October 17, 2011

SMEs less confident as GDP growth falls

by Jan Harris

Optimism among UK small businesses has taken a battering following a 0.1 per cent downwards revision in GDP growth for the second quarter of this year. According to the Federation of Small Businesses’ (FSB) ‘Voice of Small Business Index’, UK SME confidence fell by 9.6 points from a positive 0.3 to -9.3 in the third […]

October 6, 2011

SME reporting requirement changes could save £600m

by Jan Harris

The government is launching a consultation on proposed changes to financial reporting requirements for SMEs, which could save £600 annually on accounting and administrative costs. The Department for Business, Innovation and Skills’ ‘Audit Exemptions and Change of Accounting Framework’ proposals include giving SMEs more control over whether they have an financial audit or not, rather […]

October 5, 2011

Scottish SMEs focus on Asia for growth

by Jan Harris

The vast majority (90 per cent) of small businesses in Scotland expect to grow over the next year, but more are targeting Asia and Western Europe, rather than America, for expansion. Last year, 17 per cent of Scottish entrepreneurs surveyed by Deloitte said they planned to focus on America for expansion over the following three […]

April 15, 2011

RBS supports SMEs with new loan scheme

by Jan Harris

RBS is planning to help SMEs secure funding through the launch of a publicly-funded loan scheme which will be available to clients whose funding applications have been turned down. Acknowledging that some SMEs slip through the funding net, Stephen Hester, RBS’s chief executive, said it was in the bank’s interest to support the small corporate […]

February 15, 2011

National Australia boosts small business services

by Jan Harris

New services for UK SMEs have been announced by Clydesdale and Yorkshire Banks, which are both owned by National Australia Bank. The services, which will be targeted at businesses with turnovers of less than £1 million or borrowing of less than £250,000, are the result of a review of the sector by the Banks’ Director […]

October 11, 2010

SMEs put broadband before gas and water

by Jan Harris

UK SMEs rank broadband as more important than basic utilities such as gas and water, according to a survey by XLN Telecom. Over three quarters of the SMEs questioned said broadband was an essential tool, while 67% said business broadband was essential to the running of their company. The telephone was considered most essential, with […]