SME

FSB calls on Osborne to focus on enterprise

The Federation of Small Business (FSB) is calling on the Chancellor to focus on enterprise and maintain small business growth in anticipation of this year’s Budget.

Urging for the creation of a ‘right environment’ for small business growth through market reforms such as energy and financial services, the FSB says that the Government need to support small businesses through better focused schemes.

Happy British businesses positive for the future

Business businesses are as optimistic as they have been for more than 22 years, according to a new survey by BDO.

One sector which is feeling particularly optimistic is manufacturing, with many such firms expecting to see growth over the next two quarters. The BDO index for manufacturing hit 103.8 in January, the highest seen since 1992.

Service sector firms are also expecting good things over the next six months, with expectations for growth and hiring intentions both jumping.

’Subdued’ lending market a concern for SMEs

Recently released Funding for Lending (FLS) figures have indicated that the credit market for small-to-medium-sized enterprises (SMEs) remains “subdued”.

Approximately half of all SMEs that have applied for loans over the last two years have either had their application denied or they are still waiting for feedback.

Despite the improving economic picture, many UK SMEs are still having cashflow crises, according to another survey.

SME resources stretched by tax admin

Small business owners across the UK are losing approximately 12 days a year due to lengthy tax administration processes, according to research from the Federation of Small Businesses (FSB).

More than half of respondents to the survey commissioned by the business lobbying group spend between two and eight hours every month filling in tax forms. 11% spend even longer than this, allocating between two and six days purely on completing tax forms.

Heatwave to boost small businesses

Small businesses are set to profit from the current UK heatwave, which is predicted to last into the weekend and beyond, following an unseasonably cool spring and turbulent winter.

Small-to-medium-sized enterprises (SMEs) have had to contend with the continuing turbulent economic period which, coupled with extreme weather seen earlier in the year, has seen many struggle to keep cashflow healthy.