Britain's big energy companies are forcing up to 250,000 small businesses to pay for their energy up to six months in advance.
In the current economic climate with cash flow tight for many small firms there are concerns that this new stance from energy companies could force some SMEs out of business.
Alistair Buchanan, chief executive of Ofgem, the energy regulator, called the companies to a meeting in London last week to express mounting concern about the practice.
"The energy companies have started using very aggressive tactics.... But asking for money upfront puts businesses in an even more precarious position," said Stephen Alambritis of the Federation of Small Businesses.
www.ukba.co.uk
Showing posts with label sme. Show all posts
Showing posts with label sme. Show all posts
Monday, 31 August 2009
Wednesday, 10 June 2009
Any business considering applying for a grant under Nottingham University’s Business Innovation Voucher fund should do so immediately. The fund closes on 30th June 2009.
Through the scheme, companies can cash in to the tune of £5,000 and “purchase” academic expertise from the University to help them work on innovative business development projects. Vouchers can cover up to 75% of the total cost of projects that aim to develop new products, processes or services – for example academic consultancy, technical services and small-scale research projects. In exceptional cases, companies may also be eligible for an additional £2,000 worth of support from the University’s Ingenuity initiative.
The scheme is open to applications from all UK-based SMEs, although priority will be given to firms from the East Midlands.
Vouchers will be allocated to companies that:
§ Can demonstrate evidence of real need to work with the University.
§ Are interested in developing products, processes or services that are aligned with the University's particular research interests.
For further information about the Business Innovation Voucher Scheme, contact martin.parry@mgba.co.uk, or visit the University of Nottingham website
Source http://www.j4b.co.uk http://www.mgba.co.uk
www.ukba.co.uk
Through the scheme, companies can cash in to the tune of £5,000 and “purchase” academic expertise from the University to help them work on innovative business development projects. Vouchers can cover up to 75% of the total cost of projects that aim to develop new products, processes or services – for example academic consultancy, technical services and small-scale research projects. In exceptional cases, companies may also be eligible for an additional £2,000 worth of support from the University’s Ingenuity initiative.
The scheme is open to applications from all UK-based SMEs, although priority will be given to firms from the East Midlands.
Vouchers will be allocated to companies that:
§ Can demonstrate evidence of real need to work with the University.
§ Are interested in developing products, processes or services that are aligned with the University's particular research interests.
For further information about the Business Innovation Voucher Scheme, contact martin.parry@mgba.co.uk, or visit the University of Nottingham website
Source http://www.j4b.co.uk http://www.mgba.co.uk
www.ukba.co.uk
Thursday, 21 May 2009
Around 60% of small and medium-sized firms in London are concentrating on expanding their businesses during the recession
The survey of more than 3,000 small businesses in the capital found that despite three-quarters being affected by the economic downturn the majority of small firms do not want to just consolidate their firm, but actually expand.
The poll also found that 42% of small companies are looking to exploit new business opportunities and 17% are developing new products and services to increase their market share.
"There's a great deal of optimism in the face of the recession, with the majority of SMEs remaining committed to growth," said Patrick Elliott, chief executive of Business Link in London
Source: Business Link London.
www.ukba.co.uk
The poll also found that 42% of small companies are looking to exploit new business opportunities and 17% are developing new products and services to increase their market share.
"There's a great deal of optimism in the face of the recession, with the majority of SMEs remaining committed to growth," said Patrick Elliott, chief executive of Business Link in London
Source: Business Link London.
www.ukba.co.uk
Tuesday, 21 April 2009
Business Owners lifestyle not being impacted by recession
Small and medium-sized businesses owners are not radically altering their lifestyle or cutting back on business essentials because of the recession, according to research by independent financier Bibby.
The research revealed that 49% are not cutting back on expensive items such as blackberries or company cars, 70% are not seeing any less of their family due to extra work commitments and 63% are continuing with holiday plans or other time off.
"Whereas previously business owners may have been prepared to neglect their personal lives in order to sustain their business, these days they recognise the importance of trying to maintain some sort of work life balance, instead seeing time away from the business, such as holiday, as a tool to help them survive," said Ed Rimmer, chief executive of Bibby Financial Services.
www.ukba.co.uk
The research revealed that 49% are not cutting back on expensive items such as blackberries or company cars, 70% are not seeing any less of their family due to extra work commitments and 63% are continuing with holiday plans or other time off.
