Insights
Drawing on the expertise of our partners, K2’s insights delve into the business issues of today, predictions for tomorrow and topics that matter to directors and business leaders.
Businesses should be selective in adopting AI for their processes
Almost 80% of UK companies report difficulty filling jobs according to analysis by the Manpower Group. So is using AI
What can SMEs do to protect themselves from skills shortages?
BCC’s most recent update on the difficulties to find workers highlights shortages in several key areas. The February 2023 update
Small business hopes on late payment and the budget
The difficult economic climate has had a significant impact on small businesses as is well known. But one area that
What perks do employees most value and how important are they?
It can be a challenge to recruit and retain the best staff, especially at the moment, but can offering perks
Is CEO pay a fair reflection of what they do?
In the context of rising costs of living with more and more ordinary workers struggling to make ends meet this
Turnaround guru Anton de Leeuw scoops double honours in national awards
Turnaround expert Anton de Leeuw is celebrating scooping double honours in the prestigious TRI awards 2022. Anton beat dozens of
Can you think a business into insolvency?
Insolvency Service figures show that total company insolvencies registered in England and Wales jumped by 57% year-on-year to 22,109 in
Can collaboration strengthen your business?
With trading conditions as difficult as they currently are anything that can help to safeguard your business would seem like
There are good reasons to employ older workers
It has been calculated that there are around 300,000 fewer people in the workforce than there were before the pandemic.
Restructure now rather than later
Corporate insolvencies rose by 32%, 1,964 in England and Wales in December 2022, according to Insolvency Service data, compared with
An option for reducing business costs?
Flexible and remote working is now considered acceptable by many businesses according to research by two UK universities. York and
Director wellbeing: pay attention to your mental health
Welcome to the New Year. We hope you all had a peaceful Christmas with time to refresh yourselves, restore a
We won! 🏆
A massive well done to everyone at K2 Business Partners after winning Turnaround Practitioner of the Year at the TRI Awards last
This is not the time to be worrying about imposter syndrome
Imposter syndrome is when a person doubts their skills, talents and accomplishments despite external evidence and lives in fear of
How can business sustainability help with recruitment?
The Harvard Business School definition of business sustainability is twofold. It says there are two things that should be measured
Business responses to measures in fiscal statement are lukewarm
Before yesterday’s fiscal statement from the UK’s Chancellor, businesses via the CBI had been calling for the Government to reconsider
Will this Thursday’s Autumn Statement bring good or bad news for businesses?
The signs are not good as the Chancellor of the Exchequer warns of the dire state of the UK’s finances
What can you do to protect your supply chain in the current economic climate?
In the UK businesses can use a number of legal tools if faced with a dysfunctional supply chain. They include
Can your business weather the current economic storms?
Should you restructure your business when it is not insolvent? According to an article in the online publication The CFO
A disconnect in perceptions of productivity?
The results of a recent survey of more than 20,000 people in 11 different countries has identified two completely opposite
Can you justify your R & D tax credit claim?
As reported in Accountancy Today, HMRC has shifted its focus from dealing with Covid fraud to R & D claims.
Supreme court gives clarity to directors in insolvency
The UK’s Supreme Court has clarified a duty for directors relating to business insolvency. The ruling says, “directors’ duties to
Need someone to talk to?
We have been talking for some time about the mental health problems that might be affecting business owners and CEOs
Will the UK mini budget kick start the stagnating business economy?
Against a backdrop of soaring company insolvencies, up by 72% in the last year according to the Insolvency Service, and
How is your self confidence?
We have been talking for several weeks about mental health and how important it can be to business owners especially
Agility, innovation and keeping your wits about you…
Agility, innovation and keeping your wits about you… ..will be needed to survive the current storm of financial and other
One person doesn’t have all the answers
Being the boss of a business can be a lonely place especially when times are as troubled as they currently
Mixed messages a sign of the times
Mixed messages are abundant right now. For example, when trying to ascertain the health of the construction sector, the following
Directors be warned!
A business no longer has to be in formal insolvency before the Insolvency Service can investigate directors’ abusing their powers
Shareholder pay-outs, investment and the balance sheet
The Balance Sheet shows the company’s assets and liabilities and how much money the business owes to suppliers at any
It is still important for businesses to protect their employees from Covid
Infections have been climbing again thanks to new variants and reportedly cases have risen by 29% in the UK in
Tough trading conditions are no excuse for fraudulent behaviour
According to the law firm Pincent Masons more than a third of UK company directors disqualified in April and May
Keep your valued employees by giving them a stake in the business
The numbers of employee-owned businesses have more than doubled in a year, according to the Employee Ownership Association (EOA). There
Don’t give up!
According to PwC the number of UK firms filing for insolvency in the first quarter was broadly similar to the
Lessons for business leaders from the Platinum Jubilee
70 years is a long time to have remained head of an organisation and to be dedicated to the duties
Walk away!
The most recent survey of small businesses carried out by the FSB (Federation of Small Businesses) has found that at
There are opportunities in even the grimmest situations
Research by the UK organisation Make UK has found that almost three quarters of UK manufacturers have reshored their supply
Are there situations where process automation produces a worse result?
A shortage of candidates amid a high demand for staff has for some time been a complaint made by businesses.
Insolvencies are rising fast
Insolvencies are rising fast But don’t give up now when help is at hand The insolvency service figures for the
Taking the longer view
Could taking on apprentices be a better business solution to the staffing crisis during the current economic uncertainty? It is
The post-Covid restriction dilemma for bosses and employees
Restrictions may have been lifted but Covid levels in the community are still high and this can cause problems for
A New Industrial Revolution?
How feasible is it to reshore our industries? The Office for National Statistics has reported that the UK has suffered
Don’t despair, do what you can
How you can protect your business in the current difficult climate As increased taxes, war in Ukraine and Covid staff
A problem shared…
The start of April sees a number of additional burdens placed on businesses. In addition to increased National Insurance contributions,
Promises, promises but not much help right now
Hard-pressed businesses already facing a perfect storm will hardly have been cheered by the 5% reduction in fuel duty announced
Being in business is a risky business
Businesses have been operating within a very uncertain climate ever since the beginning of the Covid-19 pandemic but now their
There’s no place to hide!
Don’t ignore communications from the tax man From the end of June last year, as I reported, HMRC has resumed
Is your bank manager supportive?
Now, perhaps more than ever, a business’ relationship with its bank is going to be crucial. With interest rates rising
Could your business handle a four-day week?
The UK is launching a four-day workweek trial from June to December 2022 (a six-month period where participating employees will
Do you really need all your employees to return to the office?
The guidance to work from home was one of the restrictions that was recently lifted along with several others that
Keep your nerve and stay patient
As restrictions imposed to control the Covid pandemic are lifted it would be tempting for businesses to ramp up their
Insolvency is not the end of the business story
Figures just released by the Insolvency Service showed a 33% increase on the number registered two years ago, just before the
Two heads are better than one
As the deadline approaches for the submission of annual tax returns it has emerged that some businesses are realising that
Happy New Year!
We hope you all enjoyed the festive break and were able to refresh, regroup and think ahead for your business
How does your supply chain stack up?
Materials, parts, products; they have all been subject to delays and shortages over the last year thanks to a combination
Is it time to rein in the Rentiers?
Businesses have now faced more than two years of uncertainty thanks to the constantly-changing environment caused by the Covid 19
Are you really listening?
The difficulties businesses are having in recruiting staff at the moment have been widely publicised and two recent pieces of
Are you a risk taker?
It is generally held that a business that tries to survive at its current level is one that is destined
Are your directors up to speed with their duties?
As the Insolvency Service is quite rightly vigorously pursuing those who have made fraudulent claims for help during the Covid
You CAN save your business and the planet!
It is all too easy to get buried under the weight of bad news and the pressures besetting businesses when
Why not call on some fresh talent and investment?
As if businesses did not have enough to deal with as they strive to get their businesses back on track
It’s good to talk
In tough and painful situations it can be tempting for business owners to struggle on, or live on hope, rather
Are you a good employer?
It may not be high on your list of priorities with Furlough ending and the struggle to survive and return
Businesses will need agility and flexibility for the foreseeable future
Arguably we are in the greatest period of uncertainty in living memory. A combination of geopolitics, the climate crisis, accelerating
Winding-up petitions in detail
Although the restrictions on debt collection have been mostly lifted from October 1 2021, some limits remain on the use
Turnaround Options – Can the business be saved?
Thank you to Carol Baker for including us in her article ‘Business Recovery Part 2: Turnaround Options – Can the
Tricky dilemma over staff?
In our Board Briefing published last autumn we covered the issue of making employees redundant if necessary when furlough came
Lessons and new opportunities from pandemic disruption
Business activity is starting to pick up after 18 months of disruption but what lessons have those that survived learned,
Where are you heading?
If your business has survived the last 18 months of uncertainty you may be hoping that activity will soon return
The tip of the iceberg?
The High Court has closed down two businesses this month after it was found that they submitted false documents to
Is it crunch time for your business at the end of September?
The Government’s furlough scheme to help employers through the pandemic is being scaled back, with wage support being reduced from
Directors with personal guarantees take note
Bailiffs (High Court Enforcement Officers) were given permission by the High Court earlier this year to use remote access technology,
Why take time out for a walk in nature?
No matter how busy I am I try to take a walk in the countryside at regular intervals. Why? Because
Director scrutiny over covid loans
Closing an insolvent business is a horrible experience but disqualification from being a director is even worse. In a recent
Leadership is about knowing when to ask for help
Businesses have faced a perfect storm of troubles during the Covid pandemic, leaving many of them perilously close to insolvency.
County Court Judgments and how to deal with them
CCJs are generally awarded against a company as the result of the business failing to pay a bill. This is
Will HMRC comply with the Business Secretary’s advice regarding VAT deferral repayments?
The Covid pandemic and the restrictions that have had to be imposed to try to contain it have been difficult
We are now on our way to ‘paperless’!
We may be a bit late to going paperless but our latest purchase has made us fervent converts. We recently
The 12 month loan repayment holiday has ended
The 12 month loan repayment holiday has ended. Small businesses are due to start repaying Covid support loans following the
Pressure on construction businesses as materials are in short supply
Building materials are running short in the UK putting pressure on smaller construction businesses. Supplies of timber, cement, steel, paints
Insolvencies. Now is not the time to relax
The most recent Insolvency Service figures have revealed that company insolvencies are 35% lower than before the coronavirus crisis. The report
Loan repayments, price rises and supply chain issues – a perfect storm?
As government support for businesses during the pandemic comes to an end a combination of circumstances means it is more
Cash flow and Bank management
The potential for unmanageable debt and for overtrading are identified as two key pitfalls for businesses as they seek to
Businsses should consider the RLS implications carefully
Can your business cope with another loan? The latest Government initiative to help businesses to get back on their feet
Furlough fraud and directors’ liabilities
The spotlight is turning to company directors as HMRC continues to crack down on fraudulent claims for furloughing staff. The
Is a lack of people with suitable digital skills affecting your business future?
Fewer than half of British employers believe young people are leaving full-time education with sufficient advanced digital skills, and 76%
Does your business really have enough cash?
Nursing your business through the pandemic lockdowns successfully is one thing, but there is a danger in ramping up activity
Leaner, fitter and facing the future with confidence?
As lockdown restrictions are gradually eased businesses will be preparing to increase their activity. But how many of them will
Ignore it and it will all go away?
It is very tempting in the current “abnormal” circumstances to ignore the warning signs that a business may be heading
Keep talking to your bank manager
At some point lockdown restrictions will be eased and businesses will be able to trade normally again. Many will need
Tony Groom hosts a TMA Webinar in Partnership with London Business School
COVID-21: Present and Future of Corporate Turnarounds 2020 was a gruesome year and many of us impatiently waited for its
Have you been tempted to cut your marketing budget during lockdowns?
Without marketing there are no leads and without leads there are no sales. It is extraordinary how often marketing budgets
Stronger together?
It is possible that merging with or acquiring a rival business may be the key to survival in the future.
Bailiffs during Covid -19. You can’t make it up!
A 3rd generation run client operating from the retail and wholesale premises for almost 80 years and sells fresh goods
How will you change your business post-lockdown?
Business life has without a doubt been unremittingly more difficult during the Coronavirus pandemic, not least due to the restrictions
Boards need investors who are willing to be patient and invest for the longer term
There are lessons for all businesses in this week’s collapse of Arcadia, albeit High Street Retail has had its own
Tony Groom chairs the 2020 TRI conference
Today, our Partner Tony Groom Chaired the 2020 TRI conference. In a central London studio, he hosted the live TV
Welcome relief for manufacturers uncertain about investing in new plant and machinery
A welcome relief for manufacturers uncertain about investing in new plant and machinery. The Chancellor has confirmed the temporary £1m
Will proposed relaxation of planning laws revitalise construction?
Last month the Government announced that it would enact legislation to relax planning laws so that full planning applications will not
The pros and cons of an infrastructure boost post pandemic
The UK Prime Minister has signalled a massive infrastructure boost to help the country’s economy to recover post pandemic. The
Is commercial property investment no longer a safe haven?
Commercial property pre-pandemic was considered one of the more secure options for money by investors, particularly by pension fund managers.
Business triage involves allocating limited resources to achieving realistic outcomes
Business triage refers to the process of prioritising work in a crisis when there is more work to do than
As businesses resume operations it’s a good time to take stock with a strategic review
I would normally be recommending a strategic review of your business at this time of year, when activity slows down
Directors should be mindful of future investment and changing values post pandemic
Businesses planning their post-pandemic strategy are likely to be seeking future investment to shore up their balance sheets but directors
What lessons can be learned from the 1930s New Deal for post pandemic recovery?
The New Deal was a series of measures introduced by President Franklin D Roosevelt to help the US economy recover
Protecting your business from technology post-pandemic
Last week one of my blogs highlighted the growth opportunities to businesses of adopting new technology post-pandemic. However, businesses, like
The future of global sea freight transport post lockdown
The words “new normal” have become something of a cliché in predictions for a post pandemic world but there is
Tech offers growth opportunities post lockdown
It is likely that there will be many growth opportunities for companies to embrace the use of technology after the
Is it time to stop propping up traditional so-called UK Key Industries?
The main UK Key Industries are often still considered to be aviation, aerospace, steel and car production. As a result
Directors should plan for innovative UK manufacturing to revive their businesses post-Coronavirus
UK manufacturing was in dire straits even at the onset of the Coronavirus lockdown, with the CBI (Confederation of British
A complex jigsaw puzzle for directors in planning a post-coronavirus retail strategy
As more restrictions are relaxed, allowing increasing numbers of retailers to re-open, directors have many issues to consider when planning
If remote working becomes the new normal businesses must pay attention to GDPR
Remote working has enabled some businesses to carry on throughout the coronavirus lockdown but have they paid enough attention to
Are you prepared for the next crisis?
Finance may be a primary consideration but it is not the only cost to a business in preparation for a
What is the difference between a Depression and a Recession?
