Local authorities have been urged to prioritise working with small firms, following the publication of figures that show just a handful of the biggest companies earn almost as much from local government contracts as all small firms put together.
Over 10,000 medium-sized businesses in the UK will become ‘small’ in the coming few years, as the EU Accounting Directive comes into force.
It is surprising how many landlords give up chasing their tenant when they have left the property. Landlords are often so relived that they have possession of their property back, that they write off many bad debts, and in doing so incur a huge loss.
A surge in activity in the auto-enrolment pensions market means the clock is well and truly ticking for the 1.6 million SMEs required to enrol into a scheme over the coming four years.
Setting up a business can be an exciting time; you have an idea, perhaps even a physical product or invention, and you’re almost certain it’s going to make you rich.
The government’s eye-watering outstanding debts have been making headlines since the publication of a National Audit Office report on the issue in February; however, over that same period, the Debt Market Integrator has gone largely under the radar.
Despite high levels of business confidence, many firms remain concerned about red tape and cash flow as their two biggest barriers to growth.
Despite the government’s pledge to pay its suppliers faster, local councils are failing to meet their targets, according to a report from the Asset Based Finance Association.
Despite legislation being in place to enforce fair payment practices, more needs to be done in order to ensure big companies treat their smaller suppliers fairly, according to the Federation of Small Businesses.
Overcoming the problem of late payments to SMEs by their larger customers could not only help out small suppliers; it could also have widespread implications for the economy as a whole.