The Issue of Trust in Business

The definition of trust is, “reliance on and confidence in the truth, worth, reliability of a person or thing”. Trust is something that as humans we can find a tricky subject and putting our trust or faith in another person can sometimes leave us feeling vulnerable. The same can absolutely be said in businesses. To trust another business to support yours can be somewhat scary. You often question whether they would truly have your best interest at heart or are they purely looking at you as an opportunity to make money. Well, yes any business relationship is built around making money and if somebody says the opposite then this could be a big red flag. However, a fully functioning working relationship should definitely financially reward all those involved.

The British economy could now be considered to a be a relationship economy. By this we mean that it is the quality of relationships, with customers, employees, partners and suppliers that are critical to the success of businesses. Building a relationship must have trust at the very heart of it.

Customer service is already central to the competitiveness of the UK economy 78% of UK GDP is generated by the service sector and 70% of the working population are in jobs that involve dealing directly with customers. It is concerning, therefore, that the latest UK Customer Satisfaction Index (UKCSI), published by The Institute of Customer Service and based on 40,000 customer responses, reveals a continuing decline in customer satisfaction.

The Institute of Customer Service regularly conducts research into the link between businesses and customer service and into what customers want in terms of service. This provides invaluable insights that government needs to pay attention to. We know that organisations with high levels of customer satisfaction on average show better performance in terms of sales and market share growth. But there is also a need for need for organisations to understand the importance of being transparent in the way they deal with customers and report to stakeholders.

Customers' expectations are evolving rapidly with priorities being greater convenience, speed and value. Providing high quality service is at the core of our business and just one of the many reasons why companies choose to work with Baker Leasing for their leasing requirements and partner with us to offer financial solutions to their customers. We pride ourselves in being able to provide instant competitive quotations and the ability to process a deal from start to finish within a matter of hours when required.

With over 20 years experience we can truly say we have seen it all, and continued to thrive as a business through the ups and downs of the economy. This is why we can say that you can trust in our experience to take care of your business. And from our customer feedback it is clear that we are delivering on our promise:-

“I have to say, from start to finish, Baker Leasing has been a pleasure to deal with. Thank you for your help” JS, Financial Controller.