Whilst the national press mostly talks up big business and highlights world famous brand names, it may surprise many observers to learn that almost half of the UK’s business turnover comes from small and medium sized businesses. Just under 15 million people are employed by these businesses which have a collective turnover of £1.6 trillion. […]
Tag: SME news
Overdue invoices give SME’s cash flow problems
Of the many challenges facing small businesses in these tough economic times, one of the biggest is lack of cash, and one of the main causes of this is late or non-payment of invoices due them. According to data collected by the independent invoice financier Bibby Financial Services, the size of the problem has doubled […]
SMEs being conned by consumers
A survey conducted by the Federation of Small Businesses, or FSB, has come up with some startling revelations. Three out of every 10 companies have been duped financially and the culprit is most cases (13 percent) are customers or a client while ‘card not present’ accounts for 10 percent of the fraud cases. This apart, […]
Reducing paperwork can greatly improve the chances of your business succeeding
Business owners have to keep track of many details, some of which can make the difference between success and failure. Just a couple of tips may be useful; if you aren’t already using them, consider how they might improve your income and reduce your paperwork. Social networking is not just for keeping up with your […]
SMEs keeping fingers crossed that the value of the pound will rise
Many small businesses across the UK are expressing concern that the weak pound is hurting their business profits as concerns over the economy in the UK will likely cause the Bank of England to print once again this year. However, the news has already caused the sterling price to drop dramatically. Over half of all […]
SME’s still losing confidence in financing options
The Federation of Small Businesses (FSB) has stated that the reason that many SME’s are now suffering due to a lack of financing options, tough domestic conditions, and weak customer demand. Their new ‘Voice of Small Business’ index revealed that firms are now less confident in the third quarter despite the fact that the government […]
Many SME’s have considered closing due to the economy
Over 11% of all British SME’s have said that they have thought about closing their doors at some point during the last quarter as a result of the tough economic climate. The news comes from a new SME Risk Index from Zurich the global insurer. The survey also found that 84% of all SME’s are […]
Welsh authorities lead the way in SME growth
Some of the local authorities in Wales are now leading the way for SME’s in the UK to grow, according to a new study that was conducted by the FSB (Federation of Small Business). The study discovered that Welsh councils have done the most to emphasize the social value of SME’s over the cost benefits […]