SMEs news and archive

UK government announces new support for small businesses

Chancellor of the Exchequer, Rachel Reeves, has announced that the UK government will “unlock billions in finance” for small businesses, marking one of the most significant reforms to support small and medium-sized enterprises (SMEs) in years. In a statement, HM Treasury said that 12,000 additional SMEs per year will receive support accessing...

Retail

Shoppers turn to small businesses during challenging economic landscape

Over half (52 percent) of small businesses are receiving “much-needed support” from customers as they choose to shop small to support them during the current challenging trading environment, according to new research from American Express. The research, conducted by Opinium on behalf of American Express, also found that the support for small...

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Fashion

The Business of Fashion, Textiles and Technology awards grants to SMEs for sustainable innovation

The Business of Fashion, Textiles and Technology (BFTT) research and development programme have awarded a further 1.1 million pounds to 13 small-to-medium-sized enterprises that place sustainability, innovation and social purpose at the heart of their business model. This latest injection of funds follows an initial 1.2 million pound investment...

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Business|INFOGRAPHIC

Instagram creating new wave of UK entrepreneurs

With one in three UK small businesses building their business on Instagram, the picture-sharing social media network that launched seven years ago states that millions of entrepreneurs are using the platform to transform their passions into businesses. In a new report, ‘The Insta-Economy’, Instagram reveals that the growth in small businesses is...

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Business

UK SMEs need to embrace mobile shopping

British small businesses need to stop ignoring the success of the smartphone, according to new research from PayPal, which reveals that only 18 percent of the UK’s SMEs have mobile-friendly websites. With mobile shopping estimated to hit 27 billion pounds in 2017, according to the Centre for Retail Research, PayPal is stressing that small...

Retail

UK retailers “in a race to stay relevant”

A third of small and independent British retailers fear that they may no longer be relevant due to advancements of technology and changing consumer habits, according to new research from Worldpay. Just under two-thirds (61 percent) of respondents to the Worldpay nationwide survey said technology poses a significant threat to their survival,...

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Business

Banks not fulfilling retail SMEs foreign currency needs

Small and medium-sized enterprises in the retail industry who are looking to expand internationally are being hindered by “poor service, unclear fees and a lack of appropriate products” when using banks for international currency transfers, according to new research from currency experts, World First. The research surveyed more than 1,000 senior...

Retail

'No-cation' for small retailers

Around 75 percent of small business owners in the retail sector don’t feel they have enough of a work-life balance to take a holiday, according to new research by payment processing company, Worldpay. The report ‘No-cation,’ which surveyed 500 SMEs revealed that more than one in five small retailers haven’t had more than a week off in over three...

Retail

UK SME's save 6 million pounds through Worldpay Benefits Club

Worldpay, British payment processing company revealed that its SME customers have collectively saved 6 million pounds in value-added business services since the launch of the Worldpay Benefits Club last July. The Club, which is part of Worldpay's commitment to help SMEs grow, is run in partnership with Huddlebuy, benefits provider for startups...

Retail

Retail SMEs are the least optimistic for 2015

Small and medium-sized retailers are the least optimistic for growth in 2015, according to a new survey by YouGov commissioned by Npower Business. The research found that SMEs in the retail sector are lagging behind the UK’s manufacturing, business services, and hospitality and leisure sectors in terms of confidence for 2015, with only 43...