Both a recession and a depression are characterised by an economic decline but the difference between them is down to
The Phases for dealing with a pandemic involving Zoonotic diseases
In 1999 the WHO (World Health Organisation) devised a blueprint based on Phases for dealing with a pandemic, subsequently updated
Potential Coronavirus pandemic business winners and losers
Given the slight easing of Coronavirus-related restrictions a week ago, some businesses are in the very early stages of preparing
How will work patterns change once Coronavirus restrictions have eased?
When working life resumes properly once Coronavirus restrictions have eased people may find that their work patterns are substantially different
Is it likely that there will be a permanent change in people’s behaviour post lockdown?
How people’s behaviour might change post lockdown is something that may be crucial for SMEs in planning ahead. While it
Is it time to introduce more resilient business systems for post-lockdown?
Just in time (JIT) business systems of supply for everything from supermarket stocks to manufacturing components and raw materials have
Has the Coronavirus lockdown exposed the weaknesses of many business models?
Robust business models should be based on a clear proposition with a plan for profitable activity. Each model is essentially
The latest insolvency statistics for the first quarter of 2020 don’t tell the whole story
Astonishingly given the news coverage of a financial fallout due to the Coronavirus pandemic, the latest insolvency statistics for Q1
Time for a rethink? The global supply chain and short-term thinking
A time of crisis, such as the current Coronavirus pandemic, exposes the weaknesses of inter-dependency and systems and in this
Five top tips for working at home efficiently and maintaining your mental health
Many companies have adapted to the Coronavirus lockdown measures by asking staff to work remotely from home, but how do
Coronavirus Business Interruption survival will need agility not pride
Arguably, all successful businesses need to exercise agility in a fast-changing world, but never more so than now in the
Get expert help with cash flow management in a crisis
In the current pandemic situation, many businesses deemed non-essential have been forced to temporarily close for a lockdown period and
How to manage an efficient online conference
As we all adjust to the new realities of working remotely while we self-isolate during the Coronavirus pandemic, we still
How will consumer spending change as a result of the Coronavirus pandemic?
Consumer spending has become much more restricted during the Covid-19 pandemic safety measures, but will it lead to a permanent
Nurture your key relationships if you want to have a future after current crisis
It may seem premature to talk about what happens when the Coronavirus pandemic is over but SMEs need to think
SMEs applying for support under the Coronavirus Business Interruption Loan Scheme should read the small print
Grabbing a lifebelt when you are drowning makes sense, but when that so-called lifebelt is a business loan to survive
Why you shouldn’t suspend your marketing during the Coronavirus pandemic
SMEs have had to close, suspend or reduce their activities due to the Coronavirus pandemic and most are looking for
To Pay or Not to Pay Quarter Day Rent & Business Rates – the latest
As if the pressure and worries SMEs are facing due to the Coronavirus pandemic were not enough, yesterday (Wednesday) was
In a crisis it is crucial that SMEs keep staff updated, especially those working at home
In the current Coronavirus-induced crisis people are understandably worried and frightened, for their jobs, their families and their health so
Maintaining a positive mindset about your business during the current crisis
Nobody would deny that the current pandemic-induced situation is a worrying time for SME business owners but they should do
Using the Pareto 80/20 Rule as a guide in your business
Many people in business are familiar with the Pareto 80/20 Rule, particularly the idea that 80% of their business comes
Something for everyone in the Spring budget – but will it be delivered?
Who could envy a Chancellor having to deliver a Spring budget just one month into the job and in the
Sector – business in UK’s North and Midlands
The UK’s North and Midlands were once the powerhouse for the country’s economy, with its manufacturing and engineering industries driving
Employing millennials should not be a problem
Employing millennials should not be seen as a problem but according to some reports in the business press many employers
Key Indicator: is the global supply chain too vulnerable to shocks?
For years, businesses have seen the global supply chain as a means of keeping down costs through sourcing goods and
Learning to really listen can benefit your business
How many of us really listen to what is being said to us? Listening is not the same as hearing
Late Payments putting even more pressure on SMEs in 2020
The amount owed to UK SMEs in late payments had allegedly risen to £50bn in early January according to research
Running out of cash – crisis management, the first step in dealing with a cash crisis
Crisis management when a company is in financial difficulties is about quelling the understandable panic and taking a long, hard
Will SMEs get more help from the Government?
Business pages are always full of articles claiming that SMEs need more help from the Government. But equally, there have
Sector focus on the UK newspaper industry, regional, national and online
The UK newspaper industry has faced multiple challenges for many years but somehow it manages to survive. In many ways
Directors’ duties and liabilities survive insolvency – a new court ruling
A recent High Court ruling on directors’ duties after insolvency has said that they cannot buy assets from their liquidated
Key Indicator – the state of UK business activity
UK business activity is either in a woeful state, or slowly picking up speed following December’s general election, depending on
Dire insolvency figures for 2019 – and little respite in sight?
The final quarter insolvency figures for 2019 make grim reading, as does the regular Red Flag update from insolvency and
Emotional Honesty at work – mutual respect turns a negative into a positive
There are many situations in our working life that have the potential to damage relationships with colleagues and managers and
Retrain to do what? The jobs of the future
A national government retraining scheme was proposed in July last year to help those workers whose jobs will become obsolete
Running a small business is a juggling act
A YouGov study has found that small business owners identified most strongly with the analogy of a juggling act when
Keep it simple – and polite – if you want a response to your email
It can be frustrating trying to get a response to your email but employing some behavioural psychology can help. Catching
What items are top of businesses’ post-election wish list?
Inevitably many promises were made during pre-election campaigning but how many will be delivered and what items are top of
If you want more effective meetings don’t use PowerPoint or bullet points
Effective meetings depend on discussion that is constructive and to the point, and on wasting as little time as possible.
Sector blog – The north of England and the future of the construction industry
There is no doubt that the construction industry has been having a torrid time in the last couple of years,
Starting the day right helps effective leaders to stand out
Starting the day right can take as little as two minutes and will make a difference to the rest of
Key Indicator – Stock Market behaviour predictable or not?
At the start of the new decade predicting stock market behaviour is anything but an easy task. A year ago,
The Good Business Charter may be the dawn of a new era
A new form of accreditation launched at the CBI conference in November, the Good Business Charter aims to promote a
Season's Greetings
We wish you all a very happy Christmas and a prosperous New Year
Addressing the UK skills shortage must be high on the new Government’s to do list
Businesses’ difficulties due to the UK’s skills shortage were high on their list for prompt Government action in the run-up
Purpose oriented leadership gives employees a reason to be engaged
Performing tasks to order is not enough to motivate 21st Century employees and instead they need purpose oriented leadership to understand
VUCA – protecting your business when nothing is predictable
VUCA is an acronym devised by the US military to describe an environment of Volatility, Uncertainty, Complexity, and Ambiguity. But
Sector focus – changes in consumer spending and attitudes?
It will be interesting to see the analysis of consumer spending once the Christmas and peak holiday buying season is
Update – sacked Small Business Commissioner speaks out
The now-ex Small Business Commissioner, Paul Uppal, has accused the Government of thwarting attempts to help SMEs tackle the late
December Key Indicator: Cars v Public Transport
Environmentalists advocate the use of public transport instead of cars as this will reduce carbon emissions and help combat climate
Do High Street banks care about their customers?
High Street banks rely on providing a service to customers yet too often it seems that customers are the last
Fair treatment of employees is a cornerstone for improving productivity
Improving productivity is a concern for all businesses but it is harder to achieve if employees do not believe they
After several high profile business failures – Is corporate governance robust enough?
Research by a provider of audit, tax and consulting services has found that only 21% of board members think corporate
Small Business Commissioner Paul Uppal sacked– is this down to his success in holding large companies to account?
In a worrying development the Government has sacked Paul Uppal, the Small Business Commissioner, over what it called a “conflict
Withdrawal of credit insurance exposes suppliers to greater risks
While it is true that running a business is always challenging the withdrawal of credit insurance is adding to the
Post-Christmas apocalypse for the retail sector?
As we head for its most crucial shopping period in the wake of Mothercare and Mamas & Papas collapsing into
Diversity of thought is about more than challenging stereotypes and ticking a box
Too often the word diversity as applied to directors of companies is seen as demonstrating representation by gender, ethnicity, religion,
Key Indicator: no respite for the global economy as conditions get worse
As we head towards the end of the year it is a good time to look at the current state
A rise in Administrations in Q3 indicates that many businesses are just about hanging on
The newly-published insolvency figures for Q3 (July to September) show a massive increase in the number of businesses entering Administrations.
Investors now putting environmental concerns first
The UK’s largest investors put environmental concerns and corporate governance issues as top of their lists when considering companies in
Directors of companies in financial difficulties should be aware of their pay and perks!
Executive pay and perks have been creeping up the agenda with politicians and the public increasingly questioning the rewards given
Is the death of Thomas Cook a sign of more to come in the travel industry?
Commentators have been quick to predict the death of the package holiday and in some cases of much of the
WeWork reminds us why we should not rely on charismatic leaders and the investment bank advisers who flatter them
This week the new management of WeWork the business space property rental company announced that it was preparing to axe 2,000,
‘Caveat Emptor’ Is peer to peer lending too risky for peers?
Peer to peer lending (P2P) enables individuals to obtain loans directly from other individuals, cutting out the financial institution as
Recession, imminent or not is it time to ban the word?
Recession is a word that has immense power, striking apprehension into the hearts of businesses, politicians and consumers alike. Talk
Sector update: have there been improvements in care home viability?
It hardly seems any time since I last assessed the viability of the UK’s care home sector, but in the
High Court CVA clarification for landlords
Recently in the High Court landlords challenged the validity of the CVA (Company Voluntary Arrangement) that was approved for the
The state of manufacturing in the UK and globally – October Key Indicator
This month’s Key Indicator looks at the state of manufacturing in the UK and globally and by all indications, it
Can SMEs afford to wait any longer for a business rates review?
Retailers have been calling for months for a business rates review as the decimation of the UK’s High Street continues.
What is AIM and is it beneficial to SMEs to apply for AIM listing?
It is coming up to 25 years since AIM (Alternative Investments Market), the London Stock Exchange’s junior stock market, was
Late payments situation getting worse for some SMEs
According to the ICAEW (Independent Chartered Accountants of England and Wales) late payments to SMEs are a bigger problem than
The cost to SMEs of IT failures
The pressure to do everything online is inexorable but what is the cost to businesses of IT failures? Perhaps one
Chaos and Confusion or Order and Clarity? Where are SMEs now with Brexit Planning?
Brexit planning will continue to dominate the thinking and expenditure of the UK’s SMEs as Parliament is suspended for five
Ongoing carnage in consumer services sector as consumers reduce spending in restaurants and bars
As I outlined in my June sector blog, it is not only well-known shops in the consumer services sector that
The change to HMRC preferential creditor status v emphasising insolvent business restructure
The Government’s proposal to restore HMRC preferential creditor status when a business becomes insolvent is, in my view, at odds
Key Indicator – a snapshot of the current state of commodity prices
Ongoing fears of a global economic recession, not to mention the escalating trade war between the USA and China, are
SMEs, start-ups and ethical fundraising
Fund raising can be a challenge for SMEs and start-ups but there are signs that many are turning to ethical
Is gender parity in business a utopian dream?
Rarely a week goes by when some aspect of gender parity often defined as equality is not in the headlines.
Post Brexit boom sectors – business opportunities
It is often said that there are winners and losers for every significant event, so which are the post Brexit
UK productivity – is it time to move to a four-day working week?
The UK’s comparatively low productivity and how to improve it has long been a source of debate and analysis. The
Work experience – between a rock and a hard place
Earlier this year the Federation of Small Businesses (FSB) called for compulsory work experience to be reintroduced for all children
The current state of the commercial property sector
With economic uncertainty prevailing both globally and in the UK it would be no surprise if the commercial property sector
Dream Big – Summer is time for considering a start-up
As many as half of all workers seriously consider setting up their own business during the summer holiday according to
The unpredictable relationship between currency values and stock markets – August Key Indicator
Too often the assumption is made that when a country’s currency value drops its stock markets will rise as its
Q2 insolvencies offer no sign of economic storms easing
There are no signs of the pressures on businesses easing off as insolvencies in the second quarter of 2019 (April to
Get independent advice before embarking on costly business litigation
It is a sad fact that disagreements can arise in the best-run businesses and if they cannot be settled amicably
Can fashion retail ever be made sustainable?
It is no secret that High Street retail has been in dire straits for some time, and clothing and fashion
Long term corporate survival can only be achieved by having the right values
There are signs that the Gordon Gekko culture of “greed is good” is dying and that corporate survival will depend
What are the prospects for UK manufacturing?
UK manufacturing output growth held steady in the three months to May, according to the Confederation for British Industry’s (CBI)
Proposed HMRC preferential status a blow to financing and restructuring
The Government last week published its new draft Finance Bill, which includes the proposal to restore HMRC preferential status as
Proposal to strengthen sanctions for late payments culprits
Some 18 months since the appointment of Small Business Commissioner Paul Uppal to tackle the problem of late payments to
The UK Film Industry – sector focus for July
It’s good to write about a UK business success story, the UK film industry, which has become an important economic
How much can businesses realistically plan for no-deal Brexit?
Clearly businesses are operating in very uncertain economic times with no-deal Brexit having become a game of political football and
Redefining measures of national economic health – July Key Indicator
For almost 40 years the defining measure of a country’s national economic health has been GDP (Gross Domestic Product). As
June macroeconomic snapshot of UK regional economic inequality
We hear a lot about UK regional economic inequality, so as part of our series of macroeconomic snapshots we’re taking
SME owners need to pay more attention to their own mental and physical health
There is plenty of evidence that owning and running a SME leaves little spare time to pay attention to their
Why are businesses not taking advantage of the new apprenticeship scheme?
The Government’s new Apprenticeship Levy scheme introduced two years ago set an ambitious target of creating 3 million new apprenticeships
Is an Employee Ownership Trust the way forward to show your workers they are valued?
In May this year Julian Richer gave his employees shares in the company through an Employee Ownership Trust (EOT) whereby
June sector focus on the restaurant trade and changing eating habits
The restaurant trade is notoriously volatile at the best of times but the last two years have seen it undergoing
Evidence mounting that SMEs are more attractive to millennials
There has been a growing body of evidence and research over the last couple of years that millennials prefer working
What is the future for company audits?
In principle, company audits must be carried out on any public body, FCA regulated business and most companies unless they
Key Indicator – investment decisions in a mature business cycle
A mature business cycle is one where the prevailing conditions are such that any economic slack is largely used up
VOIP a phone solution for growing SMEs
As a SME develops and grows costs can quickly escalate, no more so than its phone and communication systems and
Why advice to aspiring women leaders may have been all wrong
The numbers of women leaders are not rising despite the growing calls to eliminate gender discrimination in the workplace. There
What should be on the SME wish list from the new Bank of England governor?
