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Hello and welcome to the May edition of our newsletter. 

GDPR may be the talk of the town at the moment but there is still plenty going on in the world of finance and accounting. From small firms being hit by higher pension costs to how late payments are affecting SMEs, below are some highlights of all the latest goings-on.

Small firms are being hit by higher pension costs

As you’re no doubt already well aware, the start of the new tax year saw the introduction of increased employer contributions to employee pensions. While the scheme has been introduced in a bid to encourage workers to save more for their retirement, it’s coming at a big cost for small businesses. With concerns being raised over how this could put a strain on small companies, find out more about the impact this is having on SMEs.  Read more >>

 

funding

Lack of funding is holding back one in four SMEs

A new survey link to blog carried out by specialist lending and savings bank, Aldermore, has revealed that a lack of funding is causing around one in four small and medium-sized firms to miss out on valuable business opportunities. Worryingly, this issue shows no signs of improvement either, with 4% more businesses reporting this problem since the same survey was carried out in 2017.  Read more >>

Late payments affect nearly half of small businesses

If you struggle to get people to pay you on time, you’re not alone. A whopping 48% of small businesses say that they’ve struggled with late payments in the last year. Find out the impact this is having and what the director of the IoD has to say about what should be done about this issue.  Read more >>

 

If you have any questions about the topics raised in this month’s newsletter, please don’t hesitate to get in touch and we will be delighted to help.

 

 Photo of Rebecca Austin - pkb.co.uk

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