Article 50

99% Of Senior Finance Executives Say Their Business Will Increase Spending Next Year

99% Of Senior Finance Executives Say Their Business Will Increase Spending Next Year

99% of senior finance executives say their business will increase spending and investment over the next 12 months, according to a survey by American Express. The 2017 Global Business and Spending Outlook, which surveyed 100 senior finance executives at companies in the UK with annual revenues of $500m or more, revealed that businesses are bullish despite political and economic uncertainty. In order to stay competitive against international competition, respondents are planning to spend more on customer service (67%), technology infrastructure (51%) and recruitment (48%) as a priority. While businesses are also looking to strengthen financial reporting and compliance (37%), production inputs (35%) and advertising, marketing and PR (31%) – as transparency becomes increasingly important for c... »

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

UK medium-sized businesses have reported that their overseas turnover is up 50% since 2011, according to a report from the BDO. Outperforming UK FTSE 350 and smaller firms, medium-sized enterprises generated £127bn in 2016 – up from £84bn five years previously. Despite the backdrop of Brexit in 2016, the “economic engine” of the UK economy remained buoyant and increased its international sales from £119bn to £127bn – a 7% rise. In contrast, the levels of overseas trade of FTSE350 and small businesses in 2016 fell 30% (from £524bn to £366bn) and 13% (from £12bn to £10.4bn) respectively. With Article 50 negotiations set to begin from Wednesday, the government has been urged to consider the significant of small and medium sized businesses to the economy – with the UK’s 30,000 medium firms acc... »

Triggering Of Article 50 Won’t Stop Consumers Buying Premium Goods

Triggering Of Article 50 Won’t Stop Consumers Buying Premium Goods

The triggering of Article 50 next week is unlikely to deter consumers from buying premium brands over the next two years, a new report has revealed. A survey from the Centre for Retail Research and Rakuten Marketing, which interviewed 1,000 UK consumers, has discovered that although consumer prices are rising at an annual rate of more than 3% – few shoppers have any intention of changing their spending habits. Just 6% of respondents claim they’d flat out refuse to buy an item if faced with a price increase of 10%, with 62% saying they’d purchase their favourite premium brand regardless. A tipping point does exist, however, as a 15% price would cause 21% of shoppers to switch to a cheaper competitor. An important consideration for ecommerce businesses, 57% of online buyers are not pre... »

Business Owners More Worried About Europe Than Britain Post-Brexit

Business Owners More Worried About Europe Than Britain Post-Brexit

UK small business owners are more worried about the future of the European market than the domestic one, according to a new report by Idinvest Partners. The survey of 1,500 people revealed that 57% would describe themselves as “optimistic” when thinking about the UK economy over the next 12 months, with respondents 10% more concerned about Europe’s performance in the same period. Just 59% said they were pessimistic about the country’s future economic performance and a potential rise in inflation. With Article 50 set to be triggered next month, access to the single market (30%), raising finance (29%), and red tape (23%) were signalled as being the main causes of concern – with 47% saying that personal savings will be their most likely source of funding raising. Christophe Bavière, CEO and B... »