The search has begun for a replacement for Mark Carney, Bank of England (BoE) governor, who is due to leave
Are Internet unicorns another bubble destined to burst?
Reminiscent of the hubris leading up to the 2000 dot com crash, the start of this year there has seen
Business opportunities for SMEs in the growing demand for sustainability and cutting waste
The neoliberal economic model based on perpetual growth has come under increasing attack from environmental campaigners particularly since the week-long
Price and environmental pressures in the cargo shipping sector – stormy waters ahead?
In early April a national newspaper published a report on the captain and crew of a cargo ship who had
Two examples that justify agility when pursuing a retail turnaround
This blog contrasts the fortunes of Majestic Wines with those of Debenhams as arguably examples that show how retail business
May 2019 Key Indicator – is there still a direct link between rising Brent crude oil prices and inflation?
The Bank of England (BoE) governor, Mark Carney, has recently warned of growing inflationary pressures and potential interest rate rises
UK business insolvencies and distress indicators continue to rise
An alarming number of businesses are in either significant or critical financial distress, according to the latest Begbies Traynor Red
Why the current model of free market capitalism is failing SMEs
In the late 1970s the then UK Prime Minister Margaret Thatcher and US President Ronald Reagan both espoused the idea of
Does the Government understand UK SMEs’ problems?
A recent fiery opinion piece in the London Evening Standard by Rohan Silva accused the Government of failing to help
UK economy macroeconomic update at the end of March 2019
Amidst the tedious ongoing, protracted and now further extended Brexit process, predicting where next for the UK economy is akin
Failing to recognise the equal value of women to the economy is short-sighted
It is dispiriting in the 21st Century that investors and businesses are still not recognising the equal value of women
What kinds of jobs will be taken over by automation?
In late March, the ONS (Office for National Statistics) published its latest findings on the effects of automation on the
First two companies named and shamed over late payment
In March the first company to be named and shamed by the Small Business Commissioner Paul Uppal over late payment
April 2019 sector focus on the UK road haulage industry
As negotiations for the UK to leave the EU hopefully draw nearer to some kind of resolution it seems an
GDPR one year on – how well is it working?
It is almost a year since the new EU-wide GDPR (General Data Protection Regulations) legislation was introduced and so far
April 2019 Key Indicator – the state of the EU economy
Leaving aside its obvious concerns about its future relationship with the UK, the EU economy has more than enough troubles
Is HMRC buckling under the strain of too hasty IT and insufficient staff?
Does anyone love the taxman? HMRC is an easy target when it gets things wrong and equally when it seems
UK business rescue culture isn’t working and new proposals won’t work
Since the Cork Report in 1982 that led to the Insolvency Act 1986 (IA86) there have been a number of
Flexible working can foster innovation and creativity
A set of annual awards launched seven years ago is demonstrating the positive benefits of allowing employees to work flexible
Can zombie and critically distressed businesses be resurrected from near-death?
More than one in ten (11%) UK businesses is a zombie business at the start of 2019, according to the
The tide may be turning to improve workers’ rights
In December Christina Blacklaws, the president of the Law Society, warned in a letter to the Financial Times that employment
March sector focus on UK food production, imports and exports
Tea, the UK’s favourite beverage, could become a luxury if analysis by HSBC of a no-deal Brexit is to be
Are we nearing a Minsky moment foretelling the next economic crash?
Hyman Minsky died in relative obscurity in 1996 but economists have adopted his name as a description of particular moments
March Key Indicator – Investment in the UK
Investment is a tricky term to unravel largely because the investment objectives are key to any decision and predicting the
Monthly global outlook – the Bears are gathering for a global economic slowdown but will it be a crash?
While the “B” word is the focus of attention in UK and cited as the cause of low productivity and
How to make failure your first step towards business success
None of us is perfect. Perhaps that is why we admire so-called successful people so much. But behind almost every
Is outsourcing a blessing or a curse for SMEs?
According to the GMB union the Government’s use of outsourcing has increased since the collapse into insolvency of the firm
Are your staff loyal? Retaining valuable staff depends on how you treat them!
In a mature economy with an ageing population and amid rapidly-changing technology, businesses are finding it increasingly difficult to find
How can SMEs manage credit control and late payment effectively?
There is no doubt that getting invoices paid on time can make a significant difference to SMEs’ cash flow and
Is your business barely managing and if so why?
Evidence suggests that many UK businesses are barely managing when compared to foreign-owned businesses of equivalent size operating in the
What’s ahead for the retail sector in 2019? – February sector focus
It has been obvious for some time that the High Street is undergoing massive changes as online shopping gains a
The state of UK exporting – our February 2019 monthly Key Indicator
The health, or otherwise, of UK exporting is perhaps an obvious focus for my monthly Key Indicator as the deadline
Sharp rise in personal insolvencies in 2018 – what might it mean for your SME?
Clearly many individuals are finding it hard to cope with rising prices, low wages and ongoing austerity given the latest
Are we facing recession in 2019 and is it time to redefine growth?
There is no doubt that uncertainty and pessimism are dominating predictions for both global and national economies at the start
Our monthly look at the global macroeconomic climate
It’s January so that means it’s time for the annual gathering of the “great and the good” at the World
How do businesses develop managers to become good leaders?
Ambitious people often aspire to becoming senior managers in their organisations and some achieve their goal, but how much thought
Have you reviewed your marketing strategy?
Conditions and circumstances in business constantly change so it is necessary to regularly review all your various activities and certainly
Climate change is an opportunity for SMEs
In December 2018 the world’s leading scientists warned that there were only 12 years to get climate change under control
January sector focus: Fintech
Fintech is used describe new technology that seeks to improve and automate the delivery and use of financial services. Originally
New Year, new start – a good time for some SME forward planning
The end of last year was a time that most businesses would prefer to forget given the continuing uncertainty after
January Key Indicator – exchange rates and their impact on SMEs
The exchange rate is the value of a country’s currency against those of others and the factors affecting this are
Politicians’ ignorance can have a negative impact on the global economy
As 2018 draws to a close it makes sense to look at macro-economic trends that might inform our view of
Season's Greetings
We wish all our clients, colleagues and friends a peaceful and happy Christmas and a prosperous and hopefully more peaceful
Productivity, working hours and health – time for a new approach?
Productivity, and how to improve it, is a perennial concern for the UK’s SME managers. The country’s woeful productivity when
No sign of improvement in shoddy banking services to SME customers
It has been a year of IT meltdowns, continued closures of small branches and ATMs throughout 2018 with the main
Is there a link between unethical personal behaviour and corporate behaviour?
Can and should investors expect the corporate behaviour of CEOs to be ethical if their behaviour in private is less
December Sector focus – are residential care homes viable businesses?
There have been question marks over the financial viability and sustainability of private residential care homes for the elderly since
December key indicator – the UK economy at the end of 2018
As the end of the year approaches, this month’s Key Indicator looks at the state of the UK economy. Assessing
How can the causes of investment failure be minimised?
Perhaps the most high-profile business collapse of the year has been the construction giant Carillion, reinforcing the message that no
How much longer before SMEs get a fair system for dispute resolution with the Banks?
It looks likely that SMEs still have some time to wait before a cost effective and fair system for dispute
Why the big four auditors are under intense scrutiny – an update
Following the collapse of the company Carillion in February this year the role of its auditors came under the spotlight
Brexit, SME confidence and contingency planning
Considering that SME confidence has been plummeting for some months now, last week’s crescendo of Brexit mayhem following the announcement
Corporate boardrooms – a hostile environment for female executives?
Despite the depressing picture of a decline in the number of women holding senior executive positions in FTSE companies, there
Why is this Tory Government intent on destroying SMEs?
At the October 2018 Tory party conference, the Prime Minister reiterated her support for businesses, calling them “the wealth creators,
Is fear for the future the explanation for a rising numbers of insolvencies?
The increased number of insolvencies, largely due to CVLs (Creditors Voluntary Liquidations) between July and September this year is a
Is Buy-to-Let property still a good investment?
The Buy-to-Let residential property sector is the focus of this month’s sector blog. For several months now, the rate of
November 2018 Key Indicator – investment and asset classes
In such a febrile market it takes nerves to make investment decisions about which asset class to follow when there
Autumn 2018 Budget offered some cheer for SMEs and the High Street
There were few surprises in yesterday’s budget given that much of it had been leaked in advance although it did
What are the benefits to SMEs of collaboration with corporates?
The 2018 Global CEO Outlook by KPMG found that 70% of the 150 UK CEOs involved were in favour of
Is the insolvency of your business a failure?
Like old buildings that are decaying or no longer fit for use, businesses often need to be pulled down and
Beware of withholding payments to push contractors into insolvency as a way of saving money
In June 2018 a court awarded a contractor substantial settlements after it challenged the behaviour of a large customer that
Should SMEs consider appointing non-executive directors (NEDs)?
It is hard for SME directors to step back and look at the bigger picture when they are so immersed
Will branchless Challenger banks struggle to recruit customers given the concerns about banking technology?
The failure of banking technology has become a wearyingly familiar story with problems this year causing chaos for customers of
Fine words are not enough to enforce the Prompt Payment Code
Last week saw two announcements on the ongoing issue of late payments by large companies to SMEs, both described as
October sector focus – on UK ports
It is obvious that an island nation with a lengthy coastline is likely to have a large number of ports
October key indicator – has global trade peaked?
In a report in November 2017 the WEF (World Economic Forum) analysed the future prospects for global trade suggesting that
Toothless regulators and unrepentant 'too-big-to-fail' banks
It has to be said that since the 2007/8 Financial Crisis from which several of the “too-big-to-fail” banks had to
Update on the business rates and appeals fiasco
In August it was announced that HMRC had sent in approximately 25 staff to the Valuation Office to fix the
The fourth Industrial Revolution will need a fundamental change in business thinking
A day after my last blog, on skills shortages and Brexit, the Migration Advisory Committee published its analysis on migrant
Skills shortages and recruitment problems for SMEs amid ongoing Brexit uncertainty
I try to avoid the dreaded “B” word in my blogs but on this occasion, I can’t avoid it as
Predatory investors behaving like unscrupulous bankers
Ten years after the lending culture that resulted in the 2008 Great Depression it seems that the behaviour of some
The current state of the UK commercial property sector
The UK’s commercial property sector covers everything from retail units to warehousing, office blocks to industrial units and it is
September Key Indicator – energy and fuel costs
While the biggest overheads for industrial and manufacturing businesses are generally staff, equipment and premises costs, energy and fuel costs
I welcome new insolvency proposals – albeit with a few observations
The Government has at last published its proposals for changes to the insolvency regime after launching a consultation in March
Use the Fraud Triangle to understand Business Fraud
Business fraud can do massive damage to a SME, not only financially but also to its reputation. It can be
HMRC aggression and heavy handed use of powers
There is no doubt that the Government is putting pressure on HMRC (HM Revenue and Customs) to improve its tax
Why do so many CVAs fail?
My blog earlier in the year (17 May) asked whether the use of CVAs was “a triumph of hope over
Could proposed new rules on foreign investment in UK damage SME prospects?
The Government recently proposed expanding its powers to review and intervene on foreign investment in UK businesses. Under the proposals,
Travel and Tourism: a key UK economic sector, but potentially volatile
As with any consumer-dependent sector of the economy, travel and tourism is susceptible to changing trends in consumer behaviour, to
The new Corporate Governance Code offers lessons for SMEs
The mission of the FRC (Financial Reporting Council) is stated as being “to promote transparency and integrity in business”, a
After TSB is HSBC the next bank with an IT problem?
A recent experience with one of my many long-standing bank accounts with HSBC leads me to question, yet again, how
SMEs, cash flow forecasting and resilience
The CEO of a business finance provider, Richard Pepler, of Optimum Finance Ltd was recently reported by the publication Business
August 2018 Key Indicator: is consumer spending undergoing a massive change?
The UK economy is generally described as a consumer economy. This means that its health is significantly dependent on and
Insolvencies: business failures slowing but individual insolvencies climbing
I generally concentrate on the quarterly insolvency statistics for businesses since my blogs are designed to help SMEs. However, there
Leaders: Can you imagine turning off your phone when on holiday?
It is well-known that a third of SME business owners take fewer than 10 days off per year and on
Apply the insights from business anthropology to your company
Having introduced business anthropology in a blog last month, now is a good time to start applying what you have
Why whistleblowers can be a force for good in your business
Many people are afraid to speak out when they discover wrongdoing or questionable behaviour in their workplaces for fear of
How do you resolve a boardroom conflict?
It is not unusual when I am called in to advise a SME in distress on restructuring its business that
Zero hours contracts and self-employed workers revisited
Businesses have been quick to recognise the benefits of using zero hours and self-employed workers as a means of reducing
Brexit uncertainty has gone on too long for UK SMEs
In the days running up to last Friday’s cabinet meeting at Chequers many of the UK’s largest businesses were warning
Are SMEs really unaware of asset finance or are they simply not borrowing?
Last year the website smallbusiness.co.uk, published research findings that seemed to indicate that many SMEs were unaware of the benefits
July Key Indicator: this month we investigate the future of Retail
Few people can be unaware that the future of retail on the High Street has been in peril for some
Late payment regulations need beefing up
In April this year I reported on the scepticism with which SMEs had greeted the appointment of a Small Business
What is business anthropology and how useful is it?
Anthropology is the study of humans and human behaviour and societies in the past and present and business anthropology applies
Are we being naïve about the powers of technology?
There is no doubt that using various IT systems offers scope for huge time savings and efficiencies but at what
The pros and cons of setting up business in the countryside
There are undoubtedly challenges to setting up business in the countryside but in this blog, I will argue that there
The pros and cons of team building activities for SMEs
There is considerable disagreement about the effectiveness of company team building activities, especially those that involve away-days for things like
How should SMEs approach their marketing post-GDPR?
Many SMEs issued emails to the contacts on their lists asking them whether they still wished to receive their marketing
HMRC consulting on closing another tax avoidance loophole
The drive to maximise tax revenue continues with another consultation document of very limited duration. Launched in April with consultations
K2 Key Indicator: is the UK construction industry in terminal decline?
There is no doubt that the UK’s construction industry is facing a number of pressures including a lack of funding,
SMEs demand fair treatment from their High Street Banks
Ever since the eruption of the 2008 Financial Crisis there has been a seemingly never-ending series of revelations about the
SMEs need help to navigate the business rates system
Retailers are the most high-profile sector of SMEs that are struggling with business rates and the appeals system following the
SME tendering opportunities amid the doom and gloom
It can seem, amid the uncertainty over the future of UK business as the shape of Brexit remains shrouded in
Is the UK freight infrastructure fit for the future?
It is fair to say that the UK’s economic future as a trading nation post-Brexit will depend heavily on the
Retail CVAs – are they a triumph of hope over reality?
