After several years of economic uncertainty, the UK’s small business landscape is showing an interesting, and encouraging, shift in borrowing behaviour. According to the British Business Bank’s latest Small Business Finance Markets Report, fewer SMEs are using external finance – down from around half to just over 40% – yet the total value of lending is on the rise. In other words, smaller firms aren’t borrowing less, they’re borrowing smarter. The “selective borrower” has emerged, and they’re more cautious, and increasingly focused on investment that drives efficiency and growth rather than short-term survival. Here, Rory Crisp‑Jones of Jones & Co Finance, argues this…
Author: sme-admin
Two fifths of UK employers (40%) are actively hiring people returning from a career break, while around a third are actively hiring (31%) – or looking to retain (37%) – older workers, new research from independent consultancy Barnett Waddingham (BW) reveals. The findings reflect an environment of mounting pressures both within, and outside, of businesses. Internally, a growing number of people are delaying their retirement and choosing to work for longer; earlier this year nearly two fifths (36%) of employees said they had already, or were considering delaying their retirement because they wanted to continue working, or due to financial…
Yaron Rosenblum, co-founder and CEO of Canvas Offices, explores how workplace design has matured from the gimmicks of slides and bean bags into something far more meaningful – spaces built around employee needs, research, and wellbeing. Top Five Must-Haves in Every Office Space Office space design has moved on substantially over the years, with typical 20th century rows of grey cubicles giving way to media hype around outlandish features like slides and bowling alleys. But thankfully, before all office chairs were replaced with bean bags, we seem to have reached a middle ground, with the rise of spaces which offer amenities based on employee…
New research has revealed an “authority gap”, which could prevent line managers from performing their roles effectively. The survey of over 500 UK line managers, commissioned by HR software provider for small and scaling businesses Breathe HR, found that while line managers are tasked with responsibility, they often lack authentic power and authority within their organisation. This phenomenon, which experts are calling the “authority gap”, might include lacking the power to influence and make key decisions autonomously, control budgets, and shape team objectives, despite having a managerial role. “Authority gap” creates cohort of “fauxthority” line managers Overall, nearly two-thirds (62%) of respondents admitted that, although…
The stalemate over the Employment Rights Bill continues as the House of Commons refused to agree to the key amendments requested by the House of Lords. Among the sticking points is the crucial issue around unfair dismissal rights; the Lords want a six-month qualifying period while the government insists this should be a day one right. And with this having been a key pledge in Labour’s election manifesto, it’s clear that they are not wanting to back down. So, what happens next? For now, the Bill goes back to the House of Lords, with no immediate resolution in sight. Kate…
As reports emerge that the Treasury may consider a pay-per-mile or fuel duty-style tax for electric vehicles, Paul Holland, Managing Director for UK/ANZ Fleet at Corpay (including Allstar), warns that such a move would risk stalling the UK’s transition to cleaner transport. He says the Autumn Budget is the government’s chance to back electric adoption, not burden it, noting that higher running costs would push both drivers and fleets to delay the switch. “The Autumn Budget is where the government sets out its priorities and right now, taxing EV drivers would send all the wrong signals. The idea of a…
Small changes to policies and processes could help SMEs improve their cashflow levels, a senior finance professional has said. Matthew Grant, Yorkshire Head of Accountancy and Business Advisory at international accountancy and business advisory group Azets, is encouraging business owners to think strategically about their terms of trade and customer relationships, and review their debtor days, and payment processes and policies. His five key tips are: Implement robust terms of trade: clearly setting out terms and conditions at the start of a new working relationship puts everyone on the same page and gives the business protection if a client fails…
By Mim Mogul, UK Managing Director, BauWatch The government’s recent decision to reject blueprints to combat construction theft is deeply concerning. The proposed plans would have seen mandated forensic marking of power tools and compulsory fitting of immobilisers to machinery, but were rejected by the Home Office following a consultation on tool theft. At a time when the construction industry is haemorrhaging around £800 million annually to criminals, and when industrial-scale theft has surged by 67% over the past year alone, according to our research, this inaction sends a troubling message that tackling construction crime isn’t a priority. The Home…
As the Autumn Budget approaches on 26 November, speculation is mounting that Chancellor Rachel Reeves could target pensions as part of a wider fiscal reset. Rumours suggest potential reforms to pension tax relief, salary sacrifice schemes, and even the long-standing 25% tax-free lump sum may be heading toward the UK pension sector, prompting concern among savers and employers alike. This is according to pensions specialist, Penfold. According to the Institute for Fiscal Studies (IFS), the government faces a £22 billion funding gap. With the Chancellor having ruled out increases to income tax, VAT, or National Insurance, attention is turning to more technical areas of the tax system – including the generous reliefs that…
Radius Group has grown into a trusted partner for UK businesses. Supporting businesses of all sizes, Radius is geared towards driving cost savings and convenience when it comes to fleet management, offering offer fuel cards, telematics, vehicle leasing, EV charge points, telecoms and more to businesses globally. SME Today spoke to Sam Eggington, Head of Specialist Sales at Radius. With over a decade of experience in technology sales, Sam is passionate about helping businesses harness technology to solve real challenges. He is driven by making a genuine difference for customers, focusing on solutions that deliver value, simplify operations, and enable…