By Rob Brooker, Director, Opus Forensic Accounting Let’s start with a question: Was fraud prevention ever only a finance function? After 27 years working in fraud prevention across the private, public, and third sectors, I can confidently say the answer is no. Throughout my career, I’ve seen fraud fall under the remit of Audit, Risk, Legal, Compliance, Governance, Security, the Chief Information Security Officer (CISO), and, yes, Finance. But wherever it sits, the most important thing is this: fraud prevention must be a collaborative effort, and ultimate responsibility should lie with the Senior Leadership Team and the Executive Board. This is…
Author: sme-admin
New data reveals a gap between ambition and action, as knowledge shortfalls prevent businesses from accessing capital UK SMEs overwhelmingly agree that access to funding is vital to growth – but many are holding back, risking knock-on effects for the wider economy. That’s the warning from alternative finance provider Growth Lending, whose latest research shows that despite 84% of SMEs recognising funding as essential, almost a third (31%) didn’t apply for any finance in the past year. The findings, from Growth Lending’s Geared for Growth 2025 report, highlight a growing disconnect between intent and execution – and come at a critical time for the UK…
Joel Stone, best-selling author and founder of Shropshire-based marketing agency Codebreak, explores the rise of the CEO of Nothing and explains why you should be wary of so-called ‘gurus’. The other day, I saw someone post an Instagram Reel about the day in the life of a CEO. Now, I know some CEOs; people who are chief executive officers of fairly substantial boards, and I know what a day in the life of a CEO looks like for them. But the person behind this Reel is the only person in their business. They’re the only executive officer on their board, so…
Employers are inclined to keep all information relating to their business and employment relationships as confidential as possible, particularly when those relationships break down and come to an end. But how easy is it to keep an ex-employee quiet? Nick Benson, a consultant solicitor at Arbor Law, which provides employment law advice for businesses, answers that question. UK law (English, Welsh and Scottish) has always recognised the employment relationship as a contractual one, supposedly a mutual contract, with work and pay being the main forms of consideration. And just as the relationship is struck by contract, so it can be…
By Andreas Mjelde, co-founder and CEO, Two This week, the UK Government’s consultation on e-invoicing came to a close, a significant moment that could shape the future of how businesses transact across the country. The consultation sought input on how to increase adoption of e-invoicing across both public and private sectors. For small businesses, this isn’t just about digitising paperwork – it’s about survival. According to QuickBooks, three in 5 (62%) UK SMEs reported overdue invoices in the past year, with an average of £21,400 owed. Many SMEs operate on extremely tight margins, and a delayed payment can significantly exacerbate…
By Eugene Muller, Technical Manager, Probrand The news that the number of cyber breaches and attacks on UK small businesses has dropped made for joyful reading. The figures, which come from the government’s latest annual cyber security breaches survey, seem to indicate that small businesses may be gradually improving their security practices. As someone who works to help SMEs protect their people, devices and data, however, I would urge caution. While the numbers have fallen, the figures are still high – 612,000 UK businesses experienced an attack in the last twelve months. It’s critical that SMEs don’t become complacent and…
The University of Salford has joined forces with Manchester Metropolitan University to equip more SME manufacturers with the strategies and skills needed to thrive in the digital age. The universities have been named as delivery partners for Made Smarter’s Leading Digital Transformation (LDT) programme , a government-funded, industry-led initiative accelerating digital transformation across the North West’s manufacturing sector. This pioneering, fast-track programme is designed to transform business owners and senior managers into digitally informed, empowered leaders, armed with a bespoke digitalisation strategy tailored to their organisation. Since its launch in 2023, the LDT programme has supported 54 participants in developing…
As a small business, it’s easy to think you simply don’t have access to the kind of technology which is helping the bigger players get ahead. There are a wealth of expensive and expansive options out there which larger companies spend their inevitably larger budgets on, and that can be seen as a superpower. Yet, in focusing on what they can’t access, small businesses are overlooking their own superpowers: the ability to understand their own company at a micro and a macro level, and the massive advantage of quick decision making. Larger businesses are often weighed down by complicated and…
Paul Holland, Managing Director for UK/ANZ Fleet at Corpay, including UK brand, Allstar, shares data and insights from Allstar’s research drilling down into those factors that are taking a toll on the UK’s business owners. UK businesses are no stranger to battling an onslaught of challenges, with inflation and economic uncertainty high on the culprit list. Business owners have therefore become adept at spinning many plates, from increased workloads, to staffing issues and market fluctuations, yet recent research found that a third (35%) say chasing payments is the most frequent problem they encounter. This is an unnecessary drain on business owners…
By Martyn Janes, Lead Cyber Underwriter at rrelentless As the economy continues to face turbulence, the UK and, in particular, small businesses must find new and creative ways to survive and flourish. For these companies, this means navigating financial uncertainty while contending with new challenges such as rising cyber threats and greater regulation on their operations. For business founders, there’s often no guiding light to help them navigate the mass of regulations and risks they face, which can seem overwhelming. For all their enthusiasm to build something new, they still rely on outside sources to help them and can be…