Mark Berrisford-Smith, the Head of Economics for HSBC UK Commercial Banking, gave an insightful address to Buckinghamshire Business First’s Focus Funding event in High Wycombe last week. He opened with the comment that the next economic downturn is closer than the last and then went on to say that can’t be a surprise since the […]
Continue ReadingOngoing 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 […]
Continue ReadingWith the average French worker producing in four days what the average British worker does in five, the productivity of UK business is not helped by excessive government bureaucracy. Confounding stereotypes, Italians are 9% more productive than the British and of the 15 initial members of the EU, only Greece and Portugal now have lower […]
Continue ReadingThe Forum of Private Business has released a manifesto outlining what the next government should do to support small businesses. With BACS reporting that chasing late payment costs businesses £9.2bn a year, prompt payment remains top of the agenda. The Manifesto sets out measures for the start, mid-term and end of a term in Parliament, […]
Continue ReadingThe budget was followed last week by the Royal Assent for the Small Business, Enterprise and Employment (SBEE) Act. However, whether big companies take any real notice of paying SMEs on 30 day terms remains to be seen. The Act is silent on real detail. John Allan, national chairman of the Federation of Small Businesses […]
Continue ReadingThe 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 […]
Continue ReadingA “massively underhand cash grab” was how one supplier was reported in The Times as describing the approach by the DIY giant B&Q demanding contributions to an “investment-for-growth” programme. B&Q is facing claims that it threatened its suppliers by demanding they pay hundreds of thousands of pounds to stay on its books. This follows The […]
Continue ReadingAccording 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. […]
Continue ReadingBrendan 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 […]
Continue ReadingThree quarters of the British public agree that the next Government should take action on big business ethics. This includes the government committing to penalising corporates that act unfairly towards small businesses in areas such as supply chain contracts and late payment. The majority of the British public believes that policy to promote ethical practices […]
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