business growth

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... »

Red Tape Holding Back Small Business Growth

Red Tape Holding Back Small Business Growth

UK small businesses are struggling to dedicate time to achieving growth, because red tape and regulations are taking up too much of their time. In a study of 500 small firms by instantprint, respondents were revealed to have spent over 25% of their working week completing admin – instead of looking to expand the business. In contrast, 10% of those surveyed spend less than an hour a week attempting to increase profit, while 8% struggle to find any time whatsoever. When asked about what regulations give business owners the biggest headache, employment law surrounding working hours and holiday allowance was highlighted as significant blight on work efficiency, followed by invoice processing and managing customer service. In terms of solutions, recruitment seems to top the list of small firm o... »

How to Create a Culture of Innovation

How to Create a Culture of Innovation

Innovation can be surprisingly easy to cultivate, provided that you’re giving it the conditions it needs to thrive. Without innovation, any business will be left in the dust. The sky is the limit when it comes to creativity, and the seeds you need to plant may already be dormant in the minds of your employees. By making small changes that encourage a creative mindset, your employees will naturally feel compelled to share their ideas. Keep the conversation channels open If you want the gears in someone’s brain to turn, you’ll need to ask them questions. If workplace conversation is strictly limited to the tasks that need to be completed, no one will be inspired to explore new possibilities. Keep everyone talking. Have meetings frequently, and encourage feedback. Show your employees that the... »

Small Business Expansion: A Checklist

Small Business Expansion: A Checklist

When running a small business, it is hard to determine what is important and whether the costs are justified. As you look for investment or begin to scale up, these issues can become ever more important and may slow your development down. There are several things every business should have in place, regardless of its infancy and these are just some of the key factors to consider: Good advisors Paying for a good lawyer and accountant often seems a lot when you first start out, but they can save you much more in the long run. When you are ready to invite in investment, expand or sell your business their paperwork is absolutely the key to your success. Choose those advisors carefully though because they must understand you and your sector. If you need specialist advice, make sure they have ex... »

Retail And Grocery Businesses Lead Surge in UK E-commerce

Retail And Grocery Businesses Lead Surge in UK E-commerce

UK consumers are continuing to move online to access goods and services with retail businesses benefitting the most from the rising popularity of e-commerce, a new survey by Lifeline IT has revealed. Surveying 1,000 shoppers, the research highlighted that as many as four out of 10 people are now more active online than they were 10 years ago with online retail-particularly fashion, homeware and beauty products – having increased by 38%. Grocery shopping and paying bills were the next two online leaders, with over a third of customers buying their food shopping via the internet and 30% more people using the web to pay bills. Online holiday bookings and prescription purchases and doctor appointments were among other e-commerce trends highlighted in the survey; up 30% and 20% respectively. Ra... »

How to Attract the Best Talent to Your Start-up

Discover how to compete with the big corporations to win top employees who will help your business grow Business is booming, your little start-up is growing into an empire and to move it forward you need to employ new talent. But how do you attract this talent to join your team in such a competitive market? What can you offer that sets your start-up apart from other businesses to ensure you get the best and brightest recruits? The obvious answer might be a big salary, although this is something not necessarily achievable for smaller businesses. While the wages have to be fair, there are other and often more important elements that will make your company a desirable place to work. A business that offers career progression The best new talent will have their eyes on career progression, so de... »

Businesses Unfazed by Election Uncertainty as Optimism Remains High

Overall business confidence is up as firms expect economic growth and hiring intentions remain positive UK firms appear to be undisturbed by the current political uncertainty, with the majority remaining cautiously optimistic for economic growth, according to accountancy firm BDO’s Business Trends report. Both the BDO’s Output and Optimism Indices (predicting three and six month’s economic growth) remained high at 102.9 and 104.4 respectively – representing an increase above the long-term trend rate. Furthermore, many businesses are planning to expand in the imminent future, with employment predictions also above the norm at 111.6. The report revealed that confidence is particularly high in the manufacturing industry (a trend which was also found in a report released last week) with the re... »

London Named as Top City for Fintech Businesses

Three quarters of businesses in financial technology say London is better in terms of infrastructure, access to talent and geographical position The majority (75.6%) of financial technology (fintech) companies believe London is the best place to launch and grow a financial company followed by Edinburgh (37%) and Manchester (26%), according to a recent survey by communications group Seven Hills. London beat infamous business hubs like San Francisco and New York in terms of financial services (81%), access to talent (72%) and geographical position (68%). Respondents of the survey also highlighted key sectors that would grow within the fintech industry with 39% considering mobile payment to be the fastest growing sector, shadowed by peer-to-peer lending at 26%. The survey was released by Seve... »

Number of New Businesses Hits Five Year High

Service businesses such as house and pet sitting experience surge, while traditional industries such as hair and beauty and florists rapidly decline Research by Simply Business has revealed a five year high in the number of start-ups with a 24% increase in new companies launching within the UK, compared to 2013. The report found that new service businesses, such as house sitting, facilities management and pet minding firms, are leading the market – experiencing an increase of 527%, 459% and 199% respectively. This is a stark contrast compared to the performance of more traditional services, with start-ups in the hair and beauty, florist and event organising industries falling. The number of hair and beauty consultant firms witnessed the biggest decrease falling by 73%, followed by florist ... »

Two Thirds of Small Businesses Predict Growth

42% of small firms worry they lack technology, space and talent to meet customer demand Confidence among small businesses continues to grow, with 69% of companies predicting growth of approximately 26% in 2015; however 42% are concerned about their ability to manage their progression. This followed the release of data from the Office for National Statistics (ONS), which showed Britain’s economy is 2.7% above the pre-crisis peak at the end of the second quarter of this year. However, the confidence survey, which was conducted by digital communications company EE and featured 1,000 business owners, found that many are concerned over their inability to meet demand. In particular, companies were worried about access to office space and technology as well as a lack of employees with the right s... »

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