The Federation of Small Businesses (FSB) has carried out research looking at small businesses reaction to new credit. The study carried out had just under a thousand small business participants. One in three of those businesses say that the new credit is unaffordable. It’s making them hesitant to borrow funds, which are vital for growth. These findings come just ahead of Bank of England’s decision to raise interest rates in the UK.
federation of small businesses
In the latest research conducted by the Federation of Small Businesses (FSB), it was found that the self-employed are not very optimistic about the future. The self-employed in the UK are the largest business group, with there being an estimated of 4.8 million sole traders. The FSB are launching a ‘Think Self-Employed’ scheme to rescue the collapsing confidence of the self-employed in the UK.
In a recent study conducted by the Federation of Small Businesses (FSB), it was found that the percentage of small businesses that have increased the wage for their employees is the highest it’s been in three and a half years.
In the latest report by the FSB (Federation of Small Business) it was found that a large number of small businesses are still unprepared for GDPR (General Data Protection Regulation). Over half of the respondents either had not yet started preparing for the legislation to go into effect or were only at the early stages of compliance. To combat the lack of compliance, the FSB has launched a campaign to get small businesses compliant before the deadline. The countdown has begun, and the GDPR deadline is well under a 100 days away.
The late payment culture in the UK has been plaguing the livelihood of small businesses and causing severe financial strains. The federation of small business (FSB) is urging for more effective policies from the Prompt Payment Code (PPC) which has failed small businesses in the past. The demise of Carillion has effected thousands of people and many businesses that it owed money to.