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£223bn in SME debt ‘unprotected’

Small and medium-sized enterprises (SMEs) in the UK are exposed to serious levels of financial risk, with £223 billion worth of corporate debt currently unprotected, according to new research.

According to a study commissioned by Legal & General as part of its Every Business Matters campaign with professional advice search website unbiased.co.uk, 51 per cent of businesses have some form of corporate debt, averaging £144,980.

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UK counts £52bn cost of fraud

Fraud is costing the UK economy billions of pounds a year, new research has found.

The Annual Fraud Indicator, compiled by the National Fraud Authority (NFA) and published on 6 June, put the annual cost at £52 billion.

Private businesses were estimated to have suffered total fraud losses of £15.9 billion while the public sector faced a £20.6 billion fraud bill. The cost to individuals was put at £9.1 billion, while charities were estimated to have suffered losses of £147 million. Fraud affecting financial and insurance activities was put at £5.4 billion.

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Red tape freeze extended to more businesses

A freeze exempting small businesses from some new regulations is to be extended to larger enterprises.

Business Minister Michael Fallon announced on 6 June that the freeze exempting businesses with fewer than ten employees from burdensome new regulations would be extended to firms with up to 50 staff, and will continue from 2014.

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Directors to face pay clampdown

The government has introduced new measures to curb the excessive pay of executives at the largest companies.

It is introducing regulations, which will apply to large and medium-sized companies and groups, with effect from 1 October 2013. It says the changes mean that investors will be better informed about how much directors have been, and will be, paid, along with how this relates to company performance.

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The Wilder Coe Ltd Knowledge Series: Dividends

In the first portion of our Wilder Coe Ltd Knowledge series, we’ll be discussing the finer details of company dividends and their distribution with Wilder Coe Ltd partner, Ian Saunders, who has over 25 years of experience in Company Formation and Secretarial services. Types of Dividend When it comes to distributing dividends to company shareholders, there are two types of dividend to consider: an interim Read more…

Adopting “Cloud Technology”: What are the considerations for SMEs?

“The Cloud” continues to be the buzzword that generates passionate discussion amongst the business community; from debate on how the adoption of new technology can improve business processes, to the concern that surrounds data security and the potential cost of adoption. As with all investments in new technology, your decision to implement must make strategic sense. New technology should provide you with the technical expertise to Read more…