Author Archive
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Three-quarters of SMEs experience cyber attacks
The cost of the most severe kind of cyber attack on small and medium-sized businesses (SMEs) increased to £310,800 in 2015 - up from £115,000 in 2014. According to the Government's Information Security Breaches Survey 2015, the cost of online security breaches for big business are now likely to start at £1.46 million – up from £600,000 in 2014. However, more firms are taking action to tackle cyber threat, with a third of organisations ...
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CBI: UK growth accelerates to 12-month high
The CBI’s latest Growth Indicator shows UK growth quickeing in all three main sectors. The trend was modest in the manufacturing sector and strong in the retail sector, but business & professional services was the stand-out performer, recording its fastest growth in volumes since early 2006. The sector was the main driver of the overall acceleration in growth. The Growth Indicator reading of +33% for the three months to May was sharply up on the three ...
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Spending power confidence drops
The latest Lloyds Bank Spending Power Report shows overall consumer confidence taking a step backwards last month, after seeing an upward trend since the start of the year. Respondents' feelings about their current and future financial situations levelled off, with uncertainty in the run up to the General Election potentially restraining confidence towards personal finances (down 1%); household finances (down 1%); and the country's finances (down 5%). The data also shows a fall in essential spending in April (-0.8%) , ...
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New support for fledgling exporters
The Government has launched a programme of expert advice and support to help companies expand into international markets for the first time. The First Time Exporters initiative, which is run by UK Trade and Investment, is a new package that can give firms the opportunity to take part in trade missions to nearby markets and help them develop their first contacts with foreign buyers. The scheme can also helps companies that are considering exporting for the first ...
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British strawberries sweeter and juicer
British soft fruit growers believe that the short delay to the start of the season, caused by cooler weather, has resulted in stronger plants. This should help boost the size of the fruit and sugar levels, making British strawberries sweeter and juicer than normal. British Summer Fruits, which represents 85% of growers supplying berries to UK supermarkets, explains that the sweetness of strawberries is measured in degrees called Brix - the measure of sugar in a ...
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New online guide for credit insurance brokers
A new online guide to help credit insurance brokers access government-backed export insurance has been published by UK Export Finance (UKEF). The guide sets out how brokers can help firms insure their export contracts against non-payment, explaining each step of the application process for UKEF’s Export Insurance Policy (EXIP). The policy is available to companies that have been unable to secure insurance from the private sector and brokers can use the toolkit to reinforce their credentials ...
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UK desperately needs to rebalance economy
The protracted General Election campaign created uncertainty that led to businesses holding fire on their investment and growth plans, according to the latest ICAEW/Grant Thornton UK Business Confidence Monitor (BCM). Business confidence is flat this quarter, as the survey suggests turnover and profit growth over the next 12 months will be weaker than the past year. Key findings for Q2 2015: The BCM Confidence Index stands at +16.2, down marginally from +16.8 – showing that outlook has ...
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Business activity continues to grow
Economic activity across England and Wales continued to grow strongly at the start of the second quarter of the year, according to the latest Lloyds Bank Regional Purchasing Managers’ Index. Robust increases in both business activity and new work were recorded in April, although growth rates were slightly slower on average than in March. The survey also revealed the steepest monthly drop in prices charged since 2009, highlighting continued deflationary forces. The fastest overall increase in business ...
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Surge in commercial real estate demand
Demand for commercial property in the UK is growing close to its fastest pace since 1998, according to the Royal Institution of Chartered Surveyors (RICS). In Q1 2015 the UK saw its 10th consecutive quarterly acceleration of demand for commercial properties, with 46% more respondents seeing greater interest. In the investment market, enquiries also increased significantly with 49% more surveyors seeing more prospective investors – continuing the trend of rising demand which began towards the end of ...
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CofE rejects fossil fuel investments
The Church Commissioners and The Church of England Pensions Board have announced they will divest £12 million of investments from the thermal coal and tar sands sectors and will not, in future, make any direct investments in any company where more than 10% of its revenues are derived from the extraction of thermal coal or the production of oil from tar sands. The move follows the adoption of a new climate change policy recommended by the Church's Ethical Investment Advisory Group that sets out how its investing bodies will support the transition to a low carbon economy. The ...
