Here is this week’s news round-up for home business, micro business, sole-traders, freelancers, self-employed and any one who is interested in small business news from the United Kingdom and Ireland:
- Banks Unfit for Purpose, says Think Thank: Economic rescue efforts – including quantitative easing – will not work until the fundamental problem that Britain’s banks have become “unfit for purpose” is addressed, says nef (the new economics foundation).
- Start Twittering: Over 6,000 small businesses across the UK are turning to the free social networking site, Twitter, every day to cut marketing costs and keep in touch, according to a study conducted by O2.
- Late payments to SMEs rocket to £26 billion: British small and medium size enterprises (SMEs) are now owed a massive £25.9 billion after overdue payments leapt by almost 40 per cent over the last year, up sharply form £18.6 billion. That’s the latest finding into the problem conducted by Bacs Payments Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit.
- Firms told to act as suppliers go bust: Relying on third parties to deliver goods or services is usual for most small businesses. But with insolvencies soaring, many face being left in the lurch if a supplier goes under
- Small business costs are falling:Operating costs for small business have fallen significantly, according to figures out today from insurance firm More Than Business
- Governments should provide more support for small companies: Governments need to invest as much effort in supporting small businesses as they have in supporting the large listed companies claims a leading accountancy body.
- 2009 Budget must support small businesses hit by declining confidence:The FPB has handed the Government proposals for a ‘Budget for Business Survival’, focusing on boosting business confidence and lifting the UK’s economy out of recession.
- MEP: Madness to employ child-bearing age women: Small businesses in Britain prepared to employ women “of child-bearing age” must be mad, a Euro-MPs said today.
- Banks still not lending, firms complain: Despite government efforts to encourage banks to increase lending to entrepreneurs, small businesses still need more support, according to a new survey conducted by the Forum of Private Business (FPB).
- Third of small firms facing credit squeeze: Small firms are struggling to access credit as banks reduce commercial overdraft facilities and seek more security for loans, a new report reveals
- SFA warns employers of risks of internet abuse: The Small Firms Association is warning that businesses are facing a growing problem over e-mail and internet abuse by employees.
- Out of the recession is emerging a ‘new bread of business owner’: New research has revealed that a new breed of ‘super entrepreneurs’ are evolving as a result of the downturn. These business owners, who Darwin would have been proud of, are making themselves fit to survive the current downturn and thrive into the future.
As always this list is not exhaustive, but I hope it will give you a little overview. — ST.