"Whereas previously business owners may have been prepared to neglect their personal lives in order to sustain their business, these days they recognise the importance of trying to maintain some sort of work life balance, instead seeing time away from the business, such as holiday, as a tool to help them survive," said Ed Rimmer, chief executive of Bibby Financial Services.
www.ukba.co.uk
Monday, 20 April 2009
More than a quarter of small businesses are seeing an increase in demand for their services and products
In the Forum of Private Business (FPB) monthly economic survey 26% of small firms reported a rise in the market for their goods and services, compared to 23% that experienced a decline. Just over 50% of respondents saw no change.
This is the first time since the panel was launched in November that more business owners have experienced positive rather than negative market conditions.
8% of small business also revealed that access to finance had improved - compared with the previous month's survey where not one respondent reported this.
"In order to capitalise on these positive signs, the government must launch a long-term, strategic plan in the forthcoming Budget; one that helps small businesses survive and grow, and become a catalyst to broader economic prosperity," said Phil Orford, FPB chief executive.
www.ukba.co.uk
This is the first time since the panel was launched in November that more business owners have experienced positive rather than negative market conditions.
8% of small business also revealed that access to finance had improved - compared with the previous month's survey where not one respondent reported this.
"In order to capitalise on these positive signs, the government must launch a long-term, strategic plan in the forthcoming Budget; one that helps small businesses survive and grow, and become a catalyst to broader economic prosperity," said Phil Orford, FPB chief executive.
www.ukba.co.uk
Saturday, 21 February 2009
Almost half of staff believe they work better away from the office
Almost half of employees believe that they work more effectively remotely but only 8% of managers trust their staff to work out of the office, according to research conducted by YouGov.
The research, commissioned by BT Business and Nortel, revealed that 42% of staff feel that they could work better remotely but, despite a raft of new technology, business owners are reluctant to allow their staff to work away from the office.
With many small businesses currently struggling in the current crisis SME owners are being advised that being flexible and allowing staff to work remotely could provide their firm with a boost.
"This boils down to a matter of trust. In the current climate, small firms need to be operating at full stretch," said John Wright, national chairman of the Federation of Small Businesses.
"Last week's bad weather demonstrated the need for British businesses to enable their employees to be productive, wherever they are."
The research, commissioned by BT Business and Nortel, revealed that 42% of staff feel that they could work better remotely but, despite a raft of new technology, business owners are reluctant to allow their staff to work away from the office.
With many small businesses currently struggling in the current crisis SME owners are being advised that being flexible and allowing staff to work remotely could provide their firm with a boost.
"This boils down to a matter of trust. In the current climate, small firms need to be operating at full stretch," said John Wright, national chairman of the Federation of Small Businesses.
"Last week's bad weather demonstrated the need for British businesses to enable their employees to be productive, wherever they are."
Monday, 2 February 2009
Anderson Review - Government Regulatory Guidance for SMEs
The 2008 Enterprise Paper asked Sarah Anderson to undertake an independent Review of how to improve the regulatory guidance that the Government gives to business.
As part of this Review, Sarah and the Anderson Review Secretariat met over 90 SMEs, at a number of group discussions and one-to-one interviews, between March and July 2008. These SMEs represented a range of different sectors and sizes, from sole traders to medium sized businesses with over 200 employees.
The primary aim of these meetings was for the Review to gain a better understanding of how businesses felt about guidance and how they went about achieving regulatory compliance. Specifically, these meetings looked to establish:
· how SMEs felt about government guidance in general;
· to what extent businesses felt they were able confidently to comply with regulation using government guidance;
· if there existed specific regulatory areas where businesses found guidance particularly difficult or complicated;
· to what extent businesses felt current government guidance provisions were effective.
Findings:
Businesses had positive views of some areas of government guidance.
· guidance available from regulators websites attracted positive comments.
· the telephone and web support available from HMRC was considered to be very good.
· comments from businesses which used the businesslink.gov.uk website varied from useful to very good.
· the guidance relating to the smoking ban was felt to have been very effective.
Businesses had concerns around certain areas of government guidance and
regulation. Businesses:
· found that the volume of, and regular changes to, regulation and guidance made it more difficult for them to run their business effectively.
· highlighted employment and health and safety regulations as areas where they found compliance most difficult.
· found that even when guidance was available it was difficult to be certain that following it would mean they were complying with the law.
· had concerns about where and how to access guidance.
· found that guidance was often not written clearly, in plain English, and that this complexity made compliance problematic.
· said regulatory change was not communicated to them effectively and that inspectors focused on enforcement rather than on helping SMEs comply.
The full summary is available here: http://www.ukba.co.uk/file49882.pdf
The full report is available here: http://www.ukba.co.uk/file49881.pdf
http://www.ukba.co.uk
As part of this Review, Sarah and the Anderson Review Secretariat met over 90 SMEs, at a number of group discussions and one-to-one interviews, between March and July 2008. These SMEs represented a range of different sectors and sizes, from sole traders to medium sized businesses with over 200 employees.
