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UK Government Support for Start-ups and Small Businesses

Here in the UK we’re a nation of small businesses with an economy that very much relies on SMEs for success.  At the beginning of 2016 there were a record number of private sector businesses, a whopping 5.5 million, and 2 million more than there were at the beginning of 2000 so this really does represent a growing trend.   You may be surprised to learn that small businesses account for 99% of these private sector businesses and 99.9% of those were small or medium sized enterprises (SMEs).  These SMEs have a combined annual turnover of £1.8 trillion which is 47% of all priv

Late Payment and How to Deal with Excuses for SMEs

Last week we took a look at dealing with debtors and published some tips that SME owners could use in order to secure payment.  With late payments representing a continuous challenge to SME owners and potentially having a severe adverse effect on maintaining a steady cash flow, today we’re going to take a closer look at some of the excuses that are often given for making late payments.

Keeping it in the Family

Here in the UK we’re a nation of business owners.  At the beginning of last year there were a record number of private sector businesses, a massive 5.5 million of them, to be exact and that’s 2 million more than there were at the beginning of 2000.   You may be surprised to learn that small businesses account for 99% of these private sector businesses and 99.9% of those were small or medium sized enterprises (SMEs).  These SMEs have a combined annual turnover of £1.8 trillion which is 47% of all private sector turnover here in Britain.  These figures clearly demonstrate th

Dealing with Debtors – Top Tips for SMEs

When it comes to running a small to medium enterprise (SME) here in the UK one of the biggest challenges you face is maintaining a steady cash flow, it’s a vital issue and the lifeblood of your business.  While you may think that sales are the most important requirement to run a successful business, the sales don’t amount to much if your customers don’t pay you on time – or, worse still, don’t pay you at all.  Most of us who operate a small business accept that late payments is just something that we need to put up with, this is not the case.  Late payments can do some ser

Five Essential Skills for Small Business Owners

If you’re a small business owner here in the UK, you’re in good company.  Small to medium enterprises make up more than 99% of all private sector business in Britain and the majority of these (a massive 99.9%) are small or medium sized (SMEs).  Operating a small business means fulfilling several roles and functions as a business leader and it’s vital that you have the necessary skills in order to ensure success for your business.  While hard skills and knowledge of your industry are essential, there are plenty of soft skills that can make all the difference between your bu

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