Small Businesses Optimistic about Domestic and Overseas Growth

British Standards Institution survey shows that over half of small and mid-sized businesses expect their turnover to increase in 2014, with 20% planning to expand abroad A report conducted by the British Standards Institution (BSI) has found that 56% of small and mid-sized businesses are optimistic about growth in domestic turnover, with only 13% expecting their annual turnover to decrease. Furthermore 20% are looking to begin exporting overseas while 18% plan to develop their current overseas market. Although the BSI findings were positive overall, they also highlighted key barriers small and mid-sized businesses worry will obstruct their progression both at home and abroad. The survey revealed that main concerns were the sustainability of the economy’s growth (34%), as well as lack of su... »

A Third of SMEs Waste Money on Business Trips

A third of small firms are wasting money on staff business trips by failing to shop around for the best deals on travel and accommodation, event management firm BSI has warned. The research from BSI revealed that 33 per cent of small firms do not negotiate the best rates they can on staff business trips, and 48 per cent do not set employees a budget for accommodation. “Our research shows that, due to limited understanding, apathy or misconceptions, a large number of SMEs are not following best practice procurement when buying and booking overnight accommodation, meetings and events, a fact that is likely to be causing them to waste significant time and money,” said BSI managing director Trevor Elswood. “With margins tightening, SMEs are facing even greater budgetary and r... »