According to specialist SME Lender Sonovate, nearly two-thirds of their small business clients say late payments from their customers are affecting their ability to pay contract workers on time. They claim that the proportion of SMEs that have problems paying their staff on time had risen to 50% last year. This is mainly caused by…

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Many UK SME businesses prioritise survival The Yorkshire Post reports that 1 in 11 SME businesses in the UK have survival as their first priority, 77% rate current government support as “poor”, according to a survey by the Association of Practising Accountants (APA). Economic uncertainty is one of the biggest challenge over the past year…

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UK firms struggle to access domestic investment capital Many British firms are struggling to access domestic capital.This leads them to seek funding from global sources. This is according to a recent report by the Treasury Select Committee. This is supported by a report from KPMG. They say that fintech investment in the UK dropped by…

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The UK lags behind on the use of Robots. The UK has 111 industrial robots for every 10,000 manufacturing workers. This is below the global average of 141. This leaves the UK the lowest in the G7 and 24th in the world. The US has 274 robots per 10,000 workers, while Germany has 397 and…

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A British Business Bank proposal The BBB has concentrated over the last three years on the administration of pandemic support schemes. The Times reports that it has had talks with Louis Taylor. She is the new chief of the British Business Bank. They talked about the state economic development agency’s plans to boost investment into…

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A Committee has been established! The cross-party Treasury Committee has launched an inquiry into the challenges faced by small businesses when seeking finance. The committee will look at a number of issues. These will include how easy it is for small firms to access finance and the regulation of small business lending. They will also…

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