A recent report showed that multinational corporations in the U.S. and Europe reported a loss of $9.5bn in Q1 2021 due to currency volatility. And these were just the published figures. If even the largest corporates with hedging experts are losing money, how are SMEs expected to fare, with fewer staff and smaller budgets? While volatility may be considered “low” for those seeking alpha, many corporate treasurers do not share that view. EUR/USD went from 1.17 to 1.22 over the last 12 months and that in itself is enough to be of great concern to most companies. There are also…
Author: sme-admin
After losing his mother to cancer in 2018 and his brother a year later to the same disease, in 2020 Shimron Equiano’s recruitment business was hampered by the pandemic. It was in these dark moments that he reflected on his life, purpose and legacy for the first time in 10 years, and the vision for BlocSquared was born. The brainchild of Shimron Equiano, BlocSquared is a new marketing and advertising platform offering ‘digital real estate’, giving side-hustlers a new place to call home and established businesses a valuable tool in their marketing armoury. BlocSquared aims to provide 1% of the UK’s…
According to data from What Customers Want, 91 per cent of consumers prefer to purchase from small to medium-sized businesses. Why? Unlike their corporate-scale rivals, small businesses offer a personal service, better relationships and typically, better communication. But, what about when communication isn’t up to scratch? Here, Kristian Torode, Director and Co-Founder of business comms provider Crystaline, presents some top considerations that SMEs should bear in mind when selecting their communications technology partner. Putting an effective communication setup into place is a challenge for SMEs. Data from the Enterprise Research Centre revealed that some of the key communications challenges that smaller businesses face include…
The electronics industry has been under increasing pressure, with the pandemic seeing a rising demand for electrical devices as many people stay at home longer – and at the same time need to work, stay connected with loved ones and be entertained. But while this may be good news for companies’ bottom-lines, it has placed an almost unprecedented strain on the industry’s manufacturing processes. Indeed, the electronics industry is currently experiencing a computer chip shortage – the chips, also known as semiconductors, are required for consumer devices to be able to work. A boom in demand as well as Covid-impacted supply chains are just…
The current financial year is in full swing (6th April 2021 – 5th April 2022) but as we pass the halfway point, there are some particularly pressing deadlines on the horizon. We’re here to make sure you’re well prepared for all the upcoming dates and deadlines, so you don’t run into any unnecessary penalties or trouble with HM Revenue & Customs (HMRC). In this article, we cover: Key tax year dates and deadlines for business owners What happens if you miss a tax deadline (and ‘reasonable excuses’ for filing late) Tips on how to make sure you never miss a…
According to The Open University’s annual business report published in partnership with the Institute of Directors, UK employers are facing a skills shortage when it comes to hiring specialist, entry level talent. The Open University’s annual Business Barometer 2021 report reveals 63% of organisation leaders are struggling with recruitment as candidates lack specialist skills and relevant experience. In fact, almost a quarter (24 per cent) believe that finding staff with the right skillset remains the single biggest challenge facing organisations in the next five years. The report reveals almost half (45 per cent) of employers struggle when recruiting for non-senior roles. Despite the challenges associated with hiring entry level talent, more than half (56 per cent) of businesses believe that apprenticeships…
September 2021. A month that is almost certainly guaranteed to go down in history as a whirlwind of gut-wrenching announcements and low blows to small and micro business owners. Guest editorial by Richard Osborne, founder UKBF (UK Business Forums) Resilience levels in anyone who has been involved in small businesses over the past eighteen months will already be pretty steely. Navigating a business through a pandemic is definitely not for the faint-hearted and so, after closures and re-openings, furloughs and pivots, no one could blame founders for wishfully thinking the worst was over and they can look ahead with a…
Leeds, Edinburgh and Birmingham have been named the best UK cities outside London to start a new business, according to a new study based on government and business data. The research, compiled by personal finance experts at independent price comparison site NerdWallet, follows a record growth in start ups. There were more new businesses created between April and June than in any other second quarter on record¹. It comes as workers increasingly leave London for other UK cities thanks to the rise in remote working². Major employers, such as the BBC, Channel 4 and the UK Civil Service, have also recently committed to…
Allica Bank, the relationship-driven SME lender, has launched new specialist commercial mortgages for care homes run by independent or small group operators. The bank says that the SME care home market is drastically underserved, with smaller firms often struggling to get finance compared to larger operators with multiple locations. Allica Bank will focus specifically on those operators, such as those looking to acquire their first care home, single home operators looking to expand into second or third homes, or those acquiring other operators to grow their portfolio. To spearhead this expansion, Allica Bank has hired two healthcare lending specialists, Anthony…
Dame Irene Hays and her late husband John, who founded Hays Travel, were among the business leaders honoured at this year’s North East Entrepreneurial Awards. They were acknowledged for their longstanding contribution to the region, particularly within Sunderland where the Hays Travel headquarters is based, and for saving thousands of jobs when they purchased the Thomas Cook retail operation. The company, launched in 1980 by John, is now the largest independently owned travel agent in the UK, with sales of over £1 billion per annum, 7,500 employees and 450 retail branches. An avid supporter of entrepreneurship in the North East,…