General News

Invoice Finance versus a Bank Overdraft

In a highly mobile, shrinking world, transport and logistics will only prove to become more important in helping UK businesses run efficiently and profitably over the next few years. The UK logistics industry is worth £75 billion to the UK economy, employs over 2 million people and is actually a growing sector that will see a greater demand for effective and integrated freight solutions throughout 2012 and beyond.

How to cut your haulage fuel costs

One thing’s for sure, every haulier needs to find ways to economise on fuel in order to keep their vehicles on the road and help their company remain competitive.

Fuel accounts for around 25% of a vehicle’s running costs and with UK pump prices at or near to record levels, developing an effective business fuel strategy is an imperative.

The following tips, supplied by AllStar, a UK leading fuel card provider, can help you to reduce your fuel costs effectively:

UK service sector continues to "expand strongly"

A Markit survey has indicated that the UK service sector continued to "expand strongly" in February 2014, with job creation at its fastest pace for four months.

The expansion is also supported by another marked increase in new business.

The Markit/CIPS Purchasing Managers Index (PMI) for the sector was 58.2 last month and, although this is below January's reading of 58.3, it is well above the 50 level that indicates expansion.

Business costs major concerns for SMEs

Small-to-medium-sized enterprises (SMEs) are concerned about business costs in 2014, a study by the Forum of Private Business (FPB) has found.

More than half of the business owners surveyed by the business body say that increasing business rates, including utilities and fuel costs, are contributing majorly to cashflow issues.

Many are struggling to find the time to manage cashflow issues, with a lack of expertise and money meaning some have been left with no alternative but to downsize.

New prompt payment culture urged

A universal culture of prompt payments need to be adopted across the UK to help businesses help themselves, according to business body the Confederation of British Industry (CBI).

Currently more than £30billion is owed to UK enterprise, with each business owed on average £31,000. But despite this being down on the £36billion reportedly owed in January last year, further steps could be taken to reduce the impact of the issue on the private sector.


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