Business News Articles

Single client reliance putting small firms at 'serious risk of failure'
Over 350,000 small firms rely on a single client for more than 75% of their turnover, according to research by Close Invoice Finance. Small companies are being advised to protect themselves by diversifying their client base. The research also found that a third of small businesses do not have insurance against customers defaulting on payment. "By relying heavily on one single customer, compa... more

Access to credit rises for third quarter in succession
The rate of deterioration in credit conditions slowed further over the past three months and conditions are expected to stabilise in the months ahead, according to a survey by the Confederation of British Industry (CBI). A net total of 20% of companies reported a fall in the availability of new credit in the three months to May, compared with 36% in the previous quarter and 62% who saw this in ... more

Manufacturing decline hits lowest level in a year
The UK manufacturing industry declined at its lowest rate for over a year in May, according to data released by The Purchasing Managers' Index (PMI). The PMI rose to 45.4 in May, up from 43.1 in April - the highest figure since May last year and the third consecutive month of improvement in the PMI index. Although any figure on the index below 50 represents contraction in the industry, there ar... more

75% of entrepreneurs call for reduction in NI contributions
75% of entrepreneurs believe that the government should reduce businesses' National Insurance Contributions (NIC) or offer an NIC 'holiday', according to a survey by recovery specialist Tenon. Half of those surveyed responded that a cut in the NIC rate would assist them in recruiting staff over the next quarter, while 20% stated that an NIC holiday would be most beneficial policy that the gover... more

Government training schemes ‘failing micro-businesses’
The UK's smallest firms need government training schemes to be more flexible and focused on their needs, according to a poll by the Federation of Small Businesses (FSB). The survey revealed that 88% of micro-firms (those with fewer than five employees) have not taken up the offer of training through the government's Train to Gain scheme. 78% of respondents stated that the scheme needed to be... more

50% of workers see pay, hours or benefits reduced
More than half of UK workers have experienced a cut in pay, hours or a loss of employment benefits since the recession began, according to a survey of over 1,500 workers by the Keep Britain Working Campaign. The survey found that 28% of workers have seen their pay decrease, 25% have experienced a reduction in hours and 23% have lost some employee benefits. 37% of UK workers have been through on... more

New ‘fit note’ designed to end sick-note culture
A new ‘fit note' designed to help keep employees in work rather than go on long-term sick leave has been unveiled by the government. The ‘fit note' will see doctors advise patients on how they can stay in work longer and provide employers with advice and information on how to support those returning to work. The note will be subject to a 12-week consultation process before it is introduced.... more

Package to help small firms fight credit card fraud
Small companies that handle customer card data can receive a new package that helps protect them against credit card fraud. Payment fraud is an increasing problem for small businesses, with card fraud losses totaling over £600m in the UK last year - up 14% from the pervious year's figures. The package, from insurance group RSA, provides companies with the tools to reduce the risk of credit ... more

Half of firms won’t hire graduates
Almost 50% of employers will not be hiring graduates or school leavers in the coming months ahead, according to a survey of 500 firms by The Chartered Institute of Personnel and Development (CIPD. Around a third of businesses revealed that they had cut their graduate employees this year as they look to reduce expenditure due to the economic downturn. "The harsh reality is that it is no longe... more

Third of companies expect turnover to increase next quarter
Almost a third of UK companies expect turnover to increase in the coming months, according to the British Chamber of Commerce's Monthly Business Survey. The BCC's survey revealed that 30% of companies expect their turnover to improve by up to a quarter in the coming months - up from the 22% who predicted this rise in January's survey. The research also shows that around half of businesses ar... more