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Half of Small Firms Fail to Back Up Data

Half of Small Firms Fail to Back Up Data

More than half of small businesses are at risk of losing critical information by failing to back up company data, research from communications firm Unicom has found. A Unicom survey of 800 small firms revealed that 55 per cent did not back up their data at all, leaving themselves completely unprotected. The remainder used different back-up methods, with 14 per cent choosing to back up their files to another PC, six per cent backing up online, five per cent using tape storage for back up files, and 20 per cent using another method. A lack of know-how by firms and the perceived ‘hassle-factor’ were the two main reasons for not backing up company files, according to the poll. But data stored on work computers was often ‘crucial’ to the running of the company, Unicom&rs... »

Grant Funding Scheme Turns Down 99 Per Cent of Applicants

Grant Funding Scheme Turns Down 99 Per Cent of Applicants

As few as one per cent of small firms that have applied for funding through the Government’s Enterprise Finance Guarantee (EFG) scheme have received help, according to a survey by financial adviser Clifton Asset Management (CAM). The survey of 1,000 small businesses also found that just 68 per cent had heard of the scheme – and almost all of these (93 per cent) did not think it would be worth applying for because the application criteria is so tight. The EFG scheme was announced in January this year, and is a Government initiative supporting up to £1.3 billion of new lending to viable businesses with a turnover of up to £25 million. Under the terms of the scheme, banks are advised to lend to businesses that they would be happy to lend to commercially, regardless of ... »