Most business would fold in less than three months without an overdraft despite the facility being reined in, ABN AMRO Commercial Finance says. Findings from its study reveal that 71 per cent of small and medium sized businesses SMEs have seen overdraft limits reduced by finance providers, while 86 per cent have seen overdraft fees rise. However, the statistics also show that 48 per cent rely heavily on the finance option to keep the business operating. Some 89 per cent of respondents admit that their business would only last
Read more →Small and medium sized business SMEs in the UK are increasingly turning to alternative forms of finance to fuel operations, with the use of credit cards growing. Personal savings and credit cards are becoming more common forms of SME capital, findings from Western Union show. The money transfer services International Trade Monitor reveals that access to credit continues to be a worry for SMEs, with 30 per cent saying that its is a top concern. The research also finds that 21 per cent are turning away from banks and actively
Read more →The time has come to think seriously about enterprise social networking and consider its role within wider enterprise collaboration strategy, according to global analyst firm, Ovum. In a new report* the global analyst firm says the enterprise social networking market is starting to mature and is moving from the introduction phase into the growth phase. Strategic acquisitions have already been made by start-ups and establish vendors alike. Richard Edwards, Ovum analyst and author of the report, comments: “Ovum’s current assessment of the enterprise social networking market indicates that Jive and
Read more →Cloud computing must remain at the centre of business strategies to combat the challenges associated with rising costs. SMEs often point to IT as a major capital expense in their businesses but it is possible to reduce the financial burden without cutting down on innovative technology. Investing in cloud computing technology – where software and hardware is pooled centrally and made available over the internet – will enable small and medium-sized businesses across the UK to reduce costs and enhance efficiencies. The Office for National Statistics released figures showing that
Read more →Findings from online lending platform Funding Circle show that seven in ten people in Britain would be prepared to invest in UK companies. The survey from Funding Circle, a business which was set-up in August 2010 and has allowed businesses to borrow £40 million, shows that £72 billion could be injected into the UK economy. Breaking the statistics down further reveals that the average saver is prepared to invest £2,080 into businesses looking for finance. The study, compiled by OnePoll on behalf of Funding Circle, reveals that almost two thirds
Read more →
