Monthly bills are the biggest financial concern for Brits on any salary: a worry that is set to worsen as broadband and mobile bills increase by 15% this Spring. As part of their cost-of-living statistics report, the finance experts at money.co.uk sought to investigate the current biggest financial concerns across different wage brackets, as a result of the cost-of-living crisis. To do this, they looked into factors including people’s main financial struggles, the average price increases in grocery shops and bills, and how people are adapting to cope with surging prices. Britain’s biggest financial concerns £15,000 or less £15,001 – £25,000 £25,001 – £35,000 £35,001 – £45,000 £45,001 -…
Author: sme-admin
Sustainability and environmental concerns are increasingly at the forefront of decision-making for businesses of all sizes. The drive to net zero and the current energy prices have sharpened thinking with companies about being more responsible for their emissions and for ensuring the sustainability of their supply. This is true of any company which relies heavily on documentation. A company that wishes to store documents has three choices: paper, local servers or cloud storage. Berkshire-based document management specialist company Filestream has been championing electronic document storage since 2003 and has seen millions of documents moved from paper to the Cloud. Moving…
The last few years have presented numerous challenges for SMEs. Just when there seemed to be light at the end of the Covid tunnel, there has been rapid inflation and recession is now looming (predicted by the Bank of England to be the longest since records began). As we move into 2023, Jenifer Martindale, Partner in the Commercial Litigation team at Wilsons Solicitors LLP, looks at what risks and issues the UK SMEs are likely to face as 2023 progresses? Repaying Coronavirus loans The Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS) were a business saver…
Author: Mandy Rico, Director of Advisory and Inclusion at diversity and inclusion consultancy, INvolve With all of the changes we have seen over the last few years, it’s important that we reflect on the impact they have had on the way we navigate the world. With developments such as the rise of hybrid working shifting attitudes and providing opportunity for progress in diversity, equity, and inclusion (DEI) across the board, the momentum must be maintained as we make headway into 2023. 2022 saw many small businesses recognise the need for change to create more diverse, equitable and inclusive workplaces. However,…
American Express recently commissioned Opinium Research to survey 500 senior decision makers in SMEs that operate internationally on their views about trading internationally and dealing with foreign exchange volatility. Why SMEs should take a proactive approach to FX volatility: 85% of SMEs surveyed said the recent fluctuation in the value of Sterling has caused some disruption to their business Over half (57%) of internationally trading SMEs say that taking a more proactive approach to managing foreign exchange volatility earlier would have benefitted their business Three quarters (77%) of SMEs agreed that the cost of doing business internationally has risen over…
New research from FreeAgent, the cloud accounting software company, reveals that just 9% of UK entrepreneurs plan to set up a business this year – despite the government’s ambitious growth projections for 2023 and beyond. The survey of working Brits reveals that confidence among would-be business owners is far lower than it has been in recent years, suggesting a pressing need for the government to provide robust support and put in place a plan that includes extending the energy cap, introducing new support loans specifically for energy bills and to implement a windfall tax on energy and fuel companies. However,…
Struggling businesses hoping for a reprieve from challenging conditions in 2023 face disappointment, warns Institute for Turnaround Inflationary pressures, rising energy prices and labour shortages mean demand for turnaround expertise among distressed businesses will continue to grow in 2023, according to the Institute for Turnaround (IFT). Last year IFT members, who help underperforming businesses avoid unnecessary insolvency, saved in excess of 80,000 jobs as initiatives to fix finances and revamp growth strategies bore fruit. Members also helped UK companies deliver more than £3.6bn of shareholder value. But in its latest Societal Impact Report, the IFT predicts increased demand for its services…
Loud quitting is the newest workplace trend and is a form of employee disengagement where employees try and play risky mind games to squeeze more money out of employers. This might involve mentioning they aren’t happy in the office and that they are applying for other jobs in the hope for a pay rise. This trend is troubling as it signals employees are not happy as well as a disconnect between the employer and employee regarding expectations when it comes to promotions and pay. It is in a manager’s best interest to recognise and prevent loud quitting and correct it…
A new report which collates data from over 50,000 workers worldwide reveals that people of colour are three times more likely to post a question on their change activation platform than their white colleagues. Although people of colour post more questions on the platform, they’re much more likely to receive responses from colleagues if they post anonymously on the platform rather than posting with their name and full profile (46% more likely to get a response when posting anonymously). In contrast, white men on the platform were found to get 8% more responses when they share their name or photo alongside their posts. The report, collated…
Technology startups with innovative digital solutions to transform and automate the public sector are being given the chance to partner with the UK’s largest business services company to turbocharge their growth. The TechMarketView Innovation Partner Programme (TIPP) has once again teamed up with Capita Scaling Partner, the corporate venture unit of Capita plc, to find startup and scaleup companies delivering game-changing solutions. Applications are now open for eligible firms ahead of a pitch event in March. The successful company will join the Capita Scaling Partner (CSP) portfolio in a unique equity-for services model, ensuring mutual success and business growth. Since…