Mothercare has reported today that it is “in a perilous financial position”. It seems that rarely a week goes by
HMRC looking to prevent directors from using insolvency to game the system and avoid paying tax
There are clear signs that HMRC is ramping up its efforts to improve its tax collection rates. Among several initiatives,
Is the rise of the Sharing Economy an opportunity for SMEs?
From renting a city-centre bicycle, a place to stay overnight to a taxi ride, there are plenty of examples of
How should SMEs adapt their Social Media marketing after the recent data scandal?
The harvesting by Cambridge Analytica (CA) of the personal details of an estimated 87 million Facebook users is rightly being
SMEs – don’t let the looming GDPR deadline distract you from cyber security
With the May 25 deadline looming for businesses to comply with the new General Data Protection Regulations (GDPR) it is
Do the Q1 insolvency figures suggest Brexit chickens coming home to roost?
Yet again, as in the last quarter of 2017, construction and retail were the top two sectors in the insolvency
Managers, what effects do your stress levels have on your team?
Stress is an inescapable part of life and work, and it is well recognised that the effects of stress can
How can UK manufacturers plan ahead given the current pre-Brexit uncertainty?
It has become fashionable in some quarters to downplay the importance of the UK’s manufacturing sector to our economy. Yet
How crucial is SME growth to the UK economy post-Brexit?
SMEs are often described as the backbone of the UK’s economy and it has been said that their future success
Are creditors and their lawyers using Winding-Up Petitions for debt collection?
I have written previously about short term thinking by businesses and the effect it has been having on their ability
Can SMEs have confidence in the Government’s new Small Business Commissioner?
In December 2017 the UK Government appointed a Small Business Commissioner with the remit of supporting SMEs struggling with late
What are the accounting options for SMEs?
I have talked previously about the importance of having up to date and regular Management Accounts where there are fundamentally
The High Value Dealer and the new Money Laundering Regulations 2017
Money laundering is the process of making illegally-gained proceeds (i.e., “dirty money”) appear legal (i.e., “clean”). The first step in
Are you undermining your business by ignoring equal pay?
Despite years of campaigning and even legislation it seems that many businesses are still ignoring the rights of women to
Should SMEs maintain a fall-back list of suppliers?
The recent problems that beset KFC when it switched suppliers raises the question of how vulnerable SMEs are when a
The pros and cons of Brexit for British farming
While Britain is not self-sufficient in food, 60% of the country’s food supplies does come from British farms. In terms
An interesting insight into the psychology of accepting too much work
I have warned in previous blogs about the dangers of over-trading and the effects it can have on an otherwise
What is a company audit and why is it important?
Following the collapse of Carillion in January this year with over £900 million of debts, a £590 million pension fund
Short termism still dominates shareholder and investor behaviour
Those who follow my blogs will know that I have criticised investors and shareholders for the short termism that has
The relationship between banks and SMEs would appear to have fundamentally changed
Perceptions are hard to shift once they take root and the SME perception of mainstream banks’ willingness to lend to
Could Australia’s new insolvency legislation, SafeHarbour, be a model for the UK?
According to research published in October 2010 comparing procedures in the UK, The Netherlands, Germany and Italy for restructuring insolvent
Why do you need regular Management Accounts?
When setting out on a car journey you need a destination, map, and ought to check the traffic and weather
How to protect your business reputation in a crisis
Few high-profile businesses will avoid encountering a problem that exposes them to scrutiny. How that business and more pertinently its
Why Stakeholders’ co-operation is vital to successful business restructuring
Restructuring a business can involve significant changes that can have an impact on all its stakeholders. Usually, restructuring is associated
How do we fix the UK’s IT skills shortage?
The shortage of people in the UK with IT skills is hardly news. For several years now, the sector has
Are managers redundant?
All four of the UK’s big superstore chains, Sainsbury, Tesco, Morrisons and Asda, have announced plans to make significant changes
Conflict of interests for insolvency practitioners doing restructuring & turnaround work
When a business is either in financial difficulty or heading that way, I would always advise getting expert help and
What are the main ingredients to include in monthly Management Accounts?
Regularly reviewing your Management Accounts is one of the most helpful ways for you to monitor the performance of your
Businesses should not withdraw employee rights after Brexit
As negotiations between the EU and UK on Brexit resume this week, yet another business organisation, The British Chambers of
Are businesses waking up to the positive benefits of early restructuring?
Are businesses waking up to the positive benefits of early restructuring? In the weeks since the collapse of the facilities
A timely reminder to understand Directors’ Duties in insolvency
The collapse of Carillion into liquidation with total liabilities estimated as likely to be in excess of £5 billion
Insolvencies rise in 2017 marking a difficult year for business
The highest numbers of insolvencies throughout 2017 occurred in the construction and retail sectors according to the lnsolvency Service’s latest
The latest Making Tax Digital updates for SMEs
In the distant past tax was simple, it was collected by collectors and stored somewhere safe like in the Treasury
SME directors should be careful when lenders ask for personal guarantees
Obtaining business finance from mainstream lenders, such as banks, has been a problem for SMEs for a number of years,
The skills shortage and Brexit – can AI fill the gaps?
Almost two thirds of businesses in the Engineering and Technical sector say that recruiting staff with the right skills will
SMEs are you ready for GDPR?
Only one in four SMEs have started preparing for the GDPR, the new EU wide data protection rules that will
Business review complete? Time to review the marketing plan
The next phase of the annual business review and subsequent decisions about plans for the coming year is to review
Productivity in an unsettled economy
Productivity in both national economies and individual businesses is much scrutinised by governments, business commentators and business owners as an
The outlook for SMEs in 2018
As ever at this time of year, businesses are considering what the future holds for them in the coming year.
Annual review of your business and setting of growth plans?
The festive break allows time for you to reflect on your business and review its performance over the previous year.
Wishing you all a happy and peaceful Christmas
Enjoy your Christmas – time to relax, reflect and recharge for the New Year
Lenders are jeopardising businesses with their short-term thinking
It is often argued that banks’ and lenders’ impatience gets in the way of attempts to restructure and turn around
What are the qualities and role of a leader in times of business crisis?
It is a rare business that will never face a crisis and it is estimated on average this is likely
SMEs – don’t make a difficult situation worse by ignoring HMRC letters
When SME owners know they are having cash flow problems and will not be able to pay VAT, PAYE, corporation
The basics of Time to Pay for businesses struggling to pay their taxes
Time to Pay (TTP) is a scheme run by HM Revenue and Customs (HMRC) to help businesses struggling to pay
The emphasis in turnaround should be on saving a struggling SME
It is surely preferable to try to turn around and restructure a business than allow it to fail, with the
How often should SMEs review business contracts?
In times of economic uncertainty, a careful business will regularly scrutinise its cash flow to ensure there are no hidden
What is the purpose of a staff appraisal?
For many businesses the usually-annual staff appraisal is seen as an opportunity for managers to review an employee’s performance, provide feedback on
Buy or rent? How can SMEs avoid some hidden pitfalls?
The words: “If it appreciates, buy it, if it depreciates, lease it” are generally attributed to John Paul Getty, the
SMEs, as well as bigger companies, should pay attention to reputation management
In the last few months at least two high profile, large companies have been having a torrid time thanks to
Why should SMEs have a staff handbook?
It is important for employees, and management, to know exactly what is expected of them by way of appropriate behaviour,
Could there be a retail “bricks and mortar” fightback?
The inexorable growth in shopping online continues to put pressure on “bricks and mortar” retailers as is illustrated by the
Short term thinking in business amid Brexit uncertainty
It seems that hardly a day goes by without a new and negative headline about the UK’s decision to leave
How not to do email marketing
Trying to catch people’s attention is not easy when their email inbox is flooded with emails they feel they have
Insolvencies – the signs are not good for struggling SMEs
More businesses have been declared insolvent during July to September, according to the latest statistics released by the Insolvency Service
Can SMEs afford to use invoice discounting and factoring?
Both invoice discounting and factoring are a means by which a business can borrow against the value of its invoices
The pros and cons of bitcoins for SMEs
Remarks by Jamie Dimon, chairman and CE of JP Morgan Chase, earlier this month disparaging the bitcoin virtual currencies as
Don’t discount the awkward people in your business
Social misfit, loner or nerd. These are all words that are often used to describe awkward people. In this context
Older employees – a valuable resource to retain and retrain?
Skills shortages in the UK have been an issue for some years and to an extent the gaps have been
How should a business in difficulty choose a turnaround or insolvency adviser?
All too often directors can feel overwhelmed by the problems they have to confront when their business is in difficulties.
What is the difference between a CVA and a CVL?
A CVA, a Company Voluntary Arrangement, is a binding agreement between a company and those to whom it owes money
How will struggling businesses cope with an interest rate rise?
According to the latest research into struggling businesses 79,000 UK businesses (4%) say they would be unable to repay their
Should SMEs use traditional marketing?
The benefits of using online marketing through social media, blogs, websites and the rest have been well-covered in other blogs.
The importance of strategic focus to business success
In an age of multiple distractions, it is more than ever important for business leaders to have a strategic focus
Detecting and combating business fraud
Any business without robust systems can be vulnerable to fraud, either perpetrated by third-party criminals, suppliers, clients or even internally, by
Why do so many in the construction industry get into difficulty?
We have been experiencing a rash of main and sub-contractors in the construction industry coming to us for advice because
Does your business have robust cyber security?
Ransomware attacks are a lucrative market that have netted cyber thieves an estimated £19 million in the last two years,
Many SMES will benefit from the delayed timetable changes to Making Tax Digital
Proposed changes to the roll-out of the UK Government’s plans for businesses to keep digital records and report quarterly online
The main elements of director duties
Being a company director carries with it many responsibilities, some laid down by the company’s articles of association, others requiring
HMRC is dialling up the pressure to collect overdue tax
Many of our new clients are contacting us after a visit from HMRC (HM Revenue and Customs) who are becoming
New regulations – improving or gold-plating Fintech compliance?
From January 2018, new rules and regulations are being introduced covering businesses that provide services to clients linked to ‘financial instruments’
Fintech for SMEs
Fintech is a topic much discussed in business publications, often in hyperbolic terms, but very few can define it precisely.
Business failure can be a self-fulfilling prophecy
It is often also a predictable inevitability. The financial website Investopedia defines irrational exuberance as unsustainable investor enthusiasm that drives
What kinds of unreasonable demands should prompt SMEs to decline contracts?
The natural inclination of most SMEs is likely to be to accept almost all new orders from clients and customers,
Does your SME need a Company Secretary?
While a public company is legally required to have a Company Secretary, since April 2008, private Limited Companies are not.
The costs to a business of dispute resolution
In an ideal world, most SME business owners would like to think that their business is so efficient and well-run
ECB calls for more precision in EU-wide insolvency harmonisation
The ECB (European Central Bank) has published its opinions on the EC’s new directive aimed at harmonising practice in dealing
Time to review outsourced services?
It can be a false economy for SMEs to try to manage all aspects of their business in-house. However, it
Is your accountant an information processor or an information interpreter?
The right accountant can be a very valuable resource for the SME, but their real value depends on the services
SMEs have the agility to win customers where big businesses fail
The latest quarterly analysis of consumer complaints from Ofcom, the telecoms regulator, has BT at the top of the list
An uncertain future for the new and used car sectors?
From time to time K2 looks at the health and performance of specific sectors of the UK economy and this
Leaders with self-awareness are more effective
Analyses of the characteristics of a good business leader have tended to focus on qualities like toughness, determination, intelligence and
The importance of a business review
At the very least a business review should be carried out once a year although sometimes it should be done
Future business strategy – be as bold as you like
July and August can be a time for reflection and for mulling over the future business strategy ready for testing,
The business summer party – a social occasion with a purpose
Business activity can slow down in the run-up to the summer holiday season, which makes it a good time to
Big data, statistics and decision-making
Businesses should always be aware that statistics can be manipulated and that analysis of so-called big data sets is a
Businesses should beware of knee-jerk reactions
Being agile and responsive may be good business practice, but there is a fine line between this and knee-jerk reactions.
SMEs should register an interest in big local infrastructure projects
Local businesses often complain that they are ignored as suppliers when big local infrastructure projects are in the pipeline, and
Investing in a struggling business – is it ever worthwhile?
While many people are attracted by the low cost of buying a struggling business where they believe they can do
Experiences, not “stuff” – the High Street is not dead
The death of the High Street as simply a shopping destination has long been predicted, first due to the rise
Proof that, taught properly, cold calling really is child’s play!
Very few of us actually like cold calling. The idea of phoning a total stranger can strike fear and dread
Employee training and development benefits business
Business leaders are not the only people in an organisation who should pay attention to increasing their knowledge and expertise.
Why would a business leader need a business mentor or a consultant ?
Successful businesses need leaders who can make decisions. Input from others makes it easier to make the right decisions first
Uncertainty and change may be a feature of the business future for a while
In so-called “normal” times no business can afford to stand still and hope to survive. In the current economic climate
The post-election Government must start listening to business
As if the post-EU referendum uncertainty wasn’t enough, businesses now must contend with a Government that is far less “strong
A leader’s lack of confidence can inhibit business growth
We recently explored the toxic effects on a business that can result where people in influential positions exhibit one or
How will SMEs finance their future growth plans?
It has been estimated that UK SMEs account for more than half of employment and national income, so their importance
We can learn a lot from China’s global business strategy
The business world has become a very uncertain place since UK voted to leave the EU, the election of Donald
Machiavellianism – the most toxic of the three threats to a business?
“It is better to be feared than loved, if you cannot be both.” So said the Italian Renaissance diplomat Niccolò
The corporate psychopath poses real dangers to a business
Michael Douglas’ Gordon Gekko, Leonardo Di Caprio’s Wolf of Wall Street, or the late Mirror Group owner Robert Maxwell –
Narcissists and their negative behaviours at work
There is a trio of negative behaviours that psychologists call the “Dark Triad”. They are characterised as psychopathy (being callous
The Pitfalls of Overtrading
A business that is overtrading is one that is at risk of becoming insolvent. Overtrading is when a company is
Estate agency business model – High Street or Virtual?
The UK’s domestic property sales have traditionally relied on the services of an estate agency. Any consumer-reliant business is susceptible
The FCA dilemma over consumer credit
Since April 2014, when it took over regulation of consumer credit, the UK’s Financial Conduct Authority (FCA) has been investigating
Could co-opetition be the answer to distressed supply chain business?
Earlier this month we reported on significant increases in levels of distress in the consumer supply chain business sector. This
Observing business etiquette in other countries increases chances of successful deals
UK businesses are likely to need to expand their export horizons in the coming years so it makes sense to
The latest insolvency figures reveal a worrying trend for some businesses sectors
SMEs in the supply chain sectors that particularly rely on consumer spending should pay heed to the latest insolvency figures,
Don't ignore grammar and spelling in business communication
Post anything on the subject of grammar and spelling on social media, especially relating to business, and it is guaranteed
Updating the Data Protection Act 1998
Data on people is highly valuable and used by organisations for a variety of legitimate purposes, not least for targeting
PSD2 imposes new legislation on Payments Service Providers
The Second Payment Services Directive (PSD2) is due to become UK law on 13th January 2018 and it imposes huge
Is another tech bubble looming?
