SMEs in hard hit sectors are increasingly moving to close down their businesses, according to ACCA UK and The Corporate Finance Network’s (CFN) SME Tracker.
ACCA UK: SME closures in perfect storm of issues
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SMEs in hard hit sectors are increasingly moving to close down their businesses, according to ACCA UK and The Corporate Finance Network’s (CFN) SME Tracker.
The SME Tracker survey revealed in February that two accountancy practices reported that 20–25% of their SME clients had already liquidated or wound up, while other accountants, while other accountants reported a much lower figure (0–2%) of enterprise taking the decision to liquidate.
Between May and August 2020, the SME tracker revealed that around 1% of SMEs chose to close their businesses.
Ahead of the March budget, 3.1% of SMEs reported that they expect to run out of money in the next six months and are unlikely to be able to access any extra finance. Another 4.7% also thought they would run out of cash in the next six months but believed they would be able to secure funding to support them.
From digital economies to better health and housing, countryside communities have been asked what Norfolk's funding priorities must be to ensure a thriving rural future.
A kingdom of fragments The SNP is likely to win a resounding victory in the Scottish Parliament elections. How long can London hold off a second independence referendum? The Holyrood election in May is the most significant in the more than 20-year history of devolution and among the most freighted democratic events of the nearly 314-year-old Union between Scotland and England. Current polls suggest the SNP will secure a majority, with a mandate for a second independence referendum, putting Scotland on a path to exit from the UK and creating the conditions for years of rancour and dispute between Edinburgh and London. The end of Britain, if it comes, looks like it will be less a velvet divorce and more a season finale of
02 Feb 2021 | News
Viewpoint: there’s cautious hope for start-up success in Northern Ireland, despite early Brexit pain
Brian McCaul, head of tech transfer at Queen’s University Belfast, believes the city can overcome transition period bumps and keep pace with counterparts elsewhere in the UK
Brian McCaul, head of tech transfer at Queen’s University Belfast. Photo: Queen’s University Belfast.
Brian McCaul, head of the spinout arm of Queen’s University Belfast (QUB) is keeping an open mind on post-Brexit life, saying it could eventually see Northern Ireland gain a competitive edge over other parts of the UK.
“Tactically, we may benefit a little; we could be at the centre of it, if we get clever,” McCaul, CEO of Qubis, the university’s commercialisation arm, told Science|Business.