The primary aim of these meetings was for the Review to gain a better understanding of how businesses felt about guidance and how they went about achieving regulatory compliance. Specifically, these meetings looked to establish:
· how SMEs felt about government guidance in general;
· to what extent businesses felt they were able confidently to comply with regulation using government guidance;
· if there existed specific regulatory areas where businesses found guidance particularly difficult or complicated;
· to what extent businesses felt current government guidance provisions were effective.
Findings:
Businesses had positive views of some areas of government guidance.
· guidance available from regulators websites attracted positive comments.
· the telephone and web support available from HMRC was considered to be very good.
· comments from businesses which used the businesslink.gov.uk website varied from useful to very good.
· the guidance relating to the smoking ban was felt to have been very effective.
Businesses had concerns around certain areas of government guidance and
regulation. Businesses:
· found that the volume of, and regular changes to, regulation and guidance made it more difficult for them to run their business effectively.
· highlighted employment and health and safety regulations as areas where they found compliance most difficult.
· found that even when guidance was available it was difficult to be certain that following it would mean they were complying with the law.
· had concerns about where and how to access guidance.
· found that guidance was often not written clearly, in plain English, and that this complexity made compliance problematic.
· said regulatory change was not communicated to them effectively and that inspectors focused on enforcement rather than on helping SMEs comply.
The full summary is available here: http://www.ukba.co.uk/file49882.pdf
The full report is available here: http://www.ukba.co.uk/file49881.pdf
http://www.ukba.co.uk
Monday, 26 January 2009
SME statistics
There were an estimated 4.71 million private sector enterprises in the UK at the start of 2007, an increase of 212,0003 (4.8 per cent) on the start of 2006.
These levels are the highest since the time series began in 1994. These enterprises employed an estimated 22.7 million people, and had an estimated combined annual turnover of £2,800 billion.
Small and medium-sized enterprises (SMEs) together accounted for 99.9 per cent of all enterprises, 59.2 per cent of private sector employment and 51.5 per cent of private sector turnover.
Employment in SMEs is estimated at 13.5 million, 0.3 million (2.0 per cent) higher than in 2006. Turnover in SMEs is estimated at £1,440 billion, £83 billion (6.1 per cent) higher than 2006. Almost a quarter (24 per cent) of all UK private sector enterprises operate in the Business Services sector (SIC2003 Section K).
Read more: http://stats.berr.gov.uk/ed/sme/smestats2007-ukspr.pdf
http://www.ukba.co.uk
These levels are the highest since the time series began in 1994. These enterprises employed an estimated 22.7 million people, and had an estimated combined annual turnover of £2,800 billion.
Small and medium-sized enterprises (SMEs) together accounted for 99.9 per cent of all enterprises, 59.2 per cent of private sector employment and 51.5 per cent of private sector turnover.
Employment in SMEs is estimated at 13.5 million, 0.3 million (2.0 per cent) higher than in 2006. Turnover in SMEs is estimated at £1,440 billion, £83 billion (6.1 per cent) higher than 2006. Almost a quarter (24 per cent) of all UK private sector enterprises operate in the Business Services sector (SIC2003 Section K).
Read more: http://stats.berr.gov.uk/ed/sme/smestats2007-ukspr.pdf
http://www.ukba.co.uk
Wednesday, 21 January 2009
Help for small businesses
Various funds have been made available for small businesses:
Working Capital Scheme
£10 billion available to assist companies with T/O less than £500 million, who are having Working Capital Problems.
50% is guaranteed by the Government
Enterprise Finance Guarantee Scheme
£1.3 billion earmarked for loans to companies with <£25 million T/O and the loans are between £1,000 and 1 million!!
Capital for Enterprise Fund
£75 million (£50m from Government) enables companies urgenbtly needing a cash injection to sell debt in return for a stake in the business. Firms with a turnover of <£50 million will be able to obtain equity and quasi equity investment of between £250,000 and £2 million.
http://www.ukba.co.uk
Working Capital Scheme
£10 billion available to assist companies with T/O less than £500 million, who are having Working Capital Problems.
50% is guaranteed by the Government
Enterprise Finance Guarantee Scheme
£1.3 billion earmarked for loans to companies with <£25 million T/O and the loans are between £1,000 and 1 million!!
Capital for Enterprise Fund
£75 million (£50m from Government) enables companies urgenbtly needing a cash injection to sell debt in return for a stake in the business. Firms with a turnover of <£50 million will be able to obtain equity and quasi equity investment of between £250,000 and £2 million.
http://www.ukba.co.uk
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