Poor planning could be costing British Businesses £25 billion
More than a quarter (26%) of UK SMEs surveyed say they do not have a business plan in place and are therefore likely to be operating without basic objectives, revenue targets or a plan to manage cash flow. However, research by the Centre for Economics and Business Research (Cebr), commissioned by npower Business, reveals that over half (51%) of the UK's best performing SMEs are working to a detailed business plan. Among all SMEs with a detailed plan, 70% anticipate an increase in their...
Individual Insolvencies by Region
This statistical release provides breakdowns of individual insolvencies in England and Wales, at parliamentary constituency Level for 2000 to 2014. Main messages Total insolvency rates were highest in parliamentary constituencies by the coast, and in the South West, North East, Merseyside and parts of Yorkshire and East Midlands. Total insolvency rates were lowest in parliamentary constituencies in London, the South East and parts of the North West. Comparisons of rates between years...
Noddle, the free-for-life credit reporting and scoring service from Callcredit Information Group reaches two million customers
Noddle the free-for-life credit reporting and scoring service with no hidden fees or 30-day trial periods, has reached two million customers. Noddle is part of Callcredit Information Group, which is owned by private equity business, GTCR, who purchased the company in 2014. Launched in 2012, Noddle has seen phenomenal growth in 2015 with the number of customers doubling since January alone. This growth is due to growing awareness among consumers of the importance of knowing their credit score...
Google Ventures: Web giant scraps European start-up investment fund after only eighteen months
Decision comes amid concerns that another tech bubble is forming. American web giant Google is scrapping its European investment fund after just 18 months amid increasing scepticism about soaring tech start-up valuations. Google Ventures, the investment arm of Alphabet, Google’s newly formed parent company, confirmed it would operate as a global fund from January, rather than as two separate US and European pots. The firm, which is rebranding as GV, said it would be “business as...
Collapse in numbers of UK ‘high risk companies’
The number of ‘high risk companies’ in the UK has shrunk massively. The new Graydon Risk Barometer shows that in 2007, just before the financial crisis, 16.23 percent of the 1.7 million active UK companies were so unhealthy financially that they caused a serious business risk. Now, in 2015, this number has decreased to 9.59 percent. The reason for this spectacular decrease is that the economic crisis filtered out a lot of the unhealthy companies. Some remain though, hidden by low...
Accountants warn new red tape cuts bring risk of fraud
Accountancy body ICAEW says raising 11,000 smaller firms out of audit rules could mean crimes going undetected. The UK’s accountant-in-chief has issued a stark warning that new rules designed to cut red tape for small businesses could increase the risk of crimes going undetected and reduce public trust in British business. From next year, businesses that turn over less than £10.2m a year will no longer have to get their accounts independently signed off by an auditor, raising...
Weak growth in UK manufacturing poses Bank of England dilemma
Survey finds manufacturers expect 2015 will be worst year for growth since 2009, with interest rate rise likely to hit exports. Britain’s manufacturers expect 2015 to be their worst year for growth since 2009 and next year will be little better, according to a survey which highlights the dilemma that the Bank of England faces as it considers whether to raise interest rates. A survey by the EEF, the manufacturers’ association, found that only car companies and chemicals firms...
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