Recently, I heard Sam Altman, president of the start-up incubator Y Combinator, who had come over to the UK from
Pre-Exit Planning – A Summary Guide for Family Company Shareholders
Many thanks to John Buxton, of Kingsworth Associates in London, for this excellent, comprehensive contribution. Family business owners are often
Being honest with yourself and the power of saying “no”
Far too many SMEs are not explicit about what their business does and make it harder for themselves when selling.
Why business owners should have an exit strategy from the start
It is the last thing a business owner is likely to think about at the start or in the early
Collaboration – even with competitors – can be good for business
Collaboration is about maximising power. It can bring real benefits to SMEs to work with other businesses, even when those
Restructuring is not a dirty word
There is a saying: “If you always do what you’ve always done, you will always get what you’ve always got”
Are apprenticeships affordable for SMEs?
At the start of 2016 the Federation of Small Businesses (FSB) calculated that of the 5.5 million businesses in the
Can care homes be viable businesses?
The provision of residential care for the elderly when they are no longer able to live independently is understandably an
In a digital world how useful are business conferences?
In today’s global economy it is possible to use digital technology to share information or for face-to-face conversations with colleagues
Post truth, fake news and business integrity
Convincing potential customers and clients that your business is both trustworthy and ethical, delivering what they want, and what you
Why do the self-employed in SMEs earn less than their employed counterparts?
One of the main reasons why there was so much opposition to the proposal in last week’s Spring Budget to
Budget aftermath: will 2017 become a perfect retail storm?
The growth of online retail and the rise of the “budget” food stores, like Aldi and Lidl, have been pressures
Will the business wish list for tomorrow’s Spring Budget be fulfilled?
There will be two budgets this year, one tomorrow and a second in the Autumn, after which there will only
Patience is wearing thin as business starts to confront reality
Business activity has effectively been just ticking over with investment at a low ebb since the outcome of the June
Is debt your master or your slave?
Since the 2008 Great Financial Crash, and perhaps even before, we have had a peculiar attitude to debt.Most of the
Is Creative Destruction being stifled by risk aversion?
In his 1942 work, Capitalism, Socialism and Democracy, the economist Joseph Schumpeter introduced the idea of Creative Destruction as an essential
BCC Annual Conference 2017 to ponder the future for UK business
The pre-Brexit challenges facing UK SMEs, which predominantly focused on uncertainty about their future, have been compounded by further uncertainty
Disaster recovery – does your SME have a business continuity plan?
Very often when a small business is bidding for new business with a larger client it will be faced with
What are the threats to UK farming in a post-Brexit world?
The UK farming industry uses 70% of the land in the UK and its efforts make the country 76% self-sufficient
Corporate Social Responsibility can boost your business
There are numerous definitions of Corporate Social Responsibility (CSR) and increasingly it is something that businesses from SMEs to large
There are still more questions than answers on Brexit for UK SMEs
The Supreme Court ruling against the Government that meant Parliament had to be allowed to vote on both triggering the
What next for business insolvencies in 2017
Company insolvencies for the whole of 2016 rose slightly, subject to a caveat from the Insolvency Service. The latest results,
Are CEOs worth their pay?
Rising inequality and increasingly insecure employment in the 21stCentury has focused attention on what has come to be seen as
Why is HS2 important to UK freight transport infrastructure?
As legislation reaches the final hurdles for the new rail line HS2 to be approved we look more closely at
How long will it take to achieve a properly skilled UK workforce?
The UK’s skills shortages in key sectors like engineering, construction and technology are well known and becoming more pressing in
Employee productivity and how it is changing
The standard definition of productivity for a business is “A measure of the efficiency of a person, machine, factory, system,
SMEs – don’t be caught out by April’s Road Tax changes
The Treasury is looking for ways to significantly increase taxes and one recent initiative was to change the duty on
Where next for High Street retail?
As the figures for pre-Christmas trading are appearing a clear divide is emerging in performance between non-food and food sales
Corporate Governance review needs your responses
It has received very little publicity but in November 2016 the Government published a green paper outlining proposals for a
Regularly reviewing and refreshing your business website
A business’ website is arguably one of its most important marketing tools for several reasons: most importantly, to reassure potential
Can forecasting help SMEs prepare for the future in uncertain economic times?
Our regular followers will know that we generally advise business owners to revisit and revise their plans and forecasts over
Economic pressure is building for a storm in the coming years
It is a brave, or foolhardy, man or woman who would try to predict what will happen to the economy
Choosing to do business in $dollars, instead of £Sterling
While there is uncertainty and volatility in currency exchange rates, as has been the case since June 2016 and the
What is the purpose of a company?
Something to reflect on over the festive period is a debate we have been hearing more and more about recently,
Resetting the marketing budget for 2017
Given the challenges many SMEs are likely to face in the coming year, the quiet period between Christmas and New
A look at the UK construction industry at the end of 2016
In December 2015 KPMG was forecasting a “positive outlook” for the construction Industry for 2016, when Richard Threlfall, KPMG Head
2016 review – an uneasy year for businesses
It seems like a very long time since the then Chancellor, George Osborne, warned in January 2016 of a dangerous
Is there a UK shortage of heating and building maintenance engineers?
Trying to book a good heating engineer when the domestic heating system goes wrong is a challenge and invariably involves
UK Business winners and losers – is uncertainty to be the new normal?
The numbers of cranes on a city’s skyline are often taken as an indication of the health and vibrancy of
It’s good business sense to show employees you care
Interestingly, despite the increase in businesses using models that rely on workers’ self-employment or zero hours contracts, we at K2
UK's proposals for restructuring businesses spread to EU
In July this year we reported on proposals by the UK’s Insolvency Service for new legislation that would stimulate earlier
A cautious budget from a cautious Chancellor in a dire economic situation
There were no major fireworks in Chancellor Philip Hammond’s Autumn Statement given the true state of the post-Brexit referendum economy
SMEs: financial caution, fragility and risk in an uncertain world
SMEs in the UK are being super-cautious about finance according to new research on SME resilience carried out by the
Van delivery businesses operate on very slender margins
Courier and other delivery services that operate using vans do not need one of the three main types of operators’
Business insurance – are you properly covered?
There are many situations that can be covered by various types of business insurance, some compulsory, others advisable but how
Staff costs, efficiency and productivity
In this month, when our blog theme is about monitoring and measuring performance and putting appropriate systems in place, today’s
Keeping the costs of business legal services under control
Employing lawyers can be costly, but no business can operate safely without at least some basic and well-drafted legal documents.
Measures to take when social media marketing isn't working
Social media marketing campaigns should be aimed at engagement with a target market, whether interaction, reaction or a call to
Current post Brexit insolvency statistics are no guide to the future
The latest corporate insolvency statistics released by the Insolvency Service for Q3 (July to September) show 3,201 liquidations slightly increasing
Who are the winners from post EU Referendum £Sterling drop?
While the future of UK business remains uncertain following June’s EU referendum the resulting plunge in the value of £Sterling
Business premises – lease, licence or buy?
Which is more important for your business: security, stability or flexibility? This is an important question to answer when a
How is the Recruitment Industry faring post-Brexit?
This week’s employment figures published by the Office for National Statistics (ONS) showed that the unemployment rate held reasonably steady
Have you got the basics of your social media marketing right?
Social media marketing is an increasingly important element of business promotion and therefore should be on the list for review
Early exit from CVAs can work for the business and its creditors
A Company Voluntary Arrangement (CVA) is a mechanism for an insolvent business to continue trading by paying off its debts
How does the recent business rate revaluation affect you?
It has been a long time since business rates were last revalued, but finally the Government’s Valuation Office published draft
Factors to consider when setting prices
Back in early May we published a blog on the trade-off between quality, production cost and speed of delivery when
Preparing people for change in your business
Business survival and growth mean being prepared to change aspects of your business and sometimes change the business model including
What factors may affect your plans and any changes to your business model?
Throughout September our blogs have focused on the considerations and factors that should be taken into account in preparing strategies
Achieving a positive Brexit outcome will need realism and patience
If ever strategic planning for the longer term was needed, it is now as a consequence of the Brexit decision
The shipping industry crisis – is it simply a story of over-capacity?
There is little cheer for the shipping industry in the OECD’s latest Interim Economic Outlook published this week, predicting that
The latest on the Government’s Prompt Payment Code initiative
A legal duty for large businesses to report on their payment practices was included in the Small Business, Enterprise and
Directors and shareholders should focus on corporate systems not just the numbers
It will be some time before the former directors of retail giant Tesco appear in court following investigations that arose out
The costs of investing in staff
Replacing an employee who is leaving, or adding additional staff as a business grows can be a costly endeavour. This
App bubble 1 or Dot-com bubble 2 (Remember Dot-com bubble 1)?
In January 2016, approximately 5,000 new apps and games per day were listed for download, according to the most recent
Website law and best practice – does your website comply?
Businesses’ credibility can be affected by the smallest things, especially online, and among them is whether they comply with the
A sorry tale supports the case for proposed changes to insolvency regulation
We were recently involved in helping an insolvent construction company with their restructuring, which was necessary for them to survive.
Email marketing – getting it right
Email marketing, that is communicating to potential clients/customers using regular e-newsletters, is one of the oldest-established methods of online marketing.
Quarterly digital tax returns – watch this space!
Quarterly digital tax returns – watch this space! The then Chancellor, George Osborne, announced in the March 2015 budget a
How do you inspire employee loyalty to your business?
Far too many businesses rely on money to incentivise and reward employees, assuming they are motivated primarily by money. However,
Insolvencies continued to fall in the three months up to the EU referendum
Perhaps because of the feverish media coverage before and after the UK EU referendum vote, there has been little if
Have you ever considered a payment card based on gold?
Continuing our series of blogs about new business ideas for business people to ponder during the summer holiday break we
Why do so many SMEs fall short when taking on new employees?
In the next in our series of August business ideas to ponder at leisure we’re looking at recruitment, induction and
Blockchain – innovative technology that could cut business costs dramatically
The holiday month is a time to ease back, refresh and perhaps explore new ways of doing business and this
Brexit musings
The first Markit/PMI (Purchase Managers Index) post-referendum composite results have now been published, showing a downturn in both business confidence
Uncertainty after the Referendum is producing some wild predictions
It is true that businesses dislike uncertainty when planning for medium and long term investment and that it will probably
Are you prepared for Pension auto-enrolment?
There cannot be many employers now who are not aware of the government’s legislation to ensure that all employees are
What helpful indicators can SMEs keep an eye on?
Cost and commodity prices have been very low for quite some time and the exchange rate will now mean they
Proactive Health and Safety initiatives can build employee loyalty
Many SMEs regard Health and Safety (H & S) regulations as a burden and a cost but demonstrating a genuine
Documents, filing and systems – business housekeeping
In order to be ready for changes in the market and economic outlook a business needs to be organised and
Budgeting for marketing when the business future is uncertain
At the moment there is a big question mark over the future prospects for business with many companies unsure what
Understanding allowable business expenses is important
This month is a good time to look at all aspects of your business “housekeeping” for two reasons. Firstly, it
Conflict is an opportunity for transformation and innovation
A former peace monitor in South Africa during Apartheid and now the founder of a niche consultancy called Questions of
Proposals for new legislation to restructure and save businesses
All too often when a business gets into financial difficulties the odds are heavily stacked against it being able to
Understanding the benefits and drawbacks of Directors’ Accounts
Historically it was common practice for director/shareholders to borrow money from their company and clear the loan with dividends from
Keep calm and reassure your EU customers
Within hours of the result of the UK’s EU referendum being announced on Friday, June 24, three of our clients
Deadline looming for new system that replaces the Annual Return
From 30 June 2016 the requirement to file Annual Returns with Companies House is changing. Following the introduction of the
Blogging for your business
Small business owners often ask why they need a blog on their website, especially when their business is in a
When and why do you communicate with your customers?
Regular communication with customers and clients is something that businesses often do without having any clear strategy or purpose. This
Revisiting the role of the manager
There has been a massive reduction in middle management positions in recent years which raises questions about the role of
Who makes purchasing decisions in your business?
Controlling expenditure should be a fundamental principle for any business and the business plan should contain details of the company’s
How to identify new opportunities
It is one thing to spot a new business opportunity but quite another and much harder to identify whether it
SMART marketing goals – Specific, Measureable, Achievable, Realistic & Timely
Whether a business is using traditional or digital marketing techniques the same principles apply to defining the goals of any
The EU Referendum – businesses want stability
With just 23 days to go before the UK votes on whether to stay in or leave the EU there
Better know your weaknesses than be unaware of them!
As a business owner or manager it would be nice to think you have no weaknesses but how realistic is
Why do visitors leave my website without buying?
If a business relies on its website to make sales, as e-commerce websites in particular do, encouraging visitors to stay,
Managing remote workers – how to get it right
A business may have employees working remotely for a number of reasons. They include parents of young children, people who
Tools to help you get more from online marketing
Often businesses are disappointed by the lack of a return, in terms of measurable actions by viewers, resulting from their
Would leaving the EU affect businesses’ access to capital?
To a large extent what will happen to access to capital should Britain vote to leave the EU will be
Strengths, Weaknesses, Opportunities, Threats – SWOT, So What?
Investors, banks and advisers often ask clients to carry out a SWOT analysis. But a SWOT analysis is meaningless unless
Access to skilled workers and the EU referendum
A key issue for business in the June referendum on whether the UK should remain in or leave Europe is
New article published
My first article for the international publication, the Journal for Corporate Renewal (JCR), has just been published. It discusses the
Negotiating on prices – what's your business model?
Here’s an amusing, but remarkably effective, tool that graphically demonstrates the choices that have to be made in negotiations over
Turnaround, Transformation or Pivot?
Many businesses get into a rut after a time and if they are not in difficulties the temptation is to
Do you manage your staff or do they manage you?
Recently I have come across a situation that I call Upward Management. This is where staff are managing their managers
How far do you take your business online?
The opportunities for putting a business online are almost infinite, regardless of the sector it is in. At the most
Manufacturing – Onshore or Offshore?
Not so long ago manufacturers in the developed world were off shoring, that is shifting production of their goods to
Business websites and Google analytics – time for a trusted expert?
Business owners need accurate and detailed information about their website’s performance and one of the most comprehensive tools for finding
Proposed EU taxation and the UK Financial Sector
Over the coming weeks we will be looking at some of the issues that could influence whether the UK remains
Are businessmen missing out by not engaging with Facebook?
There is no doubt that digital marketing, marketing online, social media marketing, whatever name you give it, is now firmly
UK Steel – how can business operate in a global market?
