small and medium-sized firms

Fraud is Costing Small Businesses Nearly £8bn

13% of small and medium-sized firms are affected by company fraud, with 1% losing over £10,000 Company fraud affected 13% of the UK’s small and medium enterprises, costing 286,000 businesses a total of almost £8bn, according to information group Experian’s small and mid-sized business reputation index. While the average amount of money lost per business was £2,627; company fraud cost 3% of businesses up to £5,000, £1% between £5,000 and £10,000, and an additional 1% over £10,000. The findings made direct connections between employee numbers and fraud, with medium-sized firms (over nine staff members) experiencing higher fraud levels than micro-businesses (less than nine employees) – 27% compared to small firms’ 11%. Global information group Experian examined over 500 UK small business owne... »

Six out of Ten Small Businesses Plan to be Exporting by 2016

Small and mid-sized firms forecast 20% growth in international reach and 28% increase in overseas revenues A report by Citrix and YouGov revealed that over the next two years, there will be a 20% increase in the number of UK small and mid-sized businesses that are exporting (currently 42%), with 28% of companies’ revenue from international sales to increase by 2016. Furthermore, of the businesses that are currently exporting, 72% emphasised the importance that overseas markets will play in their business’ growth, with 42% stating it was ‘very important’ to their company. The report, which featured over 2,000 small and medium-sized firms throughout the UK, highlighted the significance technology and global logistics networks played in reducing the barriers to trade. Of the respondents curre... »