Latest news with #SMEs
Yahoo
9 hours ago
- Business
- Yahoo
UK construction SMEs struggle to access finance: BFS Report
Despite growing confidence in future sales, UK construction SMEs are facing significant financial headwinds, with access to external finance tightening just as cost pressures and bad debt levels rise, according to new research from Bibby Financial Services (BFS). The report, based on BFS's Q1 2025 SME Confidence Tracker, reveals a mixed picture for small and medium-sized firms in the construction sector. While 67% of construction SMEs expect sales to rise over the next 12 months — up from 57% a year ago — more than half (51%) say it has become harder to secure external finance, the highest proportion of any sector surveyed. This access-to-finance gap comes at a time when construction SMEs are dealing with persistently high costs for materials and labour, complex contract terms, and a growing burden of bad debt. BFS data shows these firms have written off an average of over £23,000 in the past year, and nearly one-third (29%) report insufficient cashflow to manage day-to-day operations. BFS Construction Finance ReportDownload The impact of elevated raw material prices, particularly timber and concrete, has been especially acute, with 72% of SMEs saying these pressures are directly eroding profitability. Small firms, often less able to hedge or absorb cost spikes, are also more exposed to supply chain disruption and inflation than their larger counterparts. Insolvency rates are rising as a result. Nearly one in five (18.1%) of all business insolvencies in England and Wales in March were from the construction sector, according to data from the Building Cost Information Service (BCIS). Despite the Government's Industrial Strategy pledging £100 billion in capital investment and a commitment to build 1.5 million homes over the next five years, smaller construction firms are sceptical. Four in ten (40%) doubt the Government's ability to support them effectively, with many concerned that the lion's share of benefits will flow to large main contractors. The situation is compounded by increasingly difficult access to finance. While the Government has identified improving SME finance as a key policy goal, BFS's research suggests the reality on the ground is diverging. Only 32% of construction SMEs say they use finance for day-to-day operations, but for many, that finance is now harder to obtain. 'The Government's commitment to invest in the construction sector may explain rising optimism,' said Derek Ryan, UK Managing Director at BFS. 'However, inflation, rising costs and restricted access to finance are squeezing margins and exposing small firms to greater insolvency risk. To unlock the full potential of the construction pipeline, SMEs must be given equitable access to opportunities and funding.' BFS's report also points to contractual dynamics that disproportionately impact smaller firms. Nearly half (48%) of construction SMEs find contracts difficult to understand, a figure that climbs to 56% among micro-firms with fewer than 10 employees. These businesses are often locked into rigid payment terms and report limited ability to negotiate, only 26% say they can influence contract terms, compared to 58% of larger small firms (10–50 employees). The Federation of Master Builders echoed the call for stronger SME support, warning that unless access to finance, skills and planning is improved, the sector's smallest firms will continue to face a systemic disadvantage. 'Small builders are showing remarkable resilience and optimism, but they face mounting challenges,' said Brian Berry, Chief Executive of the FMB. 'Access to finance is harder than ever, and planning policy too often favours large developers. If the Government wants to build more homes and boost local economies, it must ensure that SMEs aren't left behind.' As construction continues to be a cornerstone of the UK's economic recovery strategy, the message from industry and finance alike is clear: if SMEs are to help deliver the Government's growth agenda, greater financial accessibility and structural reforms must be prioritised. "UK construction SMEs struggle to access finance: BFS Report" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
10 hours ago
- Business
- Zawya
SME compliance in South Africa: What every small business should know?