Last week’s decision by Tata to sell off or close its UK steel operations graphically illustrates the challenges for UK
Proud of our new App? Yes, and now we need your help
The world’s first picture password App is launched today as a simple, easy and visual way to unlock your smart
Businesses continue to lack confidence
Productivity is not improving, the global economy is still flat and it is no surprise that UK businesses, particularly SMEs,
Keeping on top of Facebook analytics
While all social media analytics offer helpful insights into the behaviour of customers and the effectiveness of marketing campaigns, they
After the budget hubris, what's in it for SMEs?
The drama of threatened backbench rebellions and a resignation following last week’s budget has rather overshadowed the elements of good
New dividend tax rules for business owners from April 2016
Another April 2016 deadline is looming, this time it is the taxation of income received from dividends on shares. The
Is someone close to you showing signs of business related stress?
When a business is in difficulties it is a fairly common behaviour for owners or managers to go into denial,
What data is available for businesses from Facebook?
We continue our look at social media and the importance of checking on how it is performing for your business
April 2016 deadline for new legal requirement for businesses
From April 1 2016 most UK companies and LLPs are legally required to identify and record the details of anyone
Use Twitter data to improve your marketing
Twitter offers valuable insights into your customers and their behaviour which can in turn be used to improve the way
Effective social media strategies need analysis
The use of various social media platforms is becoming established as a part of a business marketing strategy in the
Willful blindness by executives
The term ‘willful blindness’ is a legal term that has existed since the 19th Century and is defined as a situation
Recovering from negative pressure in business
In our last few blogs we have examined the effects of negative pressure on managers and business owners and how
Continuous improvement is a must for business survival
At last! The UK will vote on staying in or getting out the EU in June. At least there is
Macho behaviour avoids facing business and financial problems
Research published in the British Journal of Psychiatry reported that in the years following the 2008 Great Recession by the
Time to try some creative and memorable marketing
There is a considerable temptation when the economic times are uncertain to cut back on any overheads a business considers
Has negative pressure taken over your life?
Negative pressure can spill over into the rest of life because it often gives rise to feelings of frustration, anger
Customer care is essential in today’s economic climate
It may be premature and alarmist to speak of an impending financial crisis, but when the markets, including financial, economic
Pressure at work – the good and the bad
Pressure at work has been argued to be a positive when it encourages people to perform to the absolute best
Protecting a business in choppy economic waters
At the start of January the Chancellor, George Osborne, warned of a dangerous “cocktail of risks” facing the UK economy
Insolvent Companies can Survive a Winding-Up Petition
It is possible to get a Winding-Up Petition dismissed even when a business is insolvent and does not have the
January planning – Re:act
Now that the business plan has been refreshed, the year’s business goals have been set and the marketing plan to
Surviving a Winding-Up Petition
A Winding-Up Petition need not be the end of a business, but it does require prompt and decisive actions if
January planning – Re:fresh
You’ve done your research and consulted with staff and others and should now have outlined your business goals for the
Winding-Up Petitions – the costs of doing nothing
The following story is a tale of how failing to pay moneys owed can end up not only with costs
January planning – Re:view goals
If you used the first week back in the office to Re:flect on your business and consult with colleagues about
Don’t risk losing your business to a Winding-Up Petition
When a company is on the receiving end of a Winding-Up Petition, it is a sign that a creditor has
Time for a Fresh Start. Take time to Re:flect
It is all too easy during the first week back in the office to rush into work. I hope that
Prepare yourself for the New Year
We hope you are enjoying the seasonal break and that it is giving you some time to relax and prepare
Happy Christmas and a prosperous New Year
We wish you all a very happy and peaceful Christmas and a prosperous New Year
Christmas is an opportunity to say "thank you"
Everyone responds well to praise and in particular it makes staff feel valued. This in turn makes them want to
Keep calm and carry on – how to enjoy Christmas!
There is no doubt that the season of goodwill can be stressful, especially if you are worried about the state
Stress in business can be positive, or negative
Are feelings of stress always a bad thing? Not according to psychologists and counsellors, who are increasingly distinguishing between positive
Stressed? Doing nothing is not an option
Depending on personality type, people react differently to stress and the feeling it brings of being overwhelmed. However, being frozen
What’s the difference between stress and pressure in business?
Ask a business owner how things are going and they are more than likely to use the words “stress” or
Economic forecasts for SMEs
Nobody starts a business without expectations and plans for its future success, and we all need to make predictions about
Smile, laugh and breathe
Taking time out to smile, laugh and just breathe is something all successful people do and in particular for leaders
The 4-Part Single Sentence "Elevator Pitch" That Actually Works
Some are cheesy. Some are crass. Some are crazy. But very few are compelling and convincing. Until now…! You know
Respect will get the best out of your staff
While a successful leader needs to avoid getting drawn into lengthy conversations at the start of the day, a little
Reclaim your brain. Learn to say "NO"
Something that makes successful people stand out is their ability to avoid distractions and learn to say “NO”. It is
Why do successful people practise time management?
Continuing our series on successful people this time we are looking at the importance of time management. There are two
Corporate psychopaths: motivation is about being firm but fair not ruthless and rude
A few years ago the Journal of Business Ethics published an article on “corporate psychopaths”, identifying several senior figures in
Successful people take time to set themselves up for the day
Over the next few blogs we will be looking at some of the things that successful people do that help
Creative thinking and innovation are crucial to manufacturing growth
Addressing the challenges facing UK manufacturing requires creative thinking, innovation and fundamentally investment if it is grow in the medium
New French law expected to help restructure insolvent businesses in France
French legislation has been well-known for making it difficult to restructure insolvent businesses in France. Now, thanks to as series
Can we rely on the US dollar for global financial stability?
Many of the world’s currencies rely on the US dollar as a world reserve currency to hold for their own
Do you run your business or does it run you?
Owners quite rightly feel passionate about their businesses and feel they know it better than everyone else, which can lead
Construction is a UK economic growth sector – or is it?
There has been some evidence over recent months that the UK construction industry has not been growing as might be
Disaster management – when things go wrong in business
We talked in a recent blog about managing anxiety in business and channeling it positively. But what can business leaders
Steel industry's problems are benefiting the UK metal fabricators
Ironically, the causes of the woes currently besetting the UK’s steel industry are good news for the country’s metal fabricators.
How to relish challenges and deal with anxiety
Many people deal with pressure in business but, according to a new study by the Harvard Business School, few are
Austerity fatigue, consumer behaviour and still choppy High Street waters
Tesco’s announcement of a halving of profits for the first half of the year suggests there is no clear sign
Has what little trust we have in the banks been further eroded?
A guest post from Clive Pacey, Commercial finance broker CPCM Finance This story is somewhat disturbing but would easily
Which is better – stock or cash?
Whether bought-in inventory, finished goods or raw materials, slow-moving stock is not only something that takes up space, it also
Bankruptcy petition threshold increases
From 1st October 2015 the £750 minimum liability threshold of debt for which creditors can petition for the bankruptcy of
How many suppliers does your business really need?
In the course of our work in helping SMEs to become more efficient and targeted, we often come across businesses
When should you pivot your business model?
The term “pivot” was first applied by Eric Ries, creator of the Lean Start-up method, to describe how a new
There’s no “one size fits all” marketing strategy
It is fair to say that marketing in all its forms should be an ongoing activity for SMEs in both
“Unknown unknowns” and the Fed's failure to confront reality
Will they? Won’t they? Should they? Shouldn’t they? Every business analyst has been pondering whether the US Fed’s Open Market
Recession or lacklustre growth in the next decade?
We all know that forecasting is an uncertain business and that news headlines should be treated with considerable caution. But
Productive borrowing and unproductive borrowing
Borrowing money to finance both business and household spending has been central to the growth of most countries’ economies. But
Why UK is struggling to fund new ideas
It could be argued that in the past investors had a more direct connection and interest in the businesses in
SMEs need to keep on top of their tax bills
HM Revenue and Customs (HMRC) may have been accommodating in the early years after the 2008 financial crash, but not
Business improvement is a continual process
As people become a bit more comfortable in their businesses, growing and selling more, it is easy to forget the
No need for SMEs to panic over China
There has been a great deal of angst in the finance and business media over the impact China’s slowdown is
Low interest rates – the lull before the storm!
It seems that some members of the Bank of England’s Monetary Policy Committee have broken the previous unanimity and are
Investor Visas offer another source of finance for UK businesses
Businesses looking for investors may be able to take advantage of another avenue of finance, as a result of revised
The clock is ticking for Auto-enrolment for SMEs
This year the employers’ compulsory pension auto-enrolment scheme is starting to impact on some SMEs. Employers will have to contribute
How can SMEs prepare for the National Living Wage?
Predictably, predictions of job cuts and slower growth for SMEs followed the announcement of a compulsory National Living Wage in
Donation crowdfunding can be useful to businesses
Donation crowdfunding, also called reward crowdfunding, is the third type of crowdfunding covered in my series. It is like Equity
Is raising finance from debt crowdfunding a good idea?
In the second in our series on crowdfunding we’re focusing on debt crowdfunding, also called Peer to Business lending. Typically
Essentials of Equity Crowdfunding
Equity crowdfunding is particularly useful for start-ups and SMEs seeking to grow, particularly because it is so difficult to raise
An overview of crowdfunding
Funding for businesses and in particular those wanting to invest in development and growth has become extremely difficult to find.
Skills shortages? Companies should stop whingeing and do something about it
Yet again shortly after the recent budget employers were complaining about a shortage of skilled workers. The Confederation of British
Copyright ownership and your rights
We regularly come across businesses that have found themselves locked into a particular graphic designer, marketing consultant or website developer
Don't sign business agreements without expiry and termination clauses
It is astonishing how many businesses enter into agreements with clients, partners and suppliers without defining how they can be
Do SMEs need an employee handbook?
Many SME owners ask why they need the formality of an employee handbook for their staff. There are several reasons,
A positive induction experience is key to performance and retention of new recruits
Recruiting staff can be a costly and time-consuming process for SMEs and doesn’t finish when someone is given the job.
How to ensure you are recruiting the right people
For a small businesses in particular, recruiting the right employees can be a challenge. Key elements of recruitment are knowing
How can a start-up business assess the advice it is given?
An intending start-up business needs advice that is good quality, good value for money and, crucially, impartial. Getting good quality
Starting a business is no easier for ex-corporate executives
While a business rescue advisor usually enters the picture at the point where a business is struggling often they can
What are the personality traits of a successful entrepreneur?
Asked to name famous entrepreneurs and perhaps most people would list Steve Jobs (Apple), Bill Gates (Microsoft), Richard Branson (Virgin)
What are the basics of a fair and useful appraisal system?
Very few people have been taught how to deal with or manage staff so it is not only staff on
Does your business have an appraisal system?
I am astonished at how may SMEs have no formal staff appraisal system such that management and staff are surprised
Trust and loyalty are essential for a business
A lot has been said about customers’ loss of trust in banks, supermarkets and other large corporations but there is
Do SMEs gather enough data to make informed decisions?
While large companies tend to have systems that provide information for management to monitor activity and make informed decisions, small
Business leaders need leisure time to be truly creative
In our last blog we discussed the importance of business leaders structuring their busy working week to find time to
Time to think is key for successful business leaders
It can be hard for owners of a small business to prioritise their time, especially if they pride themselves on
Greed and paranoia when business partners fall out
Over the years I have dealt with a number of business partners, be they directors or shareholders, including husbands and
Why do SMEs need to understand their balance sheet?
For years we’ve seen many SMEs who do not produce regular management accounts, which we would argue are far more
Good complaints handling is crucial to SMEs’ survival
Ignoring or handling a complaint badly can be the death of an otherwise perfectly sound small business. While many companies
Is patience being used to justify a lack of investment in productivity?
It would be a mistake to expect business activity to take off immediately after the UK election, although some will
Which way on the EU for SMEs?
Within days of the UK election results the advantages and disadvantages of EU membership are already being discussed by businesses.
Can Private Equity solve the funding gap?
The equity funding gap remains a huge problem for SMEs. There seem to be two gaps. The first is for
Now the election is out of the way, what are your business priorities?
Before the election last week, the main business worries were the lack of orders due to uncertainty, and the lack
Creditors are losing their appetite for formal insolvencies
The decline in the numbers of formal insolvencies suggests that creditors are realising that they don’t actually solve the problem.
How should a business handle employee absenteeism?
“Our employees are our greatest asset” or “we value our staff” are often said but rarely is any investment in
Betrayed trust – a lesson for all SMEs
Like the public’s trust in politicians, the consumers’ trust in a wide range of businesses has plummeted. They include energy
Election uncertainty puts business activity on hold
There is no doubt that there is a lull in business activity ahead of the UK election which I believe
Are there positives hidden in the UK’s decline in productivity?
There has been much worry about the UK’s continued weak productivity and the fact that it continued to decline in
Will the grocery code adjudicator be able to help SME suppliers?
Many supermarkets are now stocking local food products from SME suppliers. This can be both a blessing and a curse
What’s the point of a business plan?
Business gurus will insist that a SME has no credibility or chance of success without a proper business plan. There’s
Labour's promise on zero hours contracts may result in a rise in unemployment
The run-up to an election can be relied on to generate ambiguously-worded promises that may or may not be delivered
How do we improve productivity?
Output per worker, ie productivity, in the UK has been stagnant for some years since the 2008 economic crisis. It
Self employment – desperation or entrepreneurship?
In the UK 40% of the new jobs created in the last four years have been in self employment, an
Do your employees need to be certified by professional trade associations?
Many small businesses offer services and skills that require individuals to be certified by professional trade associations. In some sectors
Why should businesses regularly reinvent themselves?
Businesses often assume their business model will survive for ever. But the salutary story of the troubles of one of
What’s the next business communication great leap forward?
Approximately 150 years ago the railway was the equivalent of today’s internet as a means of communication. Then came the
Sometimes the traditional marketing methods still work best
Businesses are constantly beset with advice and guidance about using the latest technological innovations for their marketing. Sometimes, however, those
Do you know how to deal with enforcement officers?
When a business has a judgement debt due to its creditors, or is overdue paying taxes to HMRC, or its
How can SMEs benefit from membership of a local business groups?
Online business forums regularly feature debate on the costs versus the benefits of membership of local business groups, such as
Can SMEs afford to recover debts?
From this week SMEs wanting to pursue recovery of a debt of £20,000 or more through the civil courts will
Pre-election honeymoon period for businesses?
With an election looming it is unlikely that there will be any controversial legislation between now and May that will
Is short term investment damaging future business prosperity?
For many years, the UK economy has depended heavily on consumer spending and on property speculation. This may have led
Why would any business pay more tax than it needs to?
The subject of tax payment cannot avoid being a political football, especially as an election approaches. But if there is
SMEs have an opportunity to outshine big business
There is a lot of scepticism and distrust among SMEs and consumers about the values and ethics of big corporations
Unworkable business loans and personal guarantees
A Government-inspired business loan scheme would only work if operated in the way that it was actually missold by RBS
Does your business ask for testimonials?
Small traders do not always have the budget for expensive marketing but they do need to be visible; so getting
Should SMEs stop complaining and just get on with business?
