Confederation of British Industry (CBI)

Almost One Million Small Businesses Plan to Trade Overseas by 2025

Almost One Million Small Businesses Plan to Trade Overseas by 2025

880,000 small firms plan to expand overseas by 2025, making exporting the second biggest element to small business’ growth strategies, according to research by Everline and the Centre for Economic and Business Research (Cebr) as part of its Small Business Tracker. Despite ambitious export plans, Confederation of British Industry (CBI) data shows that small business exports are at their lowest rate since 2009 with 46% of companies having revealed that their export levels have fallen with many citing price constraints as the main cause. Hiring more staff was found to be the preferred method of growth among small businesses, with 39% small firms naming recruitment as integral to their expansion plans. Regarding exporting, responses varied according to region and industry. London-based busines... »

Small Firms Potentially Losing up to £110m Due to Unstable Currencies

Small Firms Potentially Losing up to £110m Due to Unstable Currencies

The UK’s small and medium-sized companies are potentially losing out on up to £110m every year while making overseas transactions due to unstable currency markets, a report by moneycorp has revealed. According to the research, small overseas traders could be unknowingly falling victim to currency market fluctuations and, while the number of UK small businesses exporting has increased (the latest figure totalling 223,000), this could be detrimental to a small firm’s exporting success. The findings come just one day after a report by the Confederation of British Industry (CBI) announced that small business export rates have hit their lowest rate since the recession. Andy Reid, a managing director at moneycorp, commented: “British businesses have a huge amount to offer to the internatio... »

Coalition must “Save Love” for SMEs

An influential committee of small business experts calls today for quick action to establish a recovery plan for the country’s 4.8m Small and Medium Sized Enterprises (SMEs). ACCA’s (the Association of Chartered Certified Accountants) SME Committee is an independent forum of entrepreneurs, accounting practitioners, academic researchers, bankers and finance experts. Its membership includes the British Chambers of Commerce (BCC), the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB), the Forum of Private Business (FPB), the Institute of Directors (IoD) and the European Association of Craft, Small and Medium-sized Enterprises (UEAPME). ACCA which provides secretarial support to the Committee, believes it to be the widest and most important non-gover... »

Business Groups Divided over Interest Rate Cut

Small–business groups are divided about whether the Bank of England should cut interest rates – while some argue that a cut is needed to boost growth, others claim it is not possible because of rising inflation. The dispute follows the publication of a new survey by the Confederation of British Industry (CBI), which predicts that the rate of inflation is likely to exceed three per cent for the rest of 2008, peaking at 3.8 per cent in the third quarter. The CBI also forecasted that the UK economy would grow at the slowest rate for 17 years in 2009. “The high level of inflation in the short-term prevents the Bank of England from reducing rates for much of this year,” said CBI director general Richard Lambert. “But once the peak in inflation has passed, we believ... »