Business Owners Unaware of Business Partner Debts

The results of a survey published by online directory 192.com suggest that one in three business owners were unaware of their business partner’s debt, while roughly the same number admitted they had been lied to about the state of a business partner’s debt. More than 20% of respondents said they had found themselves caught up in “financially unsound business relationships” after failing to study company credit reports. More than three-quarters (77%) neglected to research a business partner’s financial history by obtaining a business credit report. Such reports detail a businesses’ financial health and history by outlining county court judgments, which stay on the register for six years. Dominic Blackburn of 192.com said: "We advise businesses to use a com... »

Owners Get  More Time to Grow Business

Owners Get More Time to Grow Business

Small business owners are spending less time on administration and more on growing their businesses, research by Vodafone has found. The change in emphasis ― revealed by a survey of 1,000 business owners ― has been put down to the effects of the recession. The Institute of Leadership and Management’s senior policy manager, David Pardey, said: “Small firms that weren’t particularly customer focused or aggressive in terms of growth really suffered during the downturn ― those that survived have had to up their game.” “One of the advantages for small firms is that they can quickly adapt to tougher market conditions ― unlike bigger organisations ― and many owners realised it was a question of getting out there and chasing business.&rdq... »