According to research from insolvency firm Begbies Traynor, on October 1 2016 there were 97,342 businesses experiencing financial distress within the sectors most impacted by the National Living Wage; a 23 per cent increase compared to six months earlier when the regulation was first introduced (78,917 businesses as of April 1 2016). This figure includes 33,835 retailers,
The post Small businesses in financial distress as a result of National Living Wage appeared first on Small Business.
Tag Archive for Uncategorized
Hot Business News Today
Youngsters lacking confidence in job prospects
by Ben Lobel • • 0 Comments
Some 56 per cent of young people are concerned about their job prospects, feeling it is difficult to get the experience they need to get a job they want, according to a report by the Chartered Management Institute (CMI) and EY Foundation. These factors affect those from lower-socio economic groups, who are considerably more likely than their
The post Youngsters lacking confidence in job prospects by Ben Lobel appeared first on Small Business.
Hot Business News Today
Job hunters warned to be vigilant as scammers target graduates
by Ben Lobel • • 0 Comments
As the new university term begins, a study by CV-Library has revealed that graduate job hunters are being targeted by online scammers, with one in three job scam victims admitting they are either currently at university or graduated within the last year. However, the majority of graduates are unaware of the threat, with 82.4 per cent believing they are not being
The post Job hunters warned to be vigilant as scammers target graduates by Ben Lobel appeared first on Small Business.
Hot Business News Today
Businesses do not feel supported by their banks
by Ben Lobel • • 0 Comments
This feeling is most pronounced in the category of businesses turning over less than £1 million, in which 30 per cent claim to feel ‘unsupported’ by banks. The study, commissioned by P2P finance specialist Nucleus Commercial Finance, also reveals SMEs are in the dark regarding the notice periods on their business overdrafts. Some 40 per cent of SMEs claim their
The post Businesses do not feel supported by their banks by Ben Lobel appeared first on Small Business.
Hot Business News Today
Small businesses writing off mountains of debt
by Ben Lobel • • 0 Comments
When asked how much money their business had written off in unpaid debt in the previous financial year, around one in five (19 per cent) businesses say they had written off debts at an estimated average loss of £31,330. However, almost one in ten (nine per cent) of these SMEs claimed to have written off debts
The post Small businesses writing off mountains of debt by Ben Lobel appeared first on Small Business.
Hot Business News Today
Business confidence falls into negative territory
by Ben Lobel • • 0 Comments
The BCM Confidence Index is now in negative territory falling from +0.8 in Q2 2016 to -10.2 this quarter, a fall of 11 points, revealing a picture of faltering business confidence. However, while the Index fell drastically after the EU Referendum, confidence has crept up since that point as businesses take stock. GDP growth is projected to be
The post Business confidence falls into negative territory by Ben Lobel appeared first on Small Business.
Hot Business News Today
Brexit and the road ahead for small businesses and sterling
by Ben Lobel • • 0 Comments
Theresa May, new prime minister, has said ‘Brexit means Brexit’ and now it’s time for businesses to start planning for it. We have already seen some big movement on sterling exchange rates but what is next and just how can businesses plan for the future? Brexit has had instant drawbacks, notably the plummeting value of
The post Brexit and the road ahead for small businesses and sterling by Ben Lobel appeared first on Small Business.
Hot Business News Today
Why sports sponsorship can be rewarding for small businesses
by Ben Lobel • • 0 Comments
Sports sponsorship may seem to be the reserve of large multinationals; the likes of Coca-Cola, Sony or McDonald’s. But it doesn’t have to be like that. Small businesses can also derive significant value, generating substantial publicity for a relatively small investment. Smaller businesses may feel like they don’t have the marketing machinery, or budgets, to
The post Why sports sponsorship can be rewarding for small businesses by Ben Lobel appeared first on Small Business.