Business news round up

Longer wait for payments

RESEARCH by Bacs Payment Schemes Ltd, the organisation behind direct debit and Bacs direct credit, has revealed that small businesses in the North have to wait an average of 35 days longer than their original agreed payment terms before invoices are paid.

Michael Chambers, managing director of Bacs, said: “Small businesses rely on receiving payments on time so that they can maintain cash flow and ensure the business can run on a day-to-day basis.

“Our research highlights the continued widespread nature and real impact of the late-payment problem, which was affecting 236,000 businesses in the North in December last year.”

Bacs’s research shows that large companies are the main late-payment culprits, with 38 per cent of small firms citing them as the worst offenders. Sixteen per cent of respondents pointed the finger at fellow firms, with a further 13 per cent blaming sole traders.


Help on ash cloud fall-out

OLDHAM business people affected by the Icelandic volcanic ash cloud can visit the Business Link website for guidance.

The eruption, which began on March 20 caused severe travel disruption across Europe, and is continuing to hit flights. Business Link has set up a page on its website www.businesslink.gov.uk/volcanicash  dedicated to helping businesses mitigate the affects.

The site includes information and links to further sources of advice on what to do if staff are stranded overseas; the implications of import and export suspensions; the potential health implications to staff; what to do if you can’t attend offshore trade shows, events and meetings; business continuity planning and managing risk.

Business Link is a regional network of skilled and qualified business advisers and businesslink.gov.uk is the official website for business. There is also a helpline number, 0845 600 9 006.


Best growth for eight years
Manufacturers gave a boost to the UK economy after the sector posted its strongest monthly growth in nearly eight years during March.

The surprise 2.3 per cent jump in manufacturing output raised hopes that the latest estimate of economic growth for the first quarter of 2010 will be revised upwards from the current level of 0.2 per cent.


Election woe
The result of the election has left firms lacking confidence in the economy, with half wanting another national poll in six months, according to a new study of 3,200 companies by the Federation of Small Businesses.


Flying out in style

ETIHAD Airways, the national airline of the United Arab Emirates, is to open a premium lounge in Manchester, the third Etihad lounge outside of the airline’s home base in Abu Dhabi.


Lourdes link

LOW-cost airline bmibaby has started a new service from Manchester to Lourdes. Flights will operate on Mondays and Fridays.


Green shoots

THERE are signs of a turnaround in the commercial property market in the North of England, where rental expectations for the three main sectors, offices, retail and industrial space, have improved slightly.

Home safety

WITH businesses adopting flexible-working practices and allowing staff to work from home, new research from Premierline Direct,.

The business insurance specialist, reveals that an alarmingly high proportion of small to medium enterprises are not aware of their responsibilities as an employer.


Looking up

BUSINESS owners and managers across the region feel that prosperity in the region is at last on the way up according to the latest Bibby Financial Services Business Factors Index.

More than a third of business owners in the region feel their business is performing better than six months ago,