small and mid-sized businesses

Late Payment Remains “Headache” for a Third of Small Firms

Late Payment Remains “Headache” for a Third of Small Firms

A third of small businesses say late payment issues continue to be a barrier to success, with a fifth stating that the problems are getting worse, according to the latest Close Brothers Business Barometer (CBBB). The report, which is a quarterly survey by finance group Close Brothers Invoice Finance (CBIF), revealed that for companies who find late payment issues a major “headache”, 65% believe it results in cashflow problems and an additional 15% feel that it threatens their firm’s chances of survival. More than half of the companies struggling with late payment problems also stated that it has resulted in their business having to reduce their average annual turnover by up to 10%, with nearly a quarter confirming that they had to write off between 10% and 25% of their turnover in the last... »

Almost Half of Small Businesses Set to Grow in 2015

68% of small and mid-sized businesses are confident in their ability to raise finance but majority are unaware of full range of funding routes Research from the government’s British Business Bank has revealed 46% of small firms are predicting growth in 2015. The report, which is the first in a series of annual reports, titled the Small Business Finance Markets, surveyed a 1,000 small firms. However, despite positive expansion plans, the majority of businesses were unaware of the finance options available to help them manage this growth. 68% were confident in their ability to get funding; yet only 65% have heard of alternative finance options such as crowdfunding and peer-to-peer lending and an additional 33% were unaware of government and local authority grants. The most recognised forms o... »