Naeem Arif has built a distinguished reputation for transforming business challenges into opportunities for growth, with three decades of entrepreneurial success spanning retail operations and strategic consultancy. As founder of NA Consulting, he empowers organisations from independent retailers to international brands, delivering strategic insights that drive measurable results whilst his own retail operations provide real-world validation of the principles he champions.
Naeem’s co-founding of the Retail & Hospitality Forum reflects his passion for elevating these dynamic sectors and creating platforms for shared success. His unique dual perspective, actively running retail stores whilst guiding businesses of every scale, equips him with comprehensive understanding of what truly drives sustainable growth and competitive advantage.
His advisory work and published insights champion customer-centric approaches as the cornerstone of business. This philosophy, combined with his strategic analysis of policy opportunities and market evolution, positions him as an invaluable resource for businesses determined to strengthen their position and unlock new possibilities during transformative times.
Your three decades of entrepreneurial experience across retail and consultancy have equipped you with remarkable insight into business resilience. What qualities do you see in businesses that successfully turn economic pressures into opportunities for growth?
“It has been an undeniably challenging time, particularly for smaller businesses, over the last decade, including Brexit, then the High Street Crisis, then the Energy Crisis, even the slightest fluctuations in incomings and outgoings can mean make-or-break for them, which is why economic changes and announcements from the Government like the Budget need thorough evaluation.
“While you need to be aware that customers will of course react to the headlines, companies need to ensure they fully investigate and understand each new Government policy. It’s only through this analysis process that leaders can ensure they are making the most of any potential savings and avoiding decisions which could see them paying extra for assets or operations going forward.
“The fluctuating economic picture remains an ongoing test of resilience – but it’s also important to focus on the glimmers of good news, making sure that any opportunities are fully utilised to make the ‘best of a bad situation’ to quote a cliché. It’s this ability to look at the situation from every single possible angle, to weigh up the pros and cons of every potential decision, and to stay in the middle lane of cautious positivity, avoiding becoming either blindly optimistic or too focused on ‘doom and gloom’ which puts leaders in the best position going forward. You have to focus on what you can control – whilst remaining aware of what is affecting you.”
Your dual perspective running retail stores. whilst mentoring both small businesses and large corporates through NA Consulting provides invaluable insight into business operations at every level. What empowering steps can entrepreneurs take to evaluate whether regional infrastructure funding opens doors for strategic expansion or relocation that could elevate their business?
“In the modern world where business can be undertaken remotely with customers and suppliers based anywhere, you can choose your physical location based on the opportunities are available.
“With an increased amount of devolved funding being issued to the seven mayoral regions, in addition to the North Ireland Executive and the Scottish and Welsh Governments, those independent businesses within regions set to benefit from additional moneys should investigate how local decision-makers are planning to channel their funds, as this may open up location-specific opportunities for grants, reduced business rates, or other benefits.
“And it’s also worth considering which areas are benefiting from specific Government-funded projects. For example, independent businesses looking to relocate or open up a physical office or shop for the first time could consider where transport links are set to be upgraded. Locations along the Northern Growth Corridor, within the Midlands and along the TransPennine route are likely to become easier to travel to and from thanks to the projects planned there. Sector-specific projects, such as the new AI Zones being announced including two in Wales, may equally prove influential when it comes to where businesses are best located going forward.
“Business retention schemes are also being established, such as the Leeds City Fund, which – while they won’t directly benefit the independent companies within those locations – will see local authorities able to keep 100% of the rates they collect. This will then be invested into schemes aimed at, for example, improving infrastructure or developing commercial sites, that will prove advantageous for nearby businesses in the long-term.
“All of this demonstrates the range of considerations which need to be weighed up for independents looking to set down roots, expand, launch a physical office or store space, or relocate from their present location. But of course, wherever your physical roots are, technology must be utilised to ensure a wider reach.”
As co-founder of the Retail & Hospitality Forum, you’ve championed these sectors through considerable evolution. How can organisations harness the increased investment limits for venture capitalists to unlock growth funding that propels their ambitions forward?
“Private companies looking to attract funding from venture capitalists may well benefit from the newly raised asset and investment limits – intended to ensure scale-ups can be supported as effectively as start-ups. This underlines why it’s important for entrepreneurs to ensure they regularly investigate any sources of funding which may be available to them, even if an avenue was not viable previously, it may become relevant down the line.
“For example, any independent businesses looking to transfer to public ownership, enabling shares to be bought for the first time, could now benefit from the three-year exemption from Stamp Duty Reserve Tax which eradicates the 0.5% taxes usually in place and could entice more or larger investments. It is certainly something for leaders to highlight if they’re looking to start conversations with would-be investors.
“A larger tax write-off of 40% against eligible assets is now also available to businesses in their first year of trading. That’s not to say that companies should rush to buy more expensive equipment or machinery, but it may provide helpful in maintaining cash flow in those all-important first few months of trading.”
The apprenticeship system has evolved significantly, creating fresh possibilities for business growth. For retail or hospitality businesses exploring this talent pathway, what key considerations will help them determine whether apprenticeships could become a powerful asset in building their team?
