Fraud is Costing Small Businesses £22bn a Year

Over 40% of small businesses have experienced fraud in the last year, according to research conducted by Sage Fraud costs small and mid-sized businesses an estimated £22bn a year, according to a new report published by Sage Pay. In the last 12 months, businesses lost an average of £4,515 each as many remain unprotected or oblivious to the fraud prevention they do have in place. The study confirmed that over 40% of small and mid-sized businesses had experienced fraud in the last year, however 39% still have no fraud protection established. Furthermore, of those that have purchased some type of protection, 21% don’t know what the prevention tools do and 42% don’t know if they comply with Payment Card Industry Data Security Standards(PCI DSS). The report listed several ways of reducing the ch... »

Business Mentoring Could Enable 5 Million Small Businesses to Double Turnover

Sage statistics reveal business mentoring is an acknowledged advantage to small businesses but barriers mean only 22% of businesses surveyed currently use mentors Closing the ‘mentoring gap’ could enable nearly five million small businesses to potentially double their turnover – generating a boost to the UK economy of millions of pounds – according to research published by software firm Sage. In a survey of over 11,000 small and medium sized enterprises across 17 countries, 89% of participants acknowledged that mentoring would help their business to succeed. However only 22% of the businesses surveyed presently make us of business mentors. The report follows separate but supporting results from the Department for Business Innovation and Skills which showed that 44% of mentored small busine... »

Cloud Technology “Revolutionising Enterprise Software for Small Businesses”

Survey with financial directors of small and mid-sized businesses reveals 31% believe the cloud is making enterprise resource planning more flexible A YouGov Survey released by Sage UKI shows that cloud computing is making enterprise resource planning (ERP) technology, traditionally big business territory, a more workable tool for small and mid-sized businesses. The survey, conducted with financial directors of small businesses in the UK, shows that 31% of directors felt that the cloud made ERP more flexible, with 30% stating it was now more affordable. Furthermore, those surveyed believe that the cloud’s influence on ERP will have an effect on the future of their business, with 27% believing that it will increase return investment. Though the above figures were encouraging, there is still... »