Business matters
A monthly roundup of what’s happening in the business world.
Dealers need ‘golden quarter’ Retailers are crossing their fi ngers Christmas and New Year has delivered 40 per cent of their yearly profi ts. Many fi rms rely on what is classed as the ‘golden
quarter’ for the year, which includes the usually profi table Christmas period, to boost disappointing
sales seen throughout the year. But many independent experts are warning that there is more
bloodletting to come across the High Street. Companies now face a new threat from consumers, who are using a variety of different platforms to shop with, from mobile phones to tablets. Dan Wagner, CEO and chairman of mPowa and Powa Technologies, said:
“Convenience has been a real driver in the take-up of online shopping and it is now do or die for retailers in terms of embracing how consumers interact with stores and their products. Multichannel shopping is now how consumers buy their items in a process that includes tablets, mobile phones and computers, as well as the High Street.”
SMEs struggle with debt Despite signs that the economic climate is recovering, small and medium-sized enterprises (SMEs) continue to struggle with cash-fl ow problems. The Baker Tilly SME Distress Monitor, drawn from just over 25,000 SMEs, shows that nearly a quarter had
insuffi cient funds to pay their short-term debts and, as a result, may be unable to fund any future recovery. But it’s not all doom and gloom. Despite research showing that more than
one in fi ve businesses (21 per cent) reported a fall in pre-tax profi ts of 50 per cent or more, it’s slightly up on the previous year’s fi gure of 24 per cent. Figures for sales also appeared to be holding up more strongly, with 14 per
cent of businesses saying that they had seen sales fall by around 10 per cent, which was lower than in the previous year. The research also showed that sales were holding up better than
profi tability, which could indicate that businesses are discounting prices, leading to an increase in pressure on their margins.
Exporters need Government cash Government-backed schemes that provide much needed fi nance for SMEs should favour proven or potential exporters, according to William Chase. Mr Chase, the founder of the Tyrrell’s crisp empire and owner of the Chase Distillery, said: “The only way
for the UK economy to grow is to sell more abroad and bring in new cash. “Banks aren’t, and haven’t been, lending to businesses, and SMEs
in particular. It’s a ‘Catch 22’ situation – the banks won’t lend until the situation improves and the situation will not improve until growing businesses can borrow money at sensible rates.”
Autumn Statement not that helpful Small-business owners have welcomed many measures in George Osborne’s Autumn Statement but believe that he could have done more to support entrepreneurs, research reveals. In a snap poll of participants in live coverage of the
speech by
BusinessZone.co.uk and
AccountingWEB.co.uk, 60 per cent said that the announcements were friendly but not friendly enough in terms of small-business support. Another 20 per cent said that the speech was very friendly towards SMEs, while 15 per cent believed it was lukewarm. Just fi ve per cent complained that it was anti small businesses.
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