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Five firms blacklisted for late payments

Five companies that regularly hire freelance IT contractors have been included on a blacklist exposing firms that are regularly late in paying freelancers for their work. (more…)

Late payment fine powers issued

Freelance contractors have long suffered financial costs as a result of late payments, but now the government has finally agreed to steps that could see firms that do not pay on time hit with fines. (more…)

Some SME owners waste eight working days a month on procedures and processes

A recent survey has highlighted the fact that most business owners are wasting many hours each week processing information and dealing with procedural tasks.

The survey was carried out by (more…)

Federation of Small Businesses welcomes Chancellor’s latest budget

A spokesperson from one of the UK’s leading business organisations praised the chancellor for juggling everyone’s needs and coming up with a ‘brilliant budget’.

That praise came from (more…)

Hammond announces additional funding for workplace training

Chancellor of the Exchequer Phillip Hammond has pledged extra support for a range of training and skills initiatives.

During his speech at (more…)

Government develops new laws to help small businesses secure funding

The UK government is in the process of passing new regulations that will outlaw unfair contracts.

The changes will (more…)

UK SMEs still confident despite Brexit uncertainty

The latest research has shown that more than three quarters (77%) of SMEs in the UK are feeling confident over the future.

This research was carried out by CitySprint, a same-day courier service provider. It is the sixth time the company has interviewed 1,000 SME managers for its Collaborate UK survey.

The results of the survey showed that business confidence is gradually growing. In 2016, only 29% of those who answered CitySprint’s questions said that they felt confident about the future. By 2017, it was 46%. This year, 77% were feeling positive.

Firms which had been in operation for under three years, were more upbeat than the older ones were. Only 34% of the decision-makers in firms that were 15 to 20 years old were feeling confident about the future,

When asked about Brexit, 30% said they saw it as the main obstacle to growing their business over the coming 12 months. Despite this, many, especially the smallest firms, had yet to do anything to prepare for Brexit.

Interestingly, 39% of participants said that Brexit was currently having positive impacts. With the help of their team and accountants, Birkenhead firms and those in the Wirral, which narrowly voted in favour of remaining in the EU, are actively growing their activities in Europe.

In total, 41% were seeking out new customers on the European continent. While 20% were expanding into Asia and 25% into North America. Despite their concerns about Brexit, most SMEs were keen to grow internationally.

Patrick Gallagher, the chief executive of CitySprint Group, pointed out that more collaboration could help firms to achieve their goals faster. He said:

“Working together they will be able to weather the economic highs and lows and reach their ambitious growth plans – both at home and abroad.”

UK SMEs exports are up by 30%

Since 2016, UK-based firms have been working hard to increase the amount they export, and research suggests that many of them have been very successful.

According to a (more…)

Vast majority of UK SMEs have no succession plan

A recent survey has uncovered the fact that most UK SME owners have not yet planned what to do with their business when they stop working.

The SME Future Attitudes study, which (more…)

New data released to enable business banking comparisons

As of 15th August 2018, banks are obliged to publicly share information on how likely it is that their customers would recommend their services. (more…)

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