UK/Ireland Small Business News Round-up – 2009/05/01

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:

  • SME Invoice Finance Issues Budget Guide: This month, SME Invoice Finance newsdesk stories are influenced by expectations of what the contents of that famous red leather briefcase might look like! Not long now to discover whether some of the predictions and “wish lists” from industry groups are to become a reality.
  • Women Entrepreneurs could boost economy: The majority of female owner-managers are focused on growing their businesses. According to a survey of women business leaders, 63 per cent intend to develop their enterprises, with 22 per cent looking into starting new ones.
  • Budget 2009; Small firms being ignored: Small businesses were handed a lifeline worth up to £5bn but they said the Chancellor had largely ignored their plight
  • Small firms baffled by the small print: Alistair Darling last night claimed to have launched a £2.5bn attempt to help British business weather the downturn and invest through the recession. With 120 small businesses folding each day and forecasts that around 40,000 British companies could collapse in 2009, the Budget focused on throwing money and tax breaks at the problem.
  • Small firms get credit insurance help: Small business commentators have welcomed a new scheme to enable them to purchase ‘top-up’ trade credit insurance from the government if credit limits on their UK customers are reduced.
  • SME Budget reaction: Small businesses are decidedly underwhelmed by Alistair Darling’s Budget. Joe White, COO of IT company Gandi, says: ‘There were no surprises really. It was important for Darling to manage expectations and keep his forecasts in line with what other people are predicting about the UK and global economy.’
  • The Forum of Private Business: The FPB is concerned that the 2009 Budget has failed to address the main issues threatening the UK’s struggling small businesses. Proposals to improve access to finance, ease the burden of costs and stimulate economic activity were absent from today’s announcement. In addition, although the Government has unveiled a new £1.7 billion job creation fund, nothing has been done to help smaller employers hold on to their key staff.
  • Businesses waiting 69 days for overdue debts: The Irish Small and Medium Enterprises Association (ISME) says securing the payment of overdue debts is becoming a growing problem for many businesses.

As always this list is not exhaustive, but I hope it will give you a little overview. — ST.

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