Small and medium enterprises

Almost Half of all Small Businesses Would Close if the Founder Left

Almost Half of all Small Businesses Would Close if the Founder Left

Nearly half of the UK’s small businesses would close within a year if the founder suddenly left, with a third set to only survive a month after the founder exited; new research from Network ROI has found. The survey, which featured business owners and managers, revealed that businesses based in the North West and Scotland were the least confident of their chances of survival, with over 50% of companies from both regions saying they wouldn’t last a year without their founder. Overall the survey indicated a widespread lack of continuity planning among small and medium enterprises as firms based in the rest of England demonstrated a lack of confidence; a third of business managers said their company they wouldn’t last a month if the founder left. Businesses in Northern Ireland were the most c... »

UK Small Businesses Lead the Way in Tech Adoption

UK Small Businesses Lead the Way in Tech Adoption

Britain’s small and medium businesses are the second biggest tech adopters, beating Germany, France, the Netherlands and Belgium, a global barometer of over 3,000 entrepreneurs has found. The UK came out as the top tech adopter in Europe with 27% of small and medium firms recognised as ‘heavy’ cloud users – second only to the US at 29%. 47% of UK firms use at least one cloud business software tool. The Netherlands came next on the list at 25%, followed by Belgium and France at 24%, and Germany at 10%. The report, entitled Exact 2015 SME Cloud Barometer, reported that businesses using three or more different cloud products software (‘heavy cloud adopters’) also outperformed counterparts. On average, heavy tech adopters have achieved 25% revenue growth this year compared to 14% revenue growt... »

A Guide to Managing Change in Your Business

A Guide to Managing Change in Your Business

Change is inevitable in business. Even if you are staunchly resistant to it your environment will change around you and you will be left behind. Driving and monitoring change in your business constantly is, therefore, essential. Making change before you are forced to can see you gain an advantage over your competitors, and bringing about a culture of constant innovation can take your business to an entirely new level. This article will give you a rundown of how to manage change in your business, including how to identify where change is needed, preparing for and implementing change, and creating a long-term culture of change in your business. How do I know what to change in my business? Rarely is change not needed in business, but it can be difficult to identify what needs changing and wha... »

A Third of Small Firms are Worried that an EU referendum will Impact Business Recovery

Small and medium enterprises are anxious that an EU referendum will damage relationships with overseas customers and investors The latest Close Brother Business Barometer (CBBB) revealed disparity among small and mid-sized firms’ attitudes towards a potential European Union (EU) referendum; with 42% believing it won’t have any effect whilst 33% are anxious that it will and 24% remain undecided. Of the businesses that are concerned, 46% are worried that it will cause delays among inward investment and an additional 23% are anxious that it will negatively impact their European market connections. The CBBB is conducted by finance company Close Brothers Invoice Finance (CBIF) and is a quarterly survey of over 700 business owners to demonstrate small and medium enterprises’ attitudes and issues... »