NEWS

The latest from Balance for Business

SMEs are a ‘legion of fundraisers’

Research by BusinessesForSale.com reveals that 72% of UK SMEs donate in some way to one or more “good causes”. Those surveyed raised an average of £3,436 each last year, with one small business raising £28,000 on its own. According to the survey, most SMEs supported multiple charities, mainly small independent ones, and fundraised through organising […]

MORE

Millions of small businesses still don’t accept cards

Around three million of Britain’s small businesses do not accept card payments, according to a study by the payment company Square. This is despite the fact that one in six British shoppers now uses cards only to pay, while a further 38% would typically try to pay with a card first before they have to […]

MORE

GDP growth weakest since 2013

The UK’s economy grew at its slowest annual pace since 2013 in the three months to June, according to revised official figures. GDP grew by 1.5% from a year earlier, the ONS said, down from an earlier estimate of 1.7%. However, the quarterly growth rate remained unchanged at 0.3%. Separate figures from the ONS indicated […]

MORE

Rules of doing business have changed for SME owners

A survey by Menzies has found 75% of SME owners believe the “rules of doing business” have changed significantly in the past year and Brexit and other uncertainties mean they are likely to keep changing. Amongst those who detected a change, 43% observed that competitor activity has become more intense and there is a constant […]

MORE

Business confidence rising

The latest Lloyds Bank business barometer shows business confidence is rising but remains at its second-lowest level this year. The reading rose by six points this month to 23%. Economic confidence among businesses surveyed rose by 7 points to 12%. Click here for full article Click here for more articles

MORE

IMF says wage growth may never recover

The IMF has said wage growth may never recover to its level before the financial crisis because the structure of the labour market has changed. The Fund said that higher levels of “involuntary part-time employment” were partly to blame. Click here for full article Click here for more articles 

MORE

SMEs still reliant on traditional bank products

Research by the British Business Bank has found that core debt products such as bank loans, overdrafts and credit cards remain the most frequently used method for SMEs looking to raise finance. But a clear trend has also emerged of fewer smaller businesses using core products since 2012. Applications for new debt facilities fell to […]

MORE

UK’s tax system too complex for simple assessment

HMRC is rolling out new forms which will be pre-filled using its own data in a move experts say will create chaos for millions of taxpayers. The so-called “simple assessment” system is designed to show taxpayers how much they owe, but experts say one in ten calculations will contain errors. Nimesh Shah at Blick Rothenberg said the […]

MORE

Poor time management hits growth

The biggest obstacle to the growth of Britain’s business enterprises is poor time management, research for online printing company instantprint suggests. Of 500 SME business owners polled, one in ten has less than an hour a week earmarked for business growth, while 8% struggle to find any time at all. A third are unable to find […]

MORE