As another large bank, HSBC, is named for helping wealthy clients to evade tax payments, a new poll carried out
Where can a business leader turn for support?
It is, as we have said before, important that the owner/MD/CEO of a business is focused on strategy and leadership,
How do you stay ahead of your competition?
In the choppy and uncertain economic climate of early 2015, while the outcomes of the UK election, Eurozone QE and
Does your business have adequate procedures in place?
Procedures can help avoid nightmare situations like the example below. We came across an extreme example recently of how seemingly
Don’t let fear rule your business behaviour
A researcher in the USA asked small business owners what they most feared or worried about and we would argue
There should be clearly defined roles in businesses
Leadership is crucial to keep a business on track and should be the responsibility of the CEO or MD. Too
Saving a business may mean changing behaviour
It is a common reaction when a small business is in trouble for the owner/MD to hope the problem will
Is there a solution for SMEs struggling with lengthy payment terms?
Large companies that impose lengthy periods of ‘end of month plus 90 days’ for invoice payment present a dilemma for
SMEs need contingency plans to survive a disaster
What would you do if… Your office equipment failed or you had no power for a week? Your phone stopped
The marketing value of "thank you" in business
We recently heard of a SME owner who sent out a New Year’s greeting card to their customers and suppliers
The power of networking via Social Media
Cash strapped businesses cannot ignore the need to maintain their visibility and risk losing existing customers who may assume they
Retail start-ups – opportunity or lack of opportunity?
An estimated record 10,000 new retail businesses were launched in 2014 compared to 2013 according to Creditsafe, a company providing
Planning for the year ahead
SMEs often use new year as an opportunity to plan for the year ahead and might benefit from knowing about
Planning ahead? Declutter first
The period between Christmas and New Year is a time when many SMEs plan ahead for the next year. Something
Use the Christmas break to refresh and regroup
Anyone running a small business will know that it is easy to lose sight of the bigger picture in the
How can SMEs pay for innovation?
SMEs are the lifeblood of an economy and generally have been the most innovative businesses. It is often said that
Export opportunities for SMEs? Go take a look
A global economy does not necessarily mean a homogeneous economy. Many SMEs struggling to grow their business in the currently
HMRC has powers to demand security payments
HMRC is using its powers to demand security payments from company officers for VAT, PAYE and NIC where it considers
SME – Supplier relationships should be nurtured
If a business is to survive it needs to manage relationships with both its own suppliers as well as with
Should SMEs ignore the doom mongers?
Many small business owners will be members of their local Chambers of Commerce, perhaps the FSB (Federation of Small Businesses)
Ruling on creditors meetings will help improve CVA outcomes
Creditors meetings for insolvency proceedings will no longer be needed unless requested by least 10% of creditors following a new
Another bank inquiry – increased costs for SMEs?
Yet another massive fine, RBS again, this time £56 million for a computer meltdown in 2012 that left people unable
Record keeping and HMRC communication
SMEs should be prepared for HM Revenue and Customs (HMRC) to become more aggressive in following up on late payment
What can SMEs do to improve productivity?
With so much uncertainty still hanging over the economic recovery it is tempting and prudent for SMEs to continue to
Women, the gender pay gap and parenting
It has been calculated that women in full-time employment earn 15.7% less than men. Indeed, maternity leave and taking time
The forgotten squeeze on incomes
We hear a lot from the unions about a squeeze on incomes for the blue collar workers they represent but
Banks, integrity and relationships
Banks can provide “negligent advice” to customers without being held liable. The outcome of a recent court case has effectively
Has 2008 changed the pattern of insolvencies increasing on an upturn?
An increase in insolvencies used to be a reliable signal that the economy was coming out of recession. Six years
Growth? – make hay while the sun shines
With all the uncertainty and market volatility in recent weeks should SMEs still focus on cash so that new opportunities
Businesses exporting outside Europe – in this climate?
For some time now small businesses have been encouraged to look outside Europe for markets for their goods and services.
Has HMRC frightened off tax advisors from giving advice?
When considering capital reorganisation as part of restructuring a business it is normal to inform HMRC that holdings are being
The High Street is not dead
Since 2010 there has been a justifiable concern about the demise of the High Street. This was fuelled by some
Banks, bad behaviour and relationships
How would you define a relationship? For most of us, it would most likely include some form of personal interaction
Brand values are important for SMEs
The perils of being a well-known brand are amply demonstrated as supermarket giant Tesco continues what is turning out to
"The King is in the all together"
John Lewis boss Andy Street’s comments on France may have offended French sensibilities, provoked the ire of its Prime Minister
Inequality stifling growth?
With an election due soon and party conference season in the UK almost completed, it is no surprise that there
Getting the price right is all about quality and a personal service
Price and fee setting are thorny issues for SMEs. Who has not been advised to “stick to your guns” when
The delusional fund raising pitch
We continue to hear that banks aren’t lending, but there may be a good reason for this. There is a
Can the UK have a balanced economy?
A new YouGov poll of voters has discovered that at least 85% of them want to see a strong emphasis
The perils of a narrow focus and its effect on growth
There is always going to be a need for certain skills regardless of technological change yet somehow over the last
No magic lantern, just commonsense
This week the successful online e-commerce company Alibaba will make a pitch to investors as it prepares to launch as
Independent insolvency advice
An independent adviser can help a business’ directors by identifying what is essential to and special about their business and
SME businesses need goals and a plan
As we noted in our last blog more than two thirds of the new jobs created since 2008 are people
Self employment – are we sowing the seeds of a catastrophe?
Self employment accounts for almost two thirds of the new jobs created in the UK since the 2008 financial crisis
Europe – an uncertain export market for UK?
Several eminent economists have attacked the Eurozone’s post-2008 economic strategy and warned that it could blunder into depression. During a
Risk taking? Fat chance
This week the independent UK body researching issues related to pay, The High Pay Centre, published its annual analysis of
Can there be morality and ethics in business?
Ever since the Great Recession began in 2008 there has been an understandable focus on the moral and ethical behaviour
Director guarantees should mean cheaper borrowing
Financial institutions, especially banks dealing with small business loans, are often asked for loans by directors of companies that do
Is it time to accept some responsibility for our own behaviour?
As we emerge from the 2008 Great Recession, is it time to reflect on the broader values and behaviours that
Glass half full?
In an ideal world every small business is planning ahead but needs some clarity and certainty about the future economic
Knowledge of history may help us avoid making the same mistakes
Today 100 years ago Britain declared war on Germany. Alarmingly many of the circumstances that led us to war then
What would be on your wish list for banking reform?
A full-scale investigation into whether there is sufficient competition among banks is perhaps a step closer, though not yet a
A chance to get involved in a much-needed review
The terms and conditions governing most financial transactions affect us all in both our business and our personal lives. A
SMEs still waiting for redress from IRHP mis-selling
Our regular followers will know that we have been keeping an eye on this issue for some time – here’s
How does a small construction business plan in volatile times?
The construction industry is always a volatile sector whatever the economic circumstances but figures released over the last couple of
Regional growth is on hold while we wait for the election
Plainly we’re already hearing political promises ahead of the 2015 election and most noticeably a recognition that the political focus
Concern about Start-up support scheme is growing
The Sunday Times has been highlighting issues with the Government’s £150 million Start-up loans scheme, which is administered through the
How can you as a small business fund the growth of your team?
Zero hours contracts were heralded as a tool that would help businesses to keep their wage bills under control, by
Business rates reform – there is a prospect of SMEs being exempt
It is three months since the BIS (Business, Innovation and Skills) select committee of MPs published its findings on the
An interesting idea to stimulate SME lending
According to the Business Secretary, Vince Cable, bank lending to SMEs is being “suffocated” because the Bank of England is
Gut feelings and fair weather advisers
A piece of research among business leaders carried out by the Economist Intelligence Unit recently found that nine out of
How can smaller businesses fund growth in the economic upturn?
A new report by the Credit Management Research Centre and Taulia has revealed that UK companies have been relying
The shifting sands of retail
There are signs of a re-balancing between online retail and physical stores as Asos posts its second profit warning
Private Equity, investment and retail
Earlier this year we asked whether Private Equity should be involved in High Street retail after several well-known chains
The new parable of the talents
“For to everyone who has will more be given and he will have an abundance. But from the one
Update on Interest Rate Swaps missold to SMEs
The May deadline for banks to compensate thousands of small businesses for the misselling of Interest Rate Swaps (IRS)
Wednesday will be an interesting day for small businesses
Results of a survey into lending to small businesses are due to be published tomorrow (Wednesday) and are expected
Be prepared!
The news is awash with worries about a new housing bubble and the need to contain it by raising
Quality v quantity in social media marketing for SMEs
Part of the job of transforming a company in difficulty is finding a market. While the immediate crisis is
From little acorns……..
Our regular readers will know that we continue to liberally apply a pinch of salt to reports on the solidity
Are businesses vulnerable to fraud?
One our investment portfolio companies, Music Room Direct, is a small internet retail business that supplies musically themed goods
Thinking of trading overseas? Where can you get help?
Businesses are being encouraged to sell their goods and services overseas as part of the drive to rebuild and
Strong arm tactics and fractured thinking
Many Buy-to-Let landlords who bought property before the Great Financial Crisis are being subjected to strong arm tactics by
RBS – whitewash or exoneration?
The first of the investigations into behaviour by the Royal Bank of Scotland (RBS) following publication of the Tomlinson
Further thoughts on small business definitions
If, as is argued, Micro businesses are unable to take advantage of Government initiatives for small businesses (the S
Are SMEs really MSMEs and what is the squeezed Middle?
We all use it without really thinking and assume we know what it means. The acronym SME provokes puzzlement
Further questions need to be asked
In our last blog we highlighted the case of businessman Michael Hockin’s 15-month battle to be allowed to sue
High Court ruling on mis-sold IRS gives businessman the right to sue RBS
As time goes on more and more murky behaviour by the banks in their treatment of SMEs over Interest
Are investors continuing to think short term?
A week ago ASOS, one of the UK’s most successful online retailers, announced plans to increase its investment in
What help was the budget to SMEs?
A post-budget vote in Kent by 100 business people revealed that 80% of them were more confident about the
Investigation of treatment of SMEs by banks – what next?
We reported in a recent blog on the announcement that the Treasury Select Committee (TSC) had begun investigating the
Can SMEs afford to bid for public sector contracts?
By coincidence on the same day that the British Chambers of Commerce (BCC) announced revised growth forecasts, predicting that
Business Rates – time for a change?
As the Chancellor’s March Budget statement approaches, calls for a complete overhaul of business rates have been growing. The
Should Private Equity be involved in High Street retail?
2014 started with much media speculation that a variety of well-known retailers – or more correctly, their Private Equity(PE)
Bully Banks fight back on behalf of SMEs
The Treasury Select Committee (TSC) has begun investigating the banks’ treatment of SMEs, covering everything from lack of financing
Is another bank mis-selling scandal brewing?
The full extent of the banks’ questionable behaviour following the 2008 crash has seemingly not yet played out as
Unbalanced recovery – surprise, surprise
Over the past few weeks there have been a number of profit warnings from high profile companies, including Serco,
Are you a collaborator?
It is widely believed that larger companies are reluctant to engage with sole traders and SMEs because they feel
Change is now the only constant
Consumers and clients are fickle, the pace of life is accelerating and it’s all thanks to the internet. It
Self Employed? You need to think like a Business
The government has been playing up a rise in disposable income, culled from figures compiled by the Office of
Family businesses surviving the centuries
According to the Institute for Family Businesses there are 3 million family firms in the UK and they represent
You just can’t get the staff these days!
A problem that many SMEs struggle with and have raised again in recent weeks is finding suitably qualified people
Flavour of the month – MINT
It started with the BRICs, then came the PIGS and now it’s the MINTs. What do they all have
Economic recovery outside London?
From my office in Mayfair it would seem that economic recovery is gathering pace, but when I visit clients
Transformation of the High Street
So far the end of year trading results are revealing a mixed picture of High Street retail winners and
It’s all about getting the balance right if SMEs want to grow
There is a lot of optimism in the press and the New Year heralds confidence about the prospects for
Growth for SMEs in 2014?
This is the time of year when all the pundits, stargazers and assorted “experts” start predicting what the next 12
Will we see more retail failures in the New Year?
With a quarter day looming in December many retailers will be hoping for healthy sales in the run-up to
Bosses don’t always know best
It is fantasy for directors to think that they can keep things under wraps when their company is in difficulties.
The proposed revisions to SIP 3 do not adequately address the issue of IPs being both poacher and gamekeeper
A CVA (Company Voluntary Arrangement) is an agreement that allows an insolvent company to survive with the consent of 75%
The integrity of leaders is subjected to scrutiny when negotiating their remuneration
The Swiss have just turned down a proposal in a referendum to limit executive pay to no more than 12
Does the latest banking revelation have an impact on the insolvency profession?
The treatment of SMEs in the aftermath of the 2008 credit crunch by RBS, one of the UK’s two main
Zombie companies have a number of options for achieving growth
Zombie companies will at some time need to confront three fundamental problems before they can achieve growth: 1. how to
Zombies are not dead
We hear a lot about the dead weight of zombie companies and how they should be put out of their
Is it wise to rely so heavily on a recovery led by consumer spending?
There has been some recent data and a good deal of spin about the economic recovery becoming more secure and
Why isn’t more effort made to rescue failing businesses?
It is almost 30 years since legislation in the Insolvency Act 1986 introduced Administrations and Company Voluntary Arrangements (CVAs) as
Law firms need to get serious about their business plans and cash flow
Professional Indemnity insurance is advisable for most professional businesses but for law firms it is compulsory. Renewal has been complicated
Read the fine print
We are hearing stories of lenders applying enormously high rates of interest, as high as 59%, on asset-based loans to
Economic recovery and funding growth
A recent survey by the FSB reported that 47% of its members had been refused loans in the last three
Turning around SMEs for growth
Signs of an economic recovery seem to be feeding through into increased confidence among chief financial officers of some of
Growth will not come from betting on certainties
Financially speaking we are living in a risk averse world post 2008. This may be understandable but in a globally
Turning around the economic juggernaut means restoring SMEs’ confidence
Business Secretary Vince Cable warned at the LibDem conference that rebuilding the economy was going to be a long process
Further evidence that a safe pare of hands is not enough for growth
Some new figures on attitudes to innovation from Price Waterhouse Cooper reinforce the point that growth will not come from
It’s the political silly season again
The first shots are being fired in the annual round of party conference one-up-manship with Chancellor Osborne claiming that the
A safe pair of hands does not include plans for growth
UK companies are reportedly hoarding as much as £700 billion in cash. Despite this, business investment grew by just 1.7%
Pre-packs under scrutiny again?
