bibby financial services

Small Businesses Ready to Take On The World, As Export Activity Doubles

Small Businesses Ready to Take On The World, As Export Activity Doubles

The number of UK small businesses investing in exporting has almost doubled in the past year, suggesting many remain unfazed by Brexit – according to a report by Bibby Financial Services (BFS). The SME Confidence Tracker, which tracks the sales performance, investment intentions and confidence of small enterprises, revealed that 15% of respondents invested in export activity in Q3 2016, compared to just 8% in Q3 2015. 22% manufacturers said they have also invested in overseas trade over the past three months, up from just 15% in Q2 2016, suggesting smaller businesses are on the hunt for growth beyond the domestic market. On the topic of the UK’s decision to leave the European Union, 37% of those surveyed said June’s historic referendum decision has not impacted their business in anyw... »

Non-Paying Customers Leave 1.4 Million Businesses Out of Pocket

Non-Paying Customers Leave 1.4 Million Businesses Out of Pocket

1.4 million UK small businesses are suffering from bad debt as customers fail to pay them money they are owed, according to a report from Bibby Financial Services. A survey of 1,000 small enterprises, taken before the Brexit vote, revealed that 27% of business owners have written off owed invoices in the past year with the average firm losing £11,829. Companies in the transport and construction sectors are most likely to be kept waiting for payment, with industry culture regarding the nature of billing and lengthy payment terms suggested as possible reasons for this. David Postings, BFS Global chief executive, said: “Bad debt is a chronic problem for small businesses and can lead to staff cuts, delayed investment plans and, at worst, insolvency. “Following the UK’s vote to leave the EU the... »

Financial Choices Vital in “New Era” for Business

With the CBI this week unveiling its vision for a “new era” for businesses, times will undoubtedly change for UK firms says Edward Rimmer, chief executive at independent invoice financier Bibby Financial Services. “Businesses have been scarred by the financial situation they have found themselves in, be this frustration with accessing credit, the knock-on effect of suppliers going into administration or indeed the ongoing problem of late payment. “New regional banking institutions, as the CBI has suggested, would indeed go some way to helping businesses on a local level for example, and enable new sources of credit to be accessed by more firms. “But it is easy to see how a new generation of entrepreneur will rise from the recession, taking fewer risks, managin... »