35% of Businesses Owners Spend Most Of Their Day Doing Admin – Though Just 4% Believe It’s a Priority

35% of Businesses Owners Spend Most Of Their Day Doing Admin – Though Just 4% Believe It’s a Priority

35% of UK business owners spend the majority of their day doing admin – though just 4% believe this is a priority task, according to a report by Immervox. Their Management Pressures and Productivity report, which surveyed 144 businesses, has revealed that UK firms are struggling to achieve increased profit because they have to concentrate their efforts on more menial tasks – such as filling in spreadsheets. While small firm owners believe that innovating, planning, and customer service are the three most crucial areas of their business – few can devote any time to them Other barriers to growth include disorganisation (25%), followed poor internal communication (15%), slow internet (12.99%) and more ad hoc tasks (12.99%). For larger enterprises, antiquated IT systems was signalled by over h... »

Business Costs Enter Deflation Period for First Time in Six Years

The business outlook for 2015 remains positive as output, optimism and hiring rates continue to rise and reduced overheads allow firms to focus on growth UK enterprises are experiencing an overall cost deflation period for the first time since 2009, according to the latest business trends report by accountancy firm BDO LLP. The BDO’s inflation index fell below 95 (the line which denotes deflation) to 94.7 in February, meaning companies can capitalise on low input costs and focus on investing in growth and business infrastructure. Other positive findings include an increase in business output, up from 102.9 to 103.1 this month – indicating continued growth for firms in 2015. Hiring rates also appear to be on the rise with the BDO’s employment index up to 113.1 from 111.6 and business optimi... »

Small Business Optimism Continues to Rise

Over half (52%) of small firms plan to invest in their company as trading conditions improve Small and mid-sized business optimism continues to build as 52% of company owners declare plans to invest in their firms thanks to improved trading conditions. In addition, 34% believe that their companies will grow in 2015, according to the most recent Close Brothers Business Barometer (CBBB). The report revealed that alongside investment and growth predictions, companies plan to seek growth funding and increase headcount with four out of 10 enterprises planning to seek funding to facilitate expansion and 47% hoping to recruit additional staff. The CBBB, which is a quarterly survey conducted by financial group Close Brothers Asset Finance, (CBAF) demonstrates the opinions of small business owners ... »

A Third of Small Tech Businesses are Seeking Finance to Accelerate Growth

Traditional funding remains the main source of finance for small and mid-sized technology firms Small and mid-sized tech businesses displayed optimism in a recent survey of 500 business owners, with 32% admitting they plan to seek finance in order to meet growth plans. Traditional funding is still the preferred route, with 42% accessing capital through a finance institution last year and 41% doing so via the bank. Other finance solutions named in the survey, which was conducted by accounting group Crunch, included private investors (26%); crowdfunding (16%); family and friends (13%), and government grants and support schemes (9%). However, while firms are keen to borrow, institutions are still reluctant to lend. 42% of the firms who applied for capital through financial institutions were d... »

One-in-Five London-Based Businesses Pessimistic about Growth

Companies based in the capital are significantly less optimistic than the rest of the UK, despite economic growth predictions of 15% in the next five years One-in-five London-based firms are pessimistic about their business’ future, a considerable difference compared to those based in the North regions – where over 90% say they feel optimistic about growth potential, according to a recent report by B2B International. Overall business confidence levels throughout the UK are higher than those in London, despite the widening financial gap as the city is predicted to have the fastest rising economy with 15% growth over the next five years. In fact, the research found that firms who experienced revenue declines of 5% or more in the last two years were more likely to be positive about their busi... »

Three Quarters of Small Business Owners Will Work through Christmas

One in five small and mid-sized business entrepreneurs will have no break during the holidays Research has revealed the majority (76%) of small business owners resolve to work throughout the holidays with 17% planning to take no time off at all. The findings, which come from a survey of 500 small and mid-sized firms, found that over half of the respondents plan to work at least three hours a day with 15% stating they will work more than half a day. Younger business owners seem better at balancing work and home life, with just 17% feeling they need to improve it compared to 42% of business owners aged 55 and over. The disparity between older and younger generation business owners appears to be primarily due to a focus on bottom lines, as 71% of older business owners believe it will directly... »

Small Businesses Forecasting Productivity Gains

Improvements in the market, technology, management and skill levels cited as main reasons for small and mid-sized business optimism New research has revealed the majority of small firms (63%) predict productivity gains in the next 12 to 24 months. Businesses predicted an average increased productivity of 9%, with market conditions cited as the main reason (42%), followed by improved technology (13%), management (13%) and skills (11%). The report, by venture capitalinvestor Albion Ventures, also revealed what industries and regions are most confident in their ability to increase productivity over the next year or two. Manufacturing firms are most assured (74%), whereas firms in the hospitality industry are the least confident at 41%. In regard to regions, businesses in the North West are th... »

Small Business Survival Rates Reach 10 Year Low

Majority of small businesses fail to survive over five years with 55% stating it has never been more difficult to grow in the UK New research has declared 55% of small and mid-sized businesses are failing to reach the five year mark; with 68% finding it difficult to grow their business due to bank lending, tax breaks and business rates barriers. The research, released by insurance broker RSA, revealed that despite an overall improvement in the economy, business survival rates have decreased since 2004 with the construction industry performing the worst (survival rate of 44%) followed by the health sector (56%). The report, titled Growing Pains, also looked at business growth potential and identified the leading barriers to it. 61% of small and medium-sized firms lack confidence in their bu... »

Business Funding in ‘Traditional’ Companies Reaches “Record High”

Investment in non-tech businesses grows from 24% in 2011 to 45% in first half of 2014 The rate of business investment has increased dramatically in the first half of 2014 according to new research, with ‘traditional’ industries outside of the technology sector reaching “record” levels. The report, by data firm Beauhurst, suggests investors are taking a “more balanced approach”, with the rate of investment taken up by non-tech companies increasing from 24% in 2011 to 45% so far in 2014. Traditional businesses such as professional services, industrial industries retail and leisure all witnessed considerable growth. The business and professional services sectors gained £338m in investment in the first half of 2014, compared to £279m for the whole of 2013. Additionally investments in industria... »

Total UK Exports rise 2.3%

Clothing revealed as fastest growing UK export industry followed by cars and cleaning products A new report conducted by Santander revealed the total UK goods exported rose 2.3% in the last year, with the export of all manufactured products witnessing 5.4% growth. The findings, based on the latest official ONS data, revealed that off all the industries, clothing, cleaning materials and cars witnessed the fastest growth. Clothing increased by 16% in 2013, car exports rose by 14% and cleaning materials by 10%. Machinery, cars and pharmaceuticals were the most significant manufacturing industries; accounting for over a third (37%) of all UK exports and with a total value of £113bn, followed by refined and crude oil which contribute £39bn in value. Other manufacturing sectors that experienced ... »

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