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small business news
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big business bullies
Alliance Boots is one of the companies that have come under criticism from the small business community, due to its policy of delaying invoice payments.

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SMEs stashing cash under the mattress
Small firms have been depositing "record" amounts of money into their business accounts to prepare for the economic slowdown, according to Lloyds TSB.
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interest rates stay at 5% for another month
The Bank of England's Monetary Policy Committee has held interest rates at 5% for the third consecutive month.

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inexperienced entrepreneurs 'should seek advice'

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may 2007
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Those who wish to start a new business but do not have any experience could benefit from professional advice, a director of the Institute of Business Consulting (IBC) has claimed.

Lynda Purser, director of the institute, remarked that "even issues that you may think are straightforward" could benefit from outside knowledge.

One of the most common mistakes made by start-ups is a lack of forward-thinking, she said.

"Thinking in a strategic way is a rare commodity and people tend to address the more day-to-day operational issues too readily without having thought through a really good plan for the business," she explained.

"Often people don't know which systems they should have, what sort of processes they need, how they can gather proper information and get the right feedback."

Visiting a consultant can even help entrepreneurs achieve more success with their business loans, she added, because all of the documents will have been reviewed thoroughly.

The IBC is the professional body for business consultants and advisers.



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