Credit ratings expert calls SMEs to show 'financial transparency' if they want to avoid lending decisions being based on accounts compiled during the recession
Confidential financial information may have to be disclosed by small and medium sized companies if they want to avoid lending decisions being based on accounts compiled during the recession.
An economic upturn is expected in 2010 but credit decisions for small to medium enterprises, the bedrock of the UK economy, may be based on statutory accounts two years old, a credit ratings expert and the UK’s largest trade credit insurer have warned.
Read more: http://www.accountancyage.com/accountancyage/news/2244769/smes-show-financial
Source: Accountancy Age - Written by David Jetuah
www.ukba.co.uk
Showing posts with label finances. Show all posts
Showing posts with label finances. Show all posts
Thursday, 2 July 2009
Wednesday, 6 May 2009
Small businesses losing faith in Government following 2009 Budget
In all, 97% of respondents to the organisation's post-Budget online survey believe nothing has been done to ease the burden of costs they face and 94% feel that the Budget did not address the issues threatening the survival of their businesses.
Fewer than 1% of business owners surveyed thought that the Budget was an effective response to the needs of their businesses. 68% of respondents said it would prove to be 'ineffective' and a quarter that it would prove to be 'harmful' to their businesses. Small firms were more positive about measures announced in the Pre-Budget Report than the Budget according to the FPB's most recent Referendum quarterly survey of members, which was conducted in March 2009. 6% of the business owners taking part said the Pre-Budget Report contained effective measures, 63% believed it was ineffective and 16% deemed it harmful to their businesses.
66% of businesses surveyed before the Budget announcement said that restoring business confidence should be prioritised. In addition, 64% felt that the Government should address plummeting consumer confidence. However, in the latest survey, 91% of small business owners felt that the Budget did not address these issues.
Read more here: http://www.fpb.org/news/2183/Small_businesses_losing_faith_in_Government_following_2009_Budget.htm
www.ukba.co.uk
Fewer than 1% of business owners surveyed thought that the Budget was an effective response to the needs of their businesses. 68% of respondents said it would prove to be 'ineffective' and a quarter that it would prove to be 'harmful' to their businesses. Small firms were more positive about measures announced in the Pre-Budget Report than the Budget according to the FPB's most recent Referendum quarterly survey of members, which was conducted in March 2009. 6% of the business owners taking part said the Pre-Budget Report contained effective measures, 63% believed it was ineffective and 16% deemed it harmful to their businesses.
66% of businesses surveyed before the Budget announcement said that restoring business confidence should be prioritised. In addition, 64% felt that the Government should address plummeting consumer confidence. However, in the latest survey, 91% of small business owners felt that the Budget did not address these issues.
Read more here: http://www.fpb.org/news/2183/Small_businesses_losing_faith_in_Government_following_2009_Budget.htm
www.ukba.co.uk
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