for your business.