Catagory / Finance

UK firms wasted £194 billion in 2015 …

Businesses in the UK waste 5.2% of revenue each year due to poor cost management, according to a survey by the Chartered Institute of Management Accountants (CIMA). The survey was conducted to inform CIMA’s Cost Transformation Model – a planning and control framework for transforming and managing a business’s cost-competitiveness. In 2015, the total amount […]

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A closer look at the government’s reform to grants funding

A report from Business Advice and Grant Tree outlines some of the proposed changes to grant funding. Cheriton believes that grants are still a great way to fund innovation and encourage new ideas – let’s keep them…    

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Crowdfunded technology investment to top $8bn by 2020

Total funds raised on technology-based campaigns could see a seven-fold increase, according to a report by Juniper.  

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Government looks to reduce deficit by swapping R&D grants with interest bearing loans…

It’s breath-taking that the UK government can seek to reduce its own debt burden by transferring that same burden to small businesses – specifically to the most innovative of the UK’s SME sector… Driven by the exchequer’s target to cut the deficit, Innovate UK, under the department of business, innovation and skills (BIS) misguided leadership looks […]

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Cash is still king, but hoarding it doesn’t help the recovery.

Ongoing uncertainty both at home and abroad are causing UK businesses to sit on cash surpluses, according to a new survey from the Institute of Chartered Accountants in England and Wales. ICAEW’s director of business Stephen Ibbotson said: “The results suggest that businesses have learnt their lessons from the 2007 financial crisis. We have seen […]

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The high price of cheap UK labour

2014 saw the UK grow faster than any of the G7 countries, but at the cost of having one of the lowest productivities.  To quote the Economist “The French could take Friday off and still produce more than Britons do in a week…A British employee produces a fifth less than a French one, but he […]

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How to get funding for the advice you need to grow your business

The government funded Growth Vouchers programme helps businesses get strategic business advice on: – Finance and cash flow – Recruiting and developing staff – Improving leadership and management skills – Marketing, attracting and keeping customers – Making the most of digital technology Some businesses will be randomly chosen to get a voucher of up to […]

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SMEs bear the brunt of £10bn cost of tax compliance

According to a poll of 500 businesses, conducted by the Association of Accounting Technicians (AAT), UK businesses are hit by £10bn a year in extra tax costs, with the majority falling on SMEs. The AAT found that SMEs spend approximately £9.9bn each year on tax compliance compared to just £100m that larger firms are paying. […]

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Call for all FTSE companies to publicly commit to move towards 30 day payment terms for SME suppliers

Brendan Flattery, CEO Sage UK and Ireland calls for all FTSE companies to publicly commit to move towards 30 day payment terms for SME suppliers. In his blog, he points out that the health and vitality of the UK’s SME sector, with a combined turnover of £1.6 trillion is crucial to the economic future of […]

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Late payment culture in a company is set at board level

For the first time the Federation of Small Businesses (FSB) assembled an influential cross-party group of MPs to identify possible solutions to the deterioration of payment practises in the UK. Hosted by Debbie Abrahams MP, who has previously convened her own cross-party inquiry into the issue, she said: “Late payment is something that CEOs and […]

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Financial direction with a commercial edge