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Entries from March 2014

Managing year-end deadlines is critical

Sarah Bean - Friday 27.03.09, 09:11am

As year end approaches for many small businesses, the Institute of Chartered Accountants in England and Wales (ICAEW) warns SMEs to think ahead and start planning now so they are not faced with any bombshells.
Clive Lewis, Head of SME Issues at ICAEW, says, “It is essential that you build time into your workload for year-end [...]

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Tags: SME · Small Business

Banks move the goalposts

Sarah Bean - Wednesday 25.03.09, 09:27am

According to a survey carried out by the UK200Group, an association of independent professionals including lawyers and accountants, almost half of respondents (47%) said their banks had imposed changes to overdrafts or loans, with 27% claiming that these changes had taken place without notice. Just 11.4% were consulted over changes to lending agreements.
 
More than a [...]

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Tags: Banking · SME · Small Business · UK Economy

New report highlights SME innovation

Sarah Bean - Tuesday 24.03.09, 09:00am

A new study, written by Emergent Research and issued by Innuit, shows a real need for small businesses to innovate to find success. With the web making it easier for new business start ups, competition has never been so prevalent. How important is innovation to future growth?
Luckily for entrepreneurs, they have the greatest opportunity to [...]

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Tags: Business Growth · SME · Small Business

Banks Unfit for Purpose, says Think Tank

Sarah Bean - Friday 20.03.09, 09:10am

Economic rescue efforts - including quantitative easing - will not work until the fundamental problem that Britain’s banks have become “unfit for purpose” is addressed, says nef (the new economics foundation).
The report just published calls for a radical rethink of Government strategy, to rebuild a financial sector that is clearly fit for purpose.
According to nef, [...]

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Tags: Banking · SME · Small Business · UK Economy

Start Twittering

Sarah Bean - Wednesday 18.03.09, 10:36am

Over 6,000 small businesses across the UK are turning to the free social networking site, Twitter, every day to cut marketing costs and keep in touch, according to a study conducted by O2.
The survey of over 500 small businesses found that nearly two in ten (17 per cent) are using Twitter with over one quarter [...]

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Tags: SME · Small Business

Late payments to SMEs rocket to £26 billion

Sarah Bean - Monday 16.03.09, 13:41pm

British small and medium size enterprises (SMEs) are now owed a massive £25.9 billion after overdue payments leapt by almost 40 per cent over the last year, up sharply form £18.6 billion. That’s the latest finding into the problem conducted by Bacs Payments Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit.
While [...]

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Tags: Cash Flow · Factoring · Invoice Discounting · SME · Small Business · UK Economy · Uncategorized

The accidental philanthropist

Sarah Bean - Friday 13.03.09, 09:18am

Microsoft writes about how small businesses can unwittingly become accidental philanthropists:
“Business people are often caricatured as grasping, two-timing so-and-sos, but take a closer look at the average small business owner and you may find he’s generous to a fault. He lets other businesses finance themselves with his money, by paying suppliers early and not invoicing [...]

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Tags: Cash Flow · SME · Small Business

3% increase in VAT registered companies

Sarah Bean - Wednesday 11.03.09, 09:05am

Estimates of the number of enterprises registering and de-registering for VAT in 2007 have been published by the Department for Business, Enterprise and Regulatory Reform (BERR). The stock of VAT-registered enterprises at the start of 2013 has also been released.
The stock of VAT-registered enterprises increased by 57,900 (three per cent) during 2007, to reach 2.03 [...]

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Tags: Business Growth · SME · Small Business · UK Economy

Business confidence on the rise

Sarah Bean - Monday 09.03.09, 09:05am

The latest Business Trends report by business advisors and accountants, BDO Stoy Hayward, suggests that both short and medium term business confidence has risen for the first time in 13 months.
Peter Hemington, Partner at BDO Stoy Hayward, commented: “Optimism remains low and businesses expect the economy to continue to contract, but companies are now adapting [...]

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Tags: Business Growth · SME · Small Business · UK Economy

Recession-Proof Guide to Credit Management

Sarah Bean - Thursday 05.03.09, 09:20am

Failure to put these 10 steps in place could result in failure for many cash hungry small businesses. Yet implementing a professional credit control programme can easily distract from gaining new business which will ensure a company’s sustainability. It seems a ‘catch 22’ situation. When you look at the check list of just some of [...]

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Tags: Cash Flow · Factoring · SME · Small Business