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.

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Labour Plans to Get Small Businesses on Side

As the Labour party battles to try and win over voters in the next general election in 2014, Labour leader Ed Miliband seems determined to try and get not only individuals onside but also small businesses across the UK.

In a bid to try and get small businesses onside, Labour intends to become the party that works hard for small businesses, albeit at the expense of large corporations.

The Labour party is promising that if it is voted into power next year, it will be slashing business rates for small businesses.

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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.

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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.

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