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Many organisations have started to break free from the constraints of starched collars and ties in favour of more comfortable office attire. However, when it comes to raising finance Steve Websdale from Venture Finance believes it doesn't pay to be too relaxed. A survey by the London Chamber of Commerce in 2004 found that 58% of companies permitted casual dress at the end of the week. Just four years earlier the figure was closer to 20%. So it seems we are becoming more casual at work - but what impact does this have on the success of a business? Well, it's certainly popular with staff, as a recent poll of more than 2,000 workers by Monster.co.uk found when 55% thought smart casual wear should be standard. As a result, some companies are making 'dress down Friday' a more permanent fixture. Traditional suits are now regularly being swapped for chinos and polo shirts. In some cases, casual dress can even mean jeans and trainers. Although workers may feel more comfortable without a tie around their neck, one thing hasn't changed - first impressions still count. In situations where people are being interviewed for a job or looking to secure finance, the old adage still stands - dress to impress. Someone who knows the power of first impressions is Doug Richard, an investor or 'dragon' on the popular BBC Two programme, Dragons’ Den. On the programme's website Doug gives the following advice to those looking to raise funds: "Be aware that the investor is looking at how well you present, how well you dress, how you carry yourself." Problems can arise between industry sectors where definitions of smart may differ. For example, the financial services industry is traditionally very formal. This is why it might be advisable for business people from more relaxed sectors to make the effort to dress up when meeting financiers. It is also worth bearing in mind that different types of suit can project differing messages. So, if you stick with the trusty suit, is it communicating the right image? Below we've taken a light-hearted look at what you could inadvertently be saying to people through you dress sense or lack of it: * Ill fitting suit - Suggests signs of dejection and that it might be time to move on - via a management buy-in, buy-out, merger or acquisition. You might also consider outsourcing some of your business requirements such as funding, to allow you to concentrate on your core business * Smooth suit - All is going well, and any frustrations tend to be ironed out. You usually ensure that you are on top of business issues and tend to spot problems early on, before they might cripple your business * Mismatched suit - Might be a sign that your skills don't fit the job and some retraining could be required to make sure you stay ahead of the competition * Traditional pinstripe suit - You may be set in your ways. You like to do things the 'traditional way' and lack creativity. Consider bringing in a management consultant to suggest new ideas * Old suit - Suggests you might need a break. Stress can be damaging to your business. Take time out to enable you to consider things afresh and give your business a fresh lick of paint * Cartoon ties - You may wish to show you have a sense of humour but comedy ties only succeed in saying the opposite. Put simply, do not, under any circumstances, wear them * Colourful shirts - A splash of colour with your suit may make a statement but is it the right one? A red shirt can signal you are exciting and confident but may also indicate a domineering and bossy personality. On the other hand a classic white shirt with a charcoal grey suit projects optimism and authority By all means keep your team motivated by allowing for flexibility in work-based attire. However, remember, when out of your office a first impression can only be made once, so make sure it's a good one. If in any doubt about the dress code for a meeting, err on the side of caution and go formal, especially if it's to secure finance. © Crimson Business Ltd 2006
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