18 business focus
Business confidence falls to three-year low
Business confidence has fallen to a three-year low, according to the latest Business Trends Report by accountants and business advisers BDO LLP.
BDO’s Business Optimism Index, which predicts growth six months ahead, has declined to 100.0, the tipping point below which firms expect their output growth to drop under the long-term trend rate.
The findings come following a challenging start to the year for the global economy. Previously the UK has remained resilient to global economics fears, but headwinds from the American and Chinese economies and turmoil in the Middle East are finally starting to take their toll.
The impending referendum on the UK’s membership of the EU is fuelling further uncertainty for UK businesses looking at their long-term prospects.
The poor performance of the manufacturing
sector continues to weigh down the UK economy in the short term. Manufacturing output contracted last month, following decreasing global confidence, indicated by its sub-index dropping to 94.7, below the 95 level which separates growth and decline.
Commenting on the findings, Malcolm Thixton, lead partner at BDO in Southampton, said: “Global headwinds are finally hitting business confidence, and the added uncertainty of an EU referendum just round the corner is fuelling concerns.
“So far the Government has done a good job in sheltering the UK economy from global storms but there is more that could be done. For instance, one small but helpful thing that the Government could do would be to introduce a zero rate of VAT on companies which supply to exporters, as currently happens in Ireland. This would boost UK manufacturing and encourage more trade abroad.”
Blue Chip predicts growing need for managed IT services
In 2015 there was a noticeable increase in the number of businesses choosing to use managed services for their IT, according to Blue Chip. The services and solutions organisation predicts that this trend will continue to grow in the next financial year.
Blue Chip’s sales managers say the size of the company can play a large role in the decision for a business to employ a third-party IT service provider. SME sales manager Guy Nelson said: “The customers my team works with can find it difficult to recruit and maintain talented IT staff. SMEs may not have the budget or even the need to employ
a full-time member of staff to handle their IT requirements, which is why they turn to Blue Chip.”
However, it’s not just SMEs who are turning to companies like Blue Chip. Large companies are also feeling the need. Enterprise sales manager Richard Bessant commented: “More companies these days are finding that their IT has to be available 24/7, particularly as ecommerce becomes increasingly popular.”
For those not wanting or able to commit to a long-term financial obligation, Blue Chip also offers flexible, pre-paid support packages.
RSM moves up to sixth in global rankings
RSM, which has offices in Southampton, has announced a 6% increase in global-fee income, moving the brand up one place to become the sixth-largest global network of independent audit, tax and consulting firms.
Fee income for RSM’s international network rose to $4.64 billion for the financial year ending December 31, 2015. Turnover rose by 10% in the US, 10% in Europe (based on fee income in local currencies), 6% in the Middle East and North Africa, 1% in Asia Pacific, and 9% in Latin America.
Audit and accountancy fees increased by 4% to $2.27b, tax grew by 7% to more than $1.35b, and consulting/advisory was up 6.9% to $1.02b.
The UK firm, formerly known as Baker Tilly, adopted the RSM brand and trading name on October 26 last year as part of a co-ordinated global rebranding exercise in 120 countries.
John Taylor, office managing partner at RSM in Southampton, said: "Our rise in the global ranking underlines the strength and depth of our international network. Businesses locally are increasingly looking for support to operate in a complex and ever-changing global environment. Being able to draw on expertise from across RSM’s global network is proving to be invaluable for our local clients."
During 2015, RSM appointed 11 new member and correspondent firms in Bangladesh, Belarus, Bosnia and Herzegovina, Colombia, Italy, Mali, Niger, Philippines, Sri Lanka, Tajikistan and Zimbabwe. RSM now comprises more than 38,000 staff working across more than 760 offices in over 120 countries.
Trivino launches marketing service with built-in ROI
As well as being The Business Magazine’s very own South Coast business manager, Frank Trivino has launched a marketing consultancy aimed at businesses on the South Coast needing an outsourced marketing function.
“My intention with MoreThanJustMarketing is to offer a full range of marketing activities to SMEs, whether they have an in-house marketing function that needs help with a specific project or are looking to take that next step.”
With over 30 years of sales and marketing know-how, MoreThanJustMarketing aims to offer a personal yet professional service tailored to the unique needs of the companies it works with.
Trivino added: “We will help our clients
www.businessmag.co.uk
develop or refresh their marketing strategy. We will take time to get to know them and their business, define their objectives and help them implement a marketing programme that achieves their goals.”
A key point of difference for MoreThanJustMarketing is its offering of marketing plans with measureable ROI built in.
Trivino is also offering a free one-hour initial consultation as part of the service.
Details:Frank Trivino 07792-329791
frank@morethanjustmarketing.co.uk www.morethanjustmarketing.co.uk
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – MARCH 2016
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