News Centre

Companies could be wasting more than £20 billion collectively across the world as they do not share information about their suppliers, new data has revealed.

Small businesses and contractors in the UK have revealed they are concerned over the potential implications that an increase in interest rates could have on their firm.

One in three SMEs are so overwhelmed by day to day activities that they are unable to focus on plans for sustaining business growth, new research suggests.

Late payment issues for small businesses are constantly highlighted as a growing concern in the UK, as a lack of finance can leave many firms teetering on the brink of meltdown.

The recent announcement that Kent based Aylesford Newsprint has filed for Administration is further confirmation of the issues facing the recycling and waste management sector. This follows UPM’s announcement that it will be decommissioning one of its two newsprint machines in Deeside. So what are the issues facing the sector? Ben Stanyon, Senior Manager at Moorfields Corporate Recovery expands:

For some time there have been murmurs of trouble brewing for businesses connected to the UK’s offshore oil and gas industry and there is evidence of a notable uptick in the number of formal insolvencies across the sector. Given their proximity to the North Sea oil and gas fields, cities such as Aberdeen and Norwich rely heavily on the oil and gas industry for employment and inward investment. However, the supply chain extends across the UK so this is not an isolated regional issue.

Small businesses in the UK are losing an average of more than £2,600 each to cases of identity theft and card fraud, research from Experian has revealed.

Branching out into new markets overseas can provide a significant financial boost for small firms if done properly.

Business insurance is an essential requirement for most firms that want to ensure they do not face unnecessary threats to their finances.

More small businesses than ever before are recognising the importance of mobile strategies, according to a new survey by eBay.

Many small business owners and entrepreneurs will make mistakes in the initial part of the process of setting up a company.

Taking on staff is an essential part of growing a business in its initial stages, but it is not without its difficulties.

Demonstrating products and services to potential customers can be the difference between making a sale and not.

Struggling small businesses that could still survive could get their basic bills covered by government funding as they attempt to recover.

As insolvency practitioners and restructuring specialist we at Moorfields see a significant proportion of business failures and insolvencies arising as consequence of working capital shortfalls.

Technology firms in clusters outside London and the south east of England are struggling to attract investment and gain advice, a new report has revealed.

We are all familiar with the idea that fundamental changes to the retail landscape have been driven by technological innovations which, in turn, have driven a shift in consumer behaviour. Current estimates suggest that online purchases account for £1 in every £5 spent on a credit or debit cards in the UK and that total online spending will top £100bn over the next year. Innovations such as supermarket loyalty schemes gather huge amounts of consumer data allowing retailers to develop complex algorithms, anticipating how their offering should be targeted and adjusted to meet demand but also forecasting how consumer behaviour can be “nudged” based upon what people seem to want, need and desire without even knowing it. However, there have also been fundamental changes on the supply side and, in particular, to the way in which retailers interact and transact with their suppliers.

The Federation of Small Businesses has reiterated its desire for the UK government to tackle late payment issues for SMEs.

Arron Kendall and Simon Thomas of leading restructuring and insolvency firm, Moorfields Corporate Recovery Ltd, were appointed Joint Administrators over Oyster Hotels Limited (“Oyster”) on 9 February 2015.

Ben Stanyon, Senior Manager, at Moorfields Corporate Recovery Limited, comments on the proposed changes to the Enterprise and Regulatory Reform Act (“ERRA”).

Small businesses in the UK are more hesitant to borrow after being regularly turned down for finance and this could be impacting upon the economy, according to Funding Knight.

One in four small businesses in the UK is not using a business plan, meaning they are at risk of missing out on growth opportunities and losing direction.

Around 90% of businesses are now using cloud-based applications according to new research, but many firms remain confused over how best to implement it.

Businesses in the UK are facing costs of up to £10 billion a year thanks to the tax system, with small businesses particularly hardest hit, the Association of Accounting Technicians (AAT) has claimed.

Ben Stanyon, Senior Manager, Moorfields Corporate Recovery Ltd, comments on the latest statistics released by the insolvency service:

Around 45,000 businesses will require Auto Enrolment in 2015 but there are concerns that many of them are not yet ready for the changes.

Expanding into overseas regions can provide major boosts for many small companies but it is not without risk.