South African small and medium enterprises (SMEs) face a wide range of legal and tax compliance demands that, if neglected, can result in serious penalties. From tax registration to health and safety laws, business owners must understand the rules that govern them to stay in good standing with authorities. Motumi Tsoeute | image supplied Motumi Tsoeute, senior compliance specialist at Sage Africa and Middle East, outlines key areas SMEs must get right: Formally registering your company with the Companies and Intellectual Property Commission (CIPC) separates your personal and business finances and limits your legal liability. Once registered, SMEs must file annual returns and report any changes to company information such as ownership, directorship or registered address. All businesses must be registered with Sars for tax purposes. Registered companies are issued with an Income Tax number and must file annual returns and provisional tax. Accurate records, including a balance sheet and income statement, are required. If you generate taxable supplies exceeding R1m per year, VAT registration is mandatory. For supplies under this threshold but over R50,000 in the past 12 months, voluntary registration is possible. VAT submissions and payments are done according to a schedule set by Sars. Employers must also register for Pay-As-You-Earn (Paye) and submit monthly and bi-annual returns. Additional payroll-related taxes, including the Skills Development Levy (if annual payroll exceeds R500,000) and Unemployment Insurance Fund (UIF), must be considered. SARS eFiling is essential for managing submissions, and SMEs working with tax practitioners must ensure all information submitted is accurate. Labour legislation Employers are bound by the Basic Conditions of Employment Act (BCEA), which covers hours of work, overtime, leave and employee dismissal. SMEs must also comply with the National Minimum Wage and any bargaining council agreements that may apply. Consumer and data protection Laws like the Protection of Personal Information Act (POPIA), Consumer Protection Act and GDPR govern how SMEs interact with customers, advertise products, manage personal data and handle returns. Modernise with automation Accurate, real-time recordkeeping is critical for compliance. Cloud-based accounting and payroll tools help SMEs maintain financial records, track taxes, send invoices and issue payslips. These systems also update automatically with legal changes. Avoiding penalties The risks of non-compliance include legal action, fines, reputational damage and SARS scrutiny. SMEs are encouraged to: "Compliance isn't just about ticking boxes—it's the foundation of a sustainable business," says Tsoeute. "It helps SMEs build trust, protect their operations, and set themselves up for long-term success." EA), which covers hours of work, overtime, leave and employee dismissal. SMEs must also comply with the National Minimum Wage and any bargaining council agreements that may apply. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Yahoo
11 hours ago
- Business
- Yahoo
UK construction SMEs struggle to access finance: BFS Report
Despite growing confidence in future sales, UK construction SMEs are facing significant financial headwinds, with access to external finance tightening just as cost pressures and bad debt levels rise, according to new research from Bibby Financial Services (BFS). The report, based on BFS's Q1 2025 SME Confidence Tracker, reveals a mixed picture for small and medium-sized firms in the construction sector. While 67% of construction SMEs expect sales to rise over the next 12 months — up from 57% a year ago — more than half (51%) say it has become harder to secure external finance, the highest proportion of any sector surveyed. This access-to-finance gap comes at a time when construction SMEs are dealing with persistently high costs for materials and labour, complex contract terms, and a growing burden of bad debt. BFS data shows these firms have written off an average of over £23,000 in the past year, and nearly one-third (29%) report insufficient cashflow to manage day-to-day operations. BFS Construction Finance ReportDownload The impact of elevated raw material prices, particularly timber and concrete, has been especially acute, with 72% of SMEs saying these pressures are directly eroding profitability. Small firms, often less able to hedge or absorb cost spikes, are also more exposed to supply chain disruption and inflation than their larger counterparts. Insolvency rates are rising as a result. Nearly one in five (18.1%) of all business insolvencies in England and Wales in March were from the construction sector, according to data from the Building Cost Information Service (BCIS). Despite the Government's Industrial Strategy pledging £100 billion in capital investment and a commitment to build 1.5 million homes over the next five years, smaller construction firms are sceptical. Four in ten (40%) doubt the Government's ability to support them effectively, with many concerned that the lion's share of benefits will flow to large main contractors. The situation is compounded by increasingly difficult access to finance. While the Government has identified improving SME finance as a key policy goal, BFS's research suggests the reality on the ground is diverging. Only 32% of construction SMEs say they use finance for day-to-day operations, but for many, that finance is now harder to obtain. 'The Government's commitment to invest in the construction sector may explain rising optimism,' said Derek Ryan, UK Managing Director at BFS. 