“The great thing about apprentices is that they can be full of energy and bright ideas, of course they also normally have limited experience so they will need a substantial time investment to give them the skills and knowledge needed to develop quickly. Be clear from the offset what you want and be realistic about what they will be able to achieve – knowing that once you find the right ones, and provide the right environment and mentoring, they will go on to become great assets for your company.
“For many independent businesses, the additional costs of hiring and training apprentices may have deterred them from doing so in the past, but a number of changes may make it more feasible in the future. For most apprentices aged under 18, and specific individuals under 25s, the full cost of training and assessments will now be covered by Government funds, while there are no Class 1 National Insurance contributions for apprentices under 25 earning under the regulated threshold.
“SMEs with a payroll of under £3million per year (who are exempt from the Apprenticeship Levy) will also benefit from support which will cover most or all of the training costs, depending on the age and eligibility of their trainees.
“As well as considering apprenticeships, company owners should also investigate how the Chancellor’s announcements will impact any existing employees they have. Whilst personal tax and National Insurance payments have remained the same, there will be a new cap on salary sacrifice schemes, whereby any savings above £2,000 will be taxed in the same way as other pension contributions. This may affect whether businesses choose to opt out of offering such a scheme to staff going forward.”
You’ve advised globally recognised brands whilst championing local enterprises throughout your career. What valuable lessons from larger corporations can other organisations adapt to identify and capitalise on policy changes more effectively?
“Previously, the barriers for SMEs were around size and scale – but not they can not only challenge corporates, but they can also beat them by being more flexible and customer-focused. That’s why introducing corporate thinking to SMEs is so important.
“One of the crucial ways in which many global brands reduce business risk is by diversifying; while big companies may look to enter a whole new market or sector, smaller brands can think about the add-on products or services they could provide, which cushion them if the profit margin on their core offering is impacted by policies or economic fluctuations. Similarly, big brands tend not to rely too heavily on one supplier, given the risks this carries, so smaller companies would do well to replicate this practice.
“They say ‘data is king’ and it’s certainly something many businesses rely heavily on these days. Local businesses may feel under-resourced in that respect but, while it’s true that they’re unlikely to be able to spend the same sort of time and money collecting and analysing data, there are ways to do this on a smaller scale. What’s important is understanding the market, understanding your target customer, and understanding your customer journey and what makes people loyal to your brand. Listening and acting on that feedback doesn’t require a million-pound outlay and you’re more likely to have direct access to the CEO when working within an SME, which is a huge bonus.
“While not all big businesses have a perfect communications strategy, smaller businesses can learn from those that do a great job engaging with everyone from stakeholders to staff to suppliers. There are some really fantastic examples out there of effective communications channels which don’t have to cost the earth, like the use of micro or local influencers which can be a game changer.”
Customer experience remains the cornerstone of your consultancy work and retail operations. How can organisations continue investing in exceptional customer service whilst managing operational costs, turning this commitment into a competitive advantage?
“Customer experience is as much about how you made someone feel as it is about the product or service they received. Yes, your product or service should be of the highest quality and should match (or exceed) what they were promised. But those little extra touches which make a customer feel valued are, quite often, very low cost, especially when compared to the value they add to that interaction.
“My big advice here is to never stop listening to your customers. The ‘voice of the customer’ will tell you, directly or indirectly, what they want and need. They will help you remove barriers for them to buy and they will also tell you what they like elsewhere.
“Hotels where every member of staff addresses the customer by their name, restaurants where there’s a personalised menu based on their dietary requirements and preferences, products which arrive with a hand-written note, an unexpected upgrade. These thoughtful examples are the cornerstone of a great customer experience. ‘Going the extra mile’ might be a well-used phrase, but it’s pivotal when it comes to customer service and loyalty.”
Your books and advisory work champion putting customers first, a philosophy that drives sustainable growth. How can entrepreneurs uphold this principle whilst managing increased operational costs, using it as a differentiator that strengthens their market position?
“Putting customers first is about inherently understanding what your target customer wants and needs. Gathering detailed feedback, encouraging honest reviews and conducting market research all help you build up a picture of what customers value and what’s going to keep them loyal to your brand. Let customers tell you what they want, and then evaluate how you can implement these suggestions into your business without costs spiralling – this works far more effectively than the other way round!
“If increased operational costs are going to have an impact on the customer-facing aspects of your business, then it’s important to communicate clearly, honestly and frequently with customers. People understand how tough it is right now, and most businesses are in the same position, so if you’ve always provided a fantastic customer experience then they will look to stay loyal to you if they can.”
Looking ahead twelve months with optimism, what strategic actions would you recommend business owners embrace now to emerge from this period significantly stronger, equipped with new capabilities and competitive advantages?
“Explore all options to ensure you’re taking advantage of every possible avenue of support or funding and check regularly as there are new programmes and schemes being announced all the time. Get to know your customers as well as you can, and focus on them above all else: with fantastic customer experience comes loyalty, and that’s a crucial foundation from which you can look to grow your business when the time is right.
“Look at how others have weathered economic fluctuations and see how you can replicate some of their positive actions in your own business. And seek advice in areas where you’re not an expert: while you need to have an overview of all functions within the company as the boss, the reason you have staff or work with external partners is for them to bring their skills and knowledge to the table. Asking others for ideas shows leadership strength, and often collaboration can lead to a much more positive outcome because you’ve pooled all of your expertise together.”