smallbusiness.co.uk: Helping your business think big

Are you working too hard?

News that UK entrepreneurs are clocking up 50-hour weeks will...
Have your say »

RSS

FPB says economy unsustainable for small businesses

Jun 27 2008

FPB says economy unsustainable for small businesses

There is a 'toxic combination' of problems facing small firms in the UK, according to the Forum of Private Businesses (FPB).

Phil McCabe from the forum explains that 'surging' oil prices and high fuel duty have created an 'unstable situation' for SMEs.

He comments: 'Many [SMEs] see little point in planning for the future, as they are unable to predict when oil prices will stabilise.'

The FPB reports that a number of their members are already having problems coping with high fuel costs as they cannot afford to absorb the cost themselves and are therefore being forced to pass the increases in prices onto customers.

Having to do this makes small firms less competitive, McCabe explains.

The Federation of Small Businesses has recently revealed in a survey that rises in fuel costs are already stifling the growth of UK firms and the economy.

In a poll of some 9,000 SME owners, more than 80 per cent revealed that increasing fuel costs will prevent them from employing more staff or growing.

Comments

There are currently no comments on this article

Prize Draw

Enter our prize draw!!

You've probably noticed smallbusiness.co.uk has a brand new look. You can personalise the homepage to suit your needs and there's lots of new content including video, blogs and the small business resource centre.

We're interested to know what you think about the new small business site, so we'd like you to take this opportunity to have your say. All entrants will be entered into our free prize draw to win a bottle of champagne provided by our partners at Laithwaites! Enter here

Polls

Latest News

Slow payments 'hitting businesses'

Quick billing from suppliers and fewer companies adhering to agreed payment terms is causing problems for small firms, research finds.

Small firm owners resilient to failure, bank claims

Entrepreneurs whose firms go under move straight back into business in 85 per cent of cases, a survey from Barclays Bank finds.

Rising costs and weak spending 'squeezing' businesses

Retailers are suffering under falling customer demand and rising costs, according to Capital Economics.

Failure in business 'a lesson learned'

British start-ups need to regard failure as 'a lesson learned' rather than something negative, according to entrepreneur Shaa Wasmund.

Companies should exploit intellectual property, says IPO

All businesses, in any industry, will be creating intellectual property they need to protect, entrepreneurs are warned.

CBI poll shows manufacturers' seven year confidence low

British manufacturers are more pessimistic about their future output than they have been for the past seven years, the Industrial Trends Survey produced by the Confederation of British Industry (CBI) shows.

Redundancy a spur to business start-up

Fear of being made redundant is encouraging people to set up on their own, according to a survey.

More business focus needed at school

The youngest member of the Forum of Small Business has hit out at the education system as it emerges only 11 per cent of young people intend to study science and technology related subjects.

SMEs working longer weeks

British entrepreneurs are clocking up 50 hours every week, according to a survey on the work-life balance culture of Britain's small business managers.

No time for holidays, insurer says

More than a fifth of small business owners in the UK do not have time to take a day off as holiday over the whole year, according to a survey.

Franchises offer 'a proven and profitable model'

The 'proven and profitable model' offered by franchises has caused a steady increase in the number of potential entrepreneurs taking up the service, a survey shows.

Guides & Tips

Start-up survival: the early days

When I sold my venture capitalist firm in 2000 and I was asked what tips I had for start-up companies, my initial response was, ‘Just don’t do it!’

Guide to writing a business plan

This 10-point guide shows the benefits of a good business plan and what to consider when writing one.

Business start-up organiser

You’ve had the inspiration, the idea, spotted the gap in the market and your friends all think it will work, but how will you actually get your business going?

Don't Miss

Rising star: Piers Daniell

Still only 26, Piers Daniell has taken internet service provider Fluidata from the confines of his bedroom to a £2 million business in the space of two years

Business loans for starting up abroad

There is no reason in principle you cannot finance the purchase of an overseas business in the UK. The Business Banking Code says that before a bank lends you any money, they will assess whether they feel that you will be able to repay it.

Learning the language

Like it or not, setting up business abroad in all probability means you will have to learn the local language to a reasonable standard in order to have a decent shot at success. Just filling in tax and registration forms can require a fluent speaker, let alone actually doing business.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.