small and medium firms

UK Business Confidence “at its Lowest”

UK Business Confidence “at its Lowest”

Small business confidence is at its lowest in over a year, according to the BDO’s latest Business Trends Report, as investment and output drops. Based on its ‘Optimism Index’ which predicts growth six months ahead, business confidence in the economy  is now only just above the average at 101.0 and, although higher at 103.3, sales orders for the next three months is also on a “downward trend” The rate of growth in employment is also dipping, Employment, coming in at 105.2 – the lowest level recorded by BDO since 2014. The report suggests that the drop in business confidence and investment will have a negative effect on the UK’s overall economic growth in 2016. Commenting on the findings, Peter Hemington, partner at BDO LLP, said: “Doubts about the world economy are making the UK’s business ... »

UK Businesses Remain Cautious Despite Growth

UK Businesses Remain Cautious Despite Growth

Over half (62%) of UK businesses admit to having money leftover this year and 69% believe they will hold on to profits again next year, according to research compiled by accountancy and finance group ICAEW. The research, which polled 500 businesses, revealed that nearly a quarter of companies had 20% or more of their annual turnover remaining but only 36% had started investing this surplus cash back into the business. Of those surveyed, technology came out top as an of area business owners were planning to re-invest in at 66%. This was followed closely by employee training and staff development (63%) and marketing at 54%. According to ICAEW, the majority of businesses are still cautious after the recession with business confidence and long-term faith in the UK’s economic future said to be ... »

Small Businesses Unprepared for Auto-Enrolment Pension Scheme

Half of small and medium firms anxious about set-up and long-term costs of pension scheme A new survey has revealed that although small businesses are concerned about the costs that the automatic-enrolment pension scheme will entail, 77% have not begun to prepare their company for it. The survey, conducted by HW Fisher & Company, demonstrated widespread confusion and concern among small and medium-sized businesses. 62% were worried about the long-term costs staff pensions will cause, with 30% of the correspondents apprehensive about initial set-up cost, and 47% concerned about extra administration needed to manage the scheme. Despite apprehension, many companies are failing to prepare for auto-enrolment with many of those surveyed unable to predict how the scheme would affect their bu... »