Baker Tilly’s purchase of the debt-laden accountancy firm RMS Tenon has put the use of pre-pack administration under the spotlight
Administrator's fees of £500k for a small firm
This shocking story in the Daily Telegraph did not name the insolvency firm who built managed to charge a staggering £500,000
Business pain in a recovering economy
There are two things happening that suggest that signs of economic recovery are believable, rather than government spin. The first
Unintended consequences
Turning around a struggling economy, like turning a business in distress, is a complex process where it is wise to
Can employers expect loyalty from workers on Zero Hours contracts?
Employee consultation and support can, in our view, make a huge difference to success when a company in difficulties is
Will the new Employment Tribunal fees give employers some protection?
On the face of it the new charges on employees seeking redress for workplace issues via tribunals could be good
Relying on consumers for restored economic growth is madness
Moderate improvements in economic activity, upwardly revised growth forecasts for the rest of 2013 and now, Bank of England figures
FREE Essential Business Owner Seminar
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Involving employees can be crucial to successful company restructuring
It shouldn’t be rocket science to accept that giving employees a stake in their company’s future encourages commitment and efficiency.
Learn to say “no”
Most of us love a bargain but it can be a false economy if the lower price means reduced quality.
Should Governments try to help businesses or leave us alone?
Governments are an easy target for blame when life is difficult for businesses. The previous UK incumbents were accused of
Joined-up Thinking on Retail?
Everybody and his wife has an opinion on what should be done to revive the UK’s High Streets and retail.
Are We About to See a Rise in Insolvencies?
New research by the insolvency industry’s trade body, R3, has found that the number of zombie companies has gone down
How can private equity help to turn around a business?
When a private equity group buys out a struggling company they are often seen simply as injecting finance that only
Culture Shock
If all the recommendations in the Banking Commission’s long-awaited report on banking standards are implemented the banking industry will undergo
Is Starting a Business in a Recession Wise or Foolish?
It is no secret that the Government is relying on SMEs to stimulate both the economic recovery and jobs. Lord
Politicians and Economists are failing SMEs
Investment in innovation has to be a long term strategy while the UK’s fixed term parliamentary system and the need
Investors need to rethink their requirements
Many of us believe that a change in investor culture is long overdue. We need to incentivise long-term investment in
Is it all doom and gloom or are there rays of sunshine on the horizon?
It started mid-May with the Bank of England governor Sir Mervyn King upgrading the economic forecast for the rest of
Calls for Private Equity investment to stimulate growth
There has been a chorus of voices recently wanting to see private enterprises or Private Equity firms investing to stimulate
Rent seeking is a drain on growth
There has been more media doom and gloom about the High Street, with the news that 10 out of 12
Two steps forward and one step back is the new normal
“It seems that every time an upward trend in sales volumes seems to be emerge it’s quickly snuffed out. While
Is blaming the weather for a downturn in High Street trade a red herring?
With the somewhat slow and tentative arrival of Spring have come the by now regular comments blaming the weather for
When will businesses invest in the future?
It is hardly a closely-guarded secret that the UK’s largest companies are holding onto a large pile of cash, estimated
UK Business Growth
There are indications of consumer confidence in the UK. One the sale of new cars where during the first three
Are we brewing another bubble?
Profits are up at Currys, PC World and Asda. Outgoing Bank of England Governor Sir Mervyn King has revised upwards
Politics and banking – an unholy alliance
Politicians remain wedded to the importance of the financial sector to the UK economy despite the ongoing aftermath of the
Short term thinking is wrecking the UK’s future
As if risk averse lenders were not problem enough UK businesses have long complained that there is too much short
Business realism – or not?
Last week we asked whether the extension of the Funding for Lending scheme by the Bank of England was a
If it doesn’t work the first time do it again only bigger
Funding for Lending has not stimulated bank lending to SMEs so what does the Bank of England do? That’s right,
HMRC is getting tougher on SMEs with unpaid VAT
SMEs have been bearing the brunt of HMRC taking a much harder approach to unpaid VAT bills, according to a
Why HMV may just survive while other high street retailers crash and burn
Despite the continuing carnage on the High Street there are glimmers of hope emerging from the restructuring process currently being
Insolvency does not have to be the end of your business
When an SME encounters cash flow difficulties and cannot pay its bills many owners assume that their business is bust
Frozen panic could become a self-fulfilling prophecy
The latest quarterly survey carried out by the insurance giant Zurich found that 16% of the British small and medium-sized
A revolution in business culture?
Are the super rich at the World Economic Forum in Davos “morally and intellectually bankrupt” as opined by Will Hutton
One – or two – swallows do not make a summer
Following on from the demise of Jessups the camera retailers the news that HMV had finally called in the administrators
Quarter Day Rent claims its first major scalp of 2013
K2 Business Rescue asked in a pre-Christmas blog whether January would see a rise of retail insolvencies given the December
Are we doing enough to publicise the benefits of business rescue and turnaround?
A recent discussion in the LinkedIn group, Restructuring and Turnaround Management, asked whether anyone in the turnaround industry ever received
Update
In view of our comments in the last item it is no surprise, therefore that the struggling music, films and
Season of Goodwill?
December marks a “pinch point” for many businesses, particularly for the high street retailers. The quarter day – when quarterly
Crowd Funding has a Key Factor that makes it Attractive to Firms Seeking Cash
The plethora of Government initiatives designed to stimulate lending to small enterprises and StartUps, seem to have mainly sunk without
Beware! Disputing a debt may not stop a Winding Up Petition
It is not enough to dispute a debt when dealing with a creditor’s Winding Up Petition, it is the disputed
Banks need an incentive to lend to Entrepreneurs and SMEs
Despite government rhetoric and its promotion of initiatives to encourage bank lending to entrepreneurs and SMEs the banks aren’t lending.
Is the Economic Recovery Being Imperilled by Banks’ Continued Failure to Lend to SMEs?
Despite government rhetoric, evidence continues to pile up that the banks are still not lending to Small and Medium-sized Enterprises
Beware of Directors’ Loan Accounts
Accountants often advise clients to use directors’ loan accounts as a device to help minimise their personal tax liabilities. However,
Build a Flexible Marketing Model to Ensure Perpetual Growth
Following on from the flexible business model that we developed to ensure the perpetual survival of businesses it makes sense
Build a Flexible Business Model to Ensure Perpetual Survival
While businesses might be concerned about a eurozone Armageddon, whatever the outcome they will need to ensure survival for the
Norman Tebbitt said “Get on Your Bikes”, we Say “Get on a Plane”
Optimism has been in short supply as 2011 comes to its end and businesses will need to be even more
The Current Situation and K2’s Recommendations for the Autumn Budget Statement
Calls for measures in next week’s Autumn Budget Statement to stimulate the economy are growing louder by the day. Sadly,
Times are Tough for Commercial Landlords
Commercial landlords are coming under pressure from all sides in the current economic climate. The plight of those landlords in
Falling Confidence Among SMEs Supports Evidence of a Long L-Shaped Recession
Recently released insolvency figures show relatively little change year on year, suggesting that the debate about whether the recession would
The Roller-coaster That is Magazine Publishing
The magazine publishing industry has been on a roller coaster ride for many years as print advertising revenues have plummeted,
A cynical view of the European bailout
The European President Herman Van Rompuy has finally emerged from wherever he’s been hiding to comment on the European bailout
Politicians and Retailers are Still in Denial as they Focus on Window Dressing
Once again retailers have blamed the weather for stagnant sales, only this time it was a couple of weeks of
Construction in Crisis – Time for a Reconstruction?
The ongoing economic crisis continues to take its toll on the construction industry with the sad news that a high
Businesses Should Pay Down Debt and Beware Offers That Seem Too Good to be True
Many businesses are overburdened with debt and desperate for ways to deal with pressure from banks, HMRC and other creditors.
Leadership, Restructuring and the Eurozone
The Germans and other northern members have benefited from the Euro effectively fixing the exchange rate that has made it
Winding Up Petitions
269 Company Winding Up Petitions are due to be heard in the High Court this coming Monday, 19th September where
Bring Back Pride in Non-Academic Skills
August may traditionally be the “silly season” but last month the news did not stop rolling with turmoil on the
Latest insolvency stats suggest Zombie companies are still hanging on
The latest Insolvency stats suggest that Zombie Businesses are holding back the UK Economy. A summary of the Q2 2011
Successful retail business models can overcome a depressed market
Despite the ongoing doom and gloom on the High Street there have been some success stories. They all illustrate a
Saving insolvent companies needs both a restructuring and business plan
Following the demise of Rok and Connaught, a third national building maintenance company, Kinetics Group, has gone into administration with
How to protect Personal Guarantees when a company is insolvent
Many insolvent companies are being run to avoid the triggering of personal guarantees given by directors and owners. Most personal
Many companies for sale turn out to be insolvent
Many companies are being listed for sale through brokers with high price tags based on very tenuous valuations, where the
Companies are failing to manage Debt Collection and Credit terms
Many companies are risking their own solvency and ability to carry on trading because they neither manage their debt collection
HMRC Insolvency and Enforcement workload
The HM Revenue and Customs insolvency and enforcement department in Worthing appears to have an increasing workload. I believe there
Don’t Waste Your Money Marketing
When business owners run short of cash they get desperate. They pretend nothing is wrong and often they pick up
Small Business Marketing Needs Innovation and Commitment
It is a natural reaction in tough economic times for businesses to look at their various activities and identify costs
Are Estate Agencies Safer Businesses Now than they were in 2008?
The sub prime mortgage crisis that precipitated the 2008 global recession led to plummeting property prices, very limited mortgage lending,
It is obvious why Bank Fees are High and Business Lending is so Difficult
The figures for January to March showed a shortfall of 12% against the £19bn that represents a quarter of the
Franchising Can Be Great if You do the Research and Check the Small Print
Many people dream of owning their own business and in the current economic climate are finding themselves pitched into starting
Do Small Businesses Understand Working Capital and Liquidity?
When borrowing against current assets, such as the sales ledger using factoring or invoice discounting or against fixed assets like
A Significant Increase in Winding Up Petitions
The last couple of months have seen a significant increase in the numbers of Winding Up Petitions (WUPs) being filed
Saving the High Street
Retail pain continues with the news that Mothercare is to close a third of its 373 UK stores. JJB Sports
Break Free from Servicing Debt and Invest in Growth
Britain lacks self confidence and suffers from inadequate education, risk averse bureaucrats and unimaginative politicians trapped in the Westminster bubble
First decline in household income for 30 years causes pain on the High Street
The Office for National Statistics (ONS) reported recently that in 2010 real household disposable income fell by 0.8%, its first
The Current Conundrum Over Inflation and Interest Rates
The most recent inflation rates show that the Consumer Price Index (CPI) has risen to 4%, a surprise drop of
Maghreb and Middle East Volatility Adds to Pressures on UK Business
Pressure on UK businesses is already intense as a result of the Government’s austerity measures designed to cut the UK
K2 believes the budget is positive for business and for those in difficulties
With the latest inflation figure showing an increase to 4.4% and a lower amount of tax collected in February, both
Factoring and Invoice Discounting: Be Wary of Hidden Fees
Factoring and invoice discounting (borrowing money against invoices) can be a helpful tool for funding the working capital of a
HMRC Taking a Tougher Line on Debt Recovery
Evidence is emerging that HM Revenue and Customs is adopting a tougher approach to PAYE, VAT and tax arrears and
Will Project Merlin Make any Difference to Business Lending?
With so many companies in financial difficulties will many companies be able to take out further loans as a result
Latest Insolvency Figures Suggest that UK Business is Hanging on in There
Figures from the UK Insolvency Service just released on 4 February 2011 for the last quarter of 2010 (Q4) show
Is it Realistic for Private Businesses to Employ more Staff in 2011?
The majority of businesses in the UK are defined as small and employ fewer than 50 people while only one
Employee Equity can Improve the Chances of a Successful Restructuring
Businesses and the UK economy are under pressure from inflation thanks to increased taxes, such as VAT, and commodity prices
The Deadline for Repaying Bank Bail-out Money Implies Continued Pressure on Business Lending
British banks have until 31 January 2012 to pay back the money made available to them by the Bank of
HM Revenue and Customs is Increasingly Rejecting CVA Proposals
It is not being much talked about in the marketplace but it is becoming increasingly common for HM Revenue and
Business Survival Depends on Stakeholder Co-operation and Collaboration
The support and co-operation of its stakeholders can be crucial to the success or failure of the efforts by a
How Many High Street Names Will Survive to the End of 2011?
Traditionally UK retailers expect sales in the fourth quarter of the year(Q4) to be significantly boosted by pre-Christmas shopping and
The Focus Must be on Cash Management When Times Are Tough
Profit and turnover are, of course, important measures of business performance but when times are as difficult as they are
Businesses Should Prepare Themselves for the High Level of Inflation
One of the greatest worries in the predicted difficult conditions of 2011 for both businesses and consumers is price inflation
The Questions HM Revenue and Customs Asks to Assess a request for Time to Pay Arrears
Recently uploaded guidelines for HM Revenue and Customs case officers dealing with requests from businesses in difficulty for time to
HMRC’s Assessment Criteria for a Time to Pay Arrangement for Revenue Arrears
As businesses face continued tough trading conditions in 2011 a new series of guidelines has appeared on the HM Customs
Guide to Company Voluntary Arrangements (CVA) and When to Use Them
A Company Voluntary Arrangement (CVA) is a binding agreement between a company and those to whom it owes money (creditors).
Save Your Company by Terminating Onerous Contracts to Cut Costs
Many directors are afraid of terminating contracts and agreements when their companies are in financial difficulties normally out of a
Guide to Insolvent Liquidation and When and How it is Used
Insolvent Liquidation involves a formal process to close a company. It happens when a company is insolvent, which means it
Dealing with the Bank When Considering a Company Voluntary Arrangement
The large number of companies in financial difficulties is swamping the banks and as a result there is a lack
An Outline of Shareholder and Director Liabilities When a Business is in Difficulty
When a company is insolvent the duties of the directors as its officers move from a primary duty to shareholders
Guide to Creditors Voluntary Liquidation (CVL) from K2 Business Rescue
Creditors’ Voluntary Liquidation is a process by which the directors of an insolvent company can close it down in an
Directors Could be Storing Up Trouble for Later by Sacrificing Pay and Drawings Now
In the current economic crisis company directors are cutting their drawings and foregoing their salaries in order to save their
Turnaround Forecasting is About Reality, Not Wishful Thinking
Most forecasting is generally done for lending, fund raising or other investor related purposes and therefore with hope of future
A Frozen Bank Account Need Not be the End of a Business
If a bank takes action to freeze a company’s bank account it is an indication that the bank is nervous
Is Your Business Structure Holding Back Your Success?
The structure of a business is crucial to its success and often it can get in the way of growth.
Business Turnaround Process Involves Completing Three Phases
There are essentially three phases to a business turnaround which are the first, emergency phase to try to ensure survival,
Survival sometimes needs Fundamental Change
Any successful business would be expected to be constantly monitoring its activities and modifying them where necessary to improve the
Working With Trades Unions to Promote Consensual Turnarounds
I have approached a number of UK trades unions with a view to forging a collaborative approach to dealing with