small and medium business

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

Medium-Sized Businesses Are UK’s “Economic Engine” As Overseas Turnover Up 50% Since 2011

UK medium-sized businesses have reported that their overseas turnover is up 50% since 2011, according to a report from the BDO. Outperforming UK FTSE 350 and smaller firms, medium-sized enterprises generated £127bn in 2016 – up from £84bn five years previously. Despite the backdrop of Brexit in 2016, the “economic engine” of the UK economy remained buoyant and increased its international sales from £119bn to £127bn – a 7% rise. In contrast, the levels of overseas trade of FTSE350 and small businesses in 2016 fell 30% (from £524bn to £366bn) and 13% (from £12bn to £10.4bn) respectively. With Article 50 negotiations set to begin from Wednesday, the government has been urged to consider the significant of small and medium sized businesses to the economy – with the UK’s 30,000 medium firms acc... »

A Small Business Owners Guide to Using a Consultant

A Small Business Owners Guide to Using a Consultant

Whether for marketing, efficiency or another purpose, bringing a consultant is a necessary part of running any business. Choosing the right consultant is of course crucial, but it is only half the skill of maximising the return on your investment. This article covers how to manage a consultant effectively in order to get the best possible results. What should my objectives be when bringing in a consultant? Clarity is the key word here. If you are not entirely clear about what you want to achieve, it will be difficult to use a consultant effectively. There are many ways you can narrow down your objectives but first start by working out the end goal. Thinking in broad terms, what is it you want? Are you expecting a concrete, tangible output such as an increase in sales, or more ephemeral obj... »

A Small Business Guide to Employment Contracts

A Small Business Guide to Employment Contracts

Employment contracts are a necessary part of employment for all businesses in the UK, setting out the terms under which you and your employee will be working. So many employers find themselves cobbling together terms from emails and other correspondence, without having any formal written arrangement. Not only is this a real hassle that wastes lots of time, it’s breaking the law. It’s a legal requirement that you provide the written terms of employment to your employee within eight weeks of their start date, giving you a bit of time to ensure everything is correct but also ensuring that everyone is on the same page. So, if you’ve taken on a new employee, what should you do if this is the first you’ve heard about this? First of all, don’t panic. Second, have a read of our guide to make sure ... »