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Businesses advised to consider pricing, with funded LUMS support programme

LUMS Pricing with Purpose workshop

Lancashire businesses are being advised to consider a fully-funded Lancaster University programme designed to help them to price their products and services with confidence, which starts this month.

Many small business owners will have seen the start of 2023 with a range of mixed emotions, excited by the opportunities a new year presents, yet mindful of the uncertainties, pressures and challenges they face. Brexit, the after affect of the Covid-19 pandemic and the ongoing war in Ukraine still loom over businesses.

Many business owners feel apprehensively forced to review their prices, with inexperience making them want to shy away from it, instead of facing what can feel like uncomfortable decisions, head on. Lancaster University Management School’s (LUMS) upcoming Pricing with Purpose programme is designed to help the owners and directors of Lancashire SMEs to break down the barriers to implementing price changes.

It will explore why price increases are the most effective means of increasing profitability, how to identify the right pricing strategy for businesses and ways to confidently put up prices without losing clients. Pricing with Purpose is delivered in-person over two-days and is designed to be short, practical and impactful. Delivered by business expert Mark Prince, through the programme businesses will analyse their current processes and ultimately gain more control of your business finances which can lead to bigger profits. It will give leaders the time to step away from the day-to-day running of their business and reflect on your strategy – moving away from making ends meet, to helping their business thrive. The programme is fully funded for eligible Lancashire SME businesses through the European Regional Development Fund (ERDF) and is highly interactive to help build meaningful relationships with fellow business leaders.

The programme starts on 27 April 2023.  Register online or email lancashireforum@lancaster.ac.uk to find out more about how this programme can positively impact your business. Boost is helping Lancashire businesses. We have a range of funded support programmes and a team of business advisers you can talk to. To speak to someone from the Growth Hub about business support, contact Boost online or call 0800 488 0057.

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