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If the first half of year is anything to go by, we’re likely to see more High Street names hit the headlines announcing store closures and job losses. 2018 seems to be the year that popular businesses have had to finally address their financial problems head on. Over the last few months, big names like Marks & Spencer, House of Fraser and Mothercare have all announced store closures as part of CVA discussions with their creditors....
Research carried out by the Federation of Small Businesses (FSB) has suggested that self-employed confidence levels have ‘fallen significantly’ over the last year. The FSB’s Small Business Index (SBI) for the UK’s self-employed community stood at +2.8 in the second quarter of this year – a significant fall when compared to the reading of +9.7 recorded in the first quarter of 2018. The SBI also revealed that 28% of UK...
A new report from the Federation of Small Businesses (FSB) has revealed that many small firms in the supply chain of public sector projects suffer as a result of late payment. The study suggests that 25% of small businesses in public supply chains have experienced late payment more than 50% of the time, while only 12% have been provided with the necessary skills to support them. More from the blog: “Late payments remain a...
UK entrepreneurs and small businesses are the ‘engine of the economy’ according to the Head of Savings at Aldermore banking group. Representing five five million enterprises and employing over 15 million people in the UK, these businesses are calling on the government to supply them with ‘more support’. What support are UK entrepreneurs looking for? Aldermore found that 80% of entrepreneurs believe that government...
UK SMEs are urging the government to improve the UK business rates system. In a recent report from banking group Close Brothers, which surveyed the opinions of UK small and medium-sized enterprises, it identified that current support wasn’t working: 71% of SMEs would like the UK business rates system to be made ‘simpler and more flexible’ 49% of SMEs believe that the government is ‘not doing enough’ to help...
