By Tina Zawila
If you’ve ever felt like running a business has become a bit of a rollercoaster, you’re not alone. Most small business owners deal with challenges on a daily basis.
There’s actually a term for this kind of environment: VUCA — short for Volatility, Uncertainty, Complexity and Ambiguity. It’s a framework originally used by the U.S. military to describe challenging environments but is now often applied in business, leadership, and strategy contexts.
Let’s start with Volatility. One month your costs are stable, the next you’re hit with an increase in supplier prices, stock needs or other overheads. It feels unpredictable — and it is. That’s why having a cash buffer and good working relationships with your suppliers can make all the difference when things swing suddenly.
Then there’s Uncertainty. Technology is moving fast, global events ripple into our economy, and customer habits keep shifting. It’s not always clear what’s coming next. The businesses that cope best are the ones who talk openly with their business advisor, teams and customers, so they can adjust quickly.
Complexity is another challenge. Between layers of regulation, changing tax rules, workplace laws, staffing pressures and your growing to-do list, it can feel like you’re juggling ten balls in the air. Simplifying where you can — maybe by automating tasks or seeking specialist help — can take a lot of weight off your shoulders.
And finally, Ambiguity. This is when the path ahead just isn’t clear. Do you invest in new tech now, or wait to see how the market shifts? Sometimes the best way forward is to test small ideas, learn from peers, and get advice before making the bigger calls.
Yes, business is tough in a VUCA world. But small businesses have an advantage — agility. You can pivot faster, respond locally, and stay close to your customers. By naming these challenges and tackling them head-on, you’ll be better equipped to ride the ups and downs with confidence.
If you need the support of an experienced, professional business advisor, call the team at UHY Haines Norton CQ on 0749721300 today.
