Small Businesses Still Relying on Credit Cards
Nearly half of all small–business owners use a credit card to boost their firm’s cashflow, new research has found.
The survey of more than 700 UK small-business owners and financial directors by Hilton–Baird Financial Solutions found that 44% use credit cards as working capital, despite the high interest rates charged.
However, Institute of Chartered Accountants in England & Wales (ICAEW) head of SME issues, Clive Lewis, said that credit card use was acceptable in the short–term, provided debt was kept under control.
Free Resources
SMEs concerned about e-risks and cyber crime
In light of the Government’s new report which states that UK cyber crime costs the UK economy £27bn a year, research by specialist small business insurer Hiscox reveals that nearly a quarter (22%) of SMEs are concerned about e-risks and cyber crime.
Hiscox SME insurance expert, Alan Thomas, comments: “In light of these latest Government figures and the importance of data to businesses, it is essential that SMEs have strategies in place to mitigate online risks. Our research reveals businesses are now more concerned about cyber crime (22%), such as hacker attacks and electronic ID theft, than having cash (8%) stolen from their premises.”
Read more: http://www.easier.com/84743-smes-e-risks-cyber-crime.html
Free Resources
Small businesses are believed to have outperformed large businesses
According to research by management school Roffey Park, liability insurance holders with less than 50 employees outperform larger organisations in employee wellbeing. However many managers have stated that small businesses need to invest more in staff development or risk stagnation.
The school surveyed more than 1,500 UK business managers and found that small businesses were stronger at leadership, job security, career progression and the ability to survive the recession.
It was found that the more staff an organisation had, the more likely they were to experience poor leadership, conflict and bullying.
Read more: http://www.constructaquote.com/79/section.aspx/1667/Small-businesses-in-a-stronger-position-
Free Resources
Barclays ‘scrapping asset finance for SMEs’
Despite Barclays signing up to the Project Merlin agreement, pledging to increase its lending to small and medium-sized enterprises (SMEs) this year, it is scrapping another one of its provisions.
The bank will no longer provide asset finance to SMEs with a turnover of less than £5 million, reports the Times.
The decision means Barclays is “potentially withdrawing credit to tens of thousands of business clients”.
Clydesdale and Yorkshire Banks said they would be boosting SME funding this year, providing an expanded selection of services and products to small firms.
Source: http://www.makeitcheaper.com
Free Resources
Best loved businesses – Tivyside Advertiser
|
Best loved businesses
Tivyside Advertiser The top 20 most loved small businesses in Cardigan and the Teifi Valley have been named after a nationwide search to find the best local shops and companies in the UK. Rolands Hair Design, Cardigan, is the most loved small business in the area for the … |
Free Resources
Training Courses Provide Core Business Skills – 24 Hour Business News (press release)
|
Training Courses Provide Core Business Skills
24 Hour Business News (press release) Responsibility for business growth is falling to the private sector and Pantheon is making its mark by providing SME business support and delivering locally relevant, practical and cost effective training courses that instil the necessary skills for … |
Free Resources
Smaller firms struggling to access finance – TaxAssist Accountants
|
Smaller firms struggling to access finance
TaxAssist Accountants The comments coincide with the launch of the European Commission's EU-wide Small Business Act, which aims to improve smaller enterprises' access to finance. As part of the Act, public authorities will be required to pay suppliers within 30 days, … Limited company contractors still struggling to access finance |
Free Resources
Legal challenge launched over tuition fees – Independent
|
Legal challenge launched over tuition fees
Independent No – they won't raise their prices, the ones that can leave will leave, anybody thinking of starting up a small business will have even less incentive to do so (and the legal, tax, employment legislation and banking environment in this country is … |
Free Resources
National Audit Office: Only a third of companies use Business Link website
Despite the government trumpeting the Business Link website as the main source for company owners seeking information on regulation, only 34% actually access it, the National Audit Office (NAO) has revealed.
According to the group, which produces value for money reports into the implementation of government policies, use of the website is “limited” with the amount of business owners turning to the service for advice rising by “only five percentage points [since] 2007″. This is despite BusinessLink.gov.uk being “designed as a one-stop-shop for business”.
Some entrepreneurs are completely unaware of the website, the NAO said, with one respondent suggesting the introduction of an almost identical system not realising this was already available. The organisation also pointed to a recent study by the Better Regulation Executive (BRE) which found that 28% of micro-businesses are not online and so would not have access to web-based information.
Free Resources
Business continuity plans: a position for recovery – The Guardian (blog)
 The Guardian (blog) |
Business continuity plans: a position for recovery
The Guardian (blog) Aviva, in its bi-annual SME Pulse survey, says companies that don't take the time to prepare disaster recovery and business continuity plans (BCPs) are more likely to close in the first two years of trading. A BCP seeks to identify a small business's … |
Free Resources
