Small Business Matters

Small business news round-up (13/1/12)

We search out key small business news stories each week so you don’t have to, leaving you more time to spend on running your business.

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Late payment problems not letting up

New research out recently revealed that small businesses are facing a continued and growing problem with late payments. The research from Bacs found that late payments have reached an “all-time high” and the outstanding amount owed to small firms by larger companies now stands at £33.6 billion.

Are you finding this a growing problem? Read our tips on managing late payments

Small business owners would risk homes to stay afloat

According to a new study, over one in ten small business owners would risk losing their home by putting it up for loan collateral if they were unable to secure finance in the face of financial difficulties such as staff wages or cash flow issues. 

Get your small business in on the Olympics action

Think business opportunities relating to the Olympics are just for big companies? Think again! There are plenty of ways that small businesses can get in on the action. However, you need to act now – search out the contracts and make sure you’re in a position to tender for them.

The London 2012 Olympics is set to be one of the largest sporting events in history. Over 50,000 contracts will be available in the run up to and during the Olympics for companies in all sorts of sectors.

You don’t even have to be based in London to apply for these contracts as many are available all over the country.

The key thing now, with less than one year to go until the Games kick off on 27 July 2012, is that swift action is needed.