UK

According to the latest SME Index from Zurich UK Commercial, a staggering 80% of small businesses say their markets are now more competitive than they were in July and August last year.

March saw further tentative growth of the UK manufacturing economy.

The report of the Competition Commission into the treatment of small business by the major clearing banks has been enthusiastically welcomed by Leslie Bland, Chief Executive of Newbury-based Close Invoice Finance, who has been a champion of the SM

London-based factoring company DCD Factors have today released their annual accounts for the year ended 31 December 2001.

HSBC has received the government’s response to the Competition Commission’s inquiry into banking services for small and medium sized businesses (SMEs) and issued the following statement:

The Government has accepted in full the findings and recommendations of the independent Competition Commission following its investigation into the supply of banking services to SMEs.

Alliance Trade Finance, the speciality trade finance provider, today released their annual accounts for the year ended 31 July 2001. The accounts show that turnover has risen by 10.7% from Ј30.36m in the year ended 31 July 2000 to Ј33.61m.

A European Commission Directive that gives businesses the right to claim interest on late payments will come into effect on 8 August 2002, three months earlier than envisaged.

New research on projected borrowing patterns highlights need for better relationships between banks and SMEs

The accounts of Singer and Friedlander Factors Ltd for the year ended 31 December 2001 have today been released, showing a dramatic increase in losses before tax.