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Small businesses wait three weeks longer than larger companies to get paid
Small business’ average wait for payment has increased by one week, growing to an average of 71 days Small and mid-sized businesses (under £1m) wait on average 71 days to receive payment on invoices,...
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Government introduces raft of measures to help home-based businesses
Business rates guidance and property legislation amongst new package of support Business minister Matthew Hancock has today unveiled a series of new measures which aim to give entrepreneurs “greater...
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New research reveals a third of UK firms are complacent about finances
Small to medium sized businesses cite a lack of time and fear of being penalised as reasons for never switching finance provider A third of small and medium-sized UK businesses have never changed their...
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Small businesses major contributors to continued economic growth
Government report reveals service industry was strongest sector in 2014 with 77% of the UK’s total output The Department of Business, Innovation and Skills’ (DBIS) Growth Dashboard for 2014 has...
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One in four small businesses do not have a business plan for growth
Two in five do not have any succession plan Despite being recognised as an essential tool in supporting business growth, 23% of small businesses have no business plan in place according to new research...
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A quarter of small firms work 51 hour weeks or more
Small business owners content to work excessive hours yet health and productivity could be at risk The majority of small business owners (68%) exceed the standard 35 hour week with 25% of entrepreneurs...
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UK economy expected to grow further than initial expectations in 2015
Confederation of British Industry warns businesses could still struggle in light of ongoing global economic worries The UK economy will grow at an even faster rate than had previously been expected...
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Government to reduce late payments with introduction of major changes
30 day payment terms to become standard as business minister Matthew Hancock announces improvements to the Prompt Payment Code Business minister Matthew Hancock has declared changes to the Prompt...
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Online consumer spend to rise to £645bn
Huge potential for online businesses at home and overseas as e-commerce market is predicted to double by 2018 The UK online retail market, along with other world leading e-commerce markets, looks set...
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Third of micro-businesses overwhelmed by accounting
Worrying number of small and micro-businesses use a pen and paper as their main method for managing financial accounts More than a third (34%) of micro-businesses have felt overwhelmed by their...
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