Many UK small and medium-sized enterprises (SME) are struggling with cash flow and are relying on their reserves to finance growth, according to new research. The British challenger bank, Aldermore, surveyed 300 SMEs and found that 38% are depending on cash reserves to fund future development. A further 12% said they will turn to a
A distribution company has been ordered to pay damages to a perfume manufacturer after it failed to meet several requirements of a longstanding contract. The two parties had an agreement dating back to 2003. The relationship soured and so in July 2010, the manufacturer gave 12 months notice to terminate the agreement. The distributor responded
The Government says thousands of firms are being freed from red tape as result of its campaign to reduce business regulations. The interim results from the Company and Commercial Law Red Tape Challenge show that half of the 115 regulations affecting the day to day running of businesses and filing of accounts are to be
The Government has published more information about its plans for shared parental leave and extending the right to flexible working. It says that under the new system: Employed mothers will still be entitled to 52 weeks of maternity leave as a day one right Mothers can choose to end their maternity leave after the initial
The Court of Appeal has held that the fall in property prices in the recession was “reasonably foreseeable” so a farmer can seek damages of up to £398,000 from engineering consultants who delayed work on a development by 15 months. The case involved a farmer who obtained planning permission to build houses on a field
Two directors have been found guilty of contempt of court after disposing of their company’s goodwill assets in breach of a freezing order. The two directors were involved in a family based agency which sold mechanical breakdown insurance policies. An insurance company became unhappy with the way the directors ran the agency and blamed them
The Office of Fair Trading (OFT) has put forward a set of proposals to tackle issues causing concern to both tenants and landlords in the lettings market. The OFT says it analysed 4,000 complaints from across the spectrum and found that tenants and landlords were often unhappy about fees charged by agents, the poor service
The amount of business debt owed to UK firms has soared past £1bn, according to figures released by the Credit Services Association (CSA). It shows that firms are finding it increasingly difficult to stay on top of credit control. The CSA research shows that the amount of debt outsourced by businesses to collection agencies reached
A company set up to preserve parkland has failed to stop planning permission being granted for a housing development. The issue arose when East Devon District Council granted outline planning permission for a 400-home estate in a countryside location. A total of 40% of the homes would be in the affordable housing category. The council
The European Union has agreed a one-stop patent system that will make it cheaper and easier for businesses to protect their ideas and designs. At present, applications to the European Patent Office have to be validated in individual member countries creating extra expense in translations and administration. Under the new system, only one application is