business competitions

Increased Competition Named as Small Businesses Biggest Threat

Rising material costs and red tape barriers named as other major concerns for companies A new report by Bibby Financial Services revealed start-up rates were at their highest in five years, with 24% of small and medium firms stating that an increase in competition was their biggest concern. According to Companies House data there were 54,336 incorporations in March with figures continuously rising since the recession ended (see graph below). The research, which involved a survey of 1,000 businesses, also highlighted other key concerns for small and mid-sized business. Rising raw material costs (15%) was listed as the second biggest threat (13%), followed by barriers due to red-tape (13%), access to finance (9%) and a lack of skilled staff (8%). David Postings, UK CEO of Bibby Financial Ser... »