uk smes

Late Payments Impact on UK SMEs

New research from Bacs has revealed that over half of the UK’s small businesses do not expect any assistance from the Government when it comes to dealing with late payments. Bacs, the organisation behind the Bacs Direct Credit payment system, said that the 56% of SMEs are not expecting any help whilst the number of small businesses feeling the impact of late payments (in June 2010) has fallen by as much as 20% in 6 months. Believing that the change in fortunes is down to individual companies’ efforts to "tighten belts", Mike Hutchinson, head of marketing at Bacs says: “It’s extremely heartening to see that there are now many companies making great strides to help themselves beat the late payments cycle, by sharpening up their billing and credit control procedure... »

Are UK SMEs Gearing Up for Growth?

A new report released today by business Internet service provider, Easynet Connect, outlines the strategies of UK SMEs for a return to sustained growth. With only marginal growth expected in the Q1 2010 GDP figures due out on Friday, today’s report, Are UK SMEs gearing up for growth?, reveals that although 84% of businesses believe the economy will return to growth, 58% of them think it will take 12 months to 2 years to arrive. The research highlights how the focus for SMEs over the next 12 months is to consolidate their positions internally, ready to take advantage of the market improvements expected in 2011. Over a third (38%) are investing in their IT infrastructure, 30% are looking at increasing staff training, and around 15% are looking at recruiting more people and improving st... »