Tag Archives: small business finance

Pros and Cons of Starting a Small Business

writing a business plan

Small businesses play a vital role in developing the economy of the respective countries in which they operate in. These businesses do not only meet the needs of the local people but also serve the requirements of large businesses e.g. for printing, typing and catering services. As the job market is day by day being overwhelmed with a load of many graduates it is becoming difficult for it to absorb them hence people are encouraged to become self-employed so as to ease the burden of unemployment.

BBA Claims Banks Willing to Lend to Small Businesses

Over recent years, lending levels amongst banks to small businesses has waned resulting in businesses losing confidence when it comes to getting finance.

The issue has led the government to come up with schemes such as the Funding for Lending Scheme in a bid to get banks lending to small businesses again to help boost the economy.

Banks will need to share data on small business lending

Over recent years, the supply of funding from banks to small businesses has suffered as a result of the global financial crisis.

The government has taken various steps to try and improve this situation and while there have been some improvements of late thanks to schemes such as the Funding for Lending Scheme, lending levels to small businesses are still being described as subdued.

FSB Reports Increase in Confidence Amongst Smaller Businesses

Over recent years, confidence levels amongst both consumers and small businesses have taken a knock, driven largely by the difficult financial and economic climate.

However, according to a recent report from the Federation of Small Businesses, there has been a notable increase in optimism and confidence amongst small businesses across the nation.

Small Businesses in the UK Suffer Consequences of Late Payments

Over recent years, many people across the UK have decided to start their own businesses.

This has resulted in a new wave of small businesses that could potentially have a huge positive impact on the country’s economy.

However, for any small business that is still in the throes of growth cash flow can be a big problem and this is an issue that is being made worse by late payments.

Small Businesses Steer Clear of Bank Borrowing

In years gone by, one of the main forms of funding for small businesses was bank credit.

This was not only to help small businesses get off the ground as start ups but also to help them to grow and flourish through increased financial investment.

Small businesses losing billions on forgotten invoices

For any small business in the UK, finances can be a struggle, particularly in the current difficult financial climate.

Many smaller businesses have struggled to stay afloat over recent years, with lack of funding access from some major banks making the situation even more difficult.

However, despite this small businesses are collectively losing out on billions of pounds each year as a result of their own oversights.

Business Start Up Schemes: Lack of Awareness Stunts Business Growth

Over the past few years, the UK government has introduced a range of initiatives to aid the development of small businesses, which in turn could help to aid the growth of the economy.

With everything from free workshops and mentoring through to funding schemes for entrepreneurs, the government has found a wide range of business start up schemes which aim to support and back small businesses in the UK.

Small Business Owners Work Fewer Hours than European Counterparts

small business working hours

Britain is often slated by employees for the long and gruelling working hours that are in place compared to some other countries.

However, a recent report has shown that small business owners in the UK are actually enjoying workers fewer hours than many of their European counterparts.

The research was carried out by Hiscox, with 500 small businesses across six countries being polled as part of the process.