'However, inflation, rising costs and restricted access to finance are squeezing margins and exposing small firms to greater insolvency risk. To unlock the full potential of the construction pipeline, SMEs must be given equitable access to opportunities and funding.' BFS's report also points to contractual dynamics that disproportionately impact smaller firms. Nearly half (48%) of construction SMEs find contracts difficult to understand, a figure that climbs to 56% among micro-firms with fewer than 10 employees. These businesses are often locked into rigid payment terms and report limited ability to negotiate, only 26% say they can influence contract terms, compared to 58% of larger small firms (10–50 employees). The Federation of Master Builders echoed the call for stronger SME support, warning that unless access to finance, skills and planning is improved, the sector's smallest firms will continue to face a systemic disadvantage. 'Small builders are showing remarkable resilience and optimism, but they face mounting challenges,' said Brian Berry, Chief Executive of the FMB. 'Access to finance is harder than ever, and planning policy too often favours large developers. If the Government wants to build more homes and boost local economies, it must ensure that SMEs aren't left behind.' As construction continues to be a cornerstone of the UK's economic recovery strategy, the message from industry and finance alike is clear: if SMEs are to help deliver the Government's growth agenda, greater financial accessibility and structural reforms must be prioritised. "UK construction SMEs struggle to access finance: BFS Report" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
13 hours ago
- Business
- Zawya
KFED and ADPIC sign strategic agreement to collaborate on infrastructure development in Abu Dhabi
Abu Dhabi: The Khalifa Fund for Enterprise Development (KFED) and the Abu Dhabi Projects and Infrastructure Centre (ADPIC) signed a strategic agreement to advance bilateral cooperation and support the procurement activities of entrepreneurs and small and medium-sized enterprises (SMEs) through the Abu Dhabi SME Champions Programme. The agreement was signed by Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development and H.E. Maysarah Mahmoud Eid, Director General of ADPIC, during the Abu Dhabi Infrastructure Summit, held recently at the Abu Dhabi Energy Centre. The strategic decision reaffirms both entities' commitment to accelerating industrial development and offering innovative solutions to entrepreneurs operating in the infrastructure sector. Most notably, the agreement seeks to accomplish key objectives –providing targeted procurement support programs for SMEs, connecting these enterprises with government and private sector entities across Abu Dhabi to capitalise on available procurement opportunities, and facilitating cooperation and participation in SME-focused programs and activities in the emirate to promote the sustainable development of the sector. Commenting on the agreement, Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development, said: 'We are pleased to further strengthen our partnership with ADPIC through this strategic agreement, enabling us to empower entrepreneurs and enhance their role in Abu Dhabi's vital infrastructure sector. The collaboration fuels our shared commitment to supporting SMEs and fostering an environment that promotes innovation and growth, which aligns with the forward-thinking vision of our wise leadership and Abu Dhabi's goals of building a more sustainable and advanced future.' H.E. Maysarah Mahmoud Eid, Director General of ADPIC, added,"This strategic partnership with the Khalifa Fund is a pivotal step in strengthening Abu Dhabi's economic ecosystem. Our collaboration underscores ADPIC's commitment to a holistic approach to infrastructure development. By actively supporting our SMEs and integrating them into critical infrastructure projects, we are fostering innovation and local content while also diversifying our supply chain, driving sustainable growth, and building a more resilient and inclusive economy for the future of our Emirate.' The Abu Dhabi Infrastructure Summit serves as a comprehensive platform for policymakers, investors, developers, contractors, and industry experts from around the world to address emerging trends, showcase innovative solutions, and expand strategic partnerships that drive the development of resilient, integrated cities. By gathering industry leaders and innovators under one roof, the event seeks to promote excellence in the construction and urban planning sectors, ultimately raising living standards in accordance with Abu Dhabi's ambitious vision for sustainable development and economic prosperity. About Khalifa Fund for Enterprise Development: The Khalifa Fund is an independent, non-profit organisation affiliated with Abu Dhabi Government. Its mission is to nurture the culture of entrepreneurship, promote innovation, and offer support for small and medium-sized enterprises (SMEs) within the UAE through a balanced ecosystem. Founded in 2007 in accordance with Law No. 14 of 2005 and its amendments, the Fund was established to align with the vision of the late His Highness Sheikh Khalifa Bin Zayed Al Nahyan, former President of the United Arab Emirates. About Abu Dhabi Projects and Infrastructure Centre: Established in 2023, ADPIC's vision is to oversee and manage capital projects aimed at enhancing the quality of life for every resident in the Emirate of Abu Dhabi. This involves diverse projects such as housing, infrastructure, tourism, community facilities, and education. ADPIC's mandate includes managing contracts, reviewing, approving, planning, and designing capital projects. These are overseen by the Centre in close collaboration with relevant entities and stakeholders to ensure quality is maintained while also facilitating efficient project execution in alignment with Abu Dhabi's strategic goals. Throughout its operations, the Centre is committed to strengthening public-private partnerships and adopting global best practices in sustainability.
Globe and Mail
a day ago
- Business
- Globe and Mail
Independent Software Vendors (ISVs) Market Set to Witness Significant Growth by 2025-2032
"Independent Software Vendors (ISVs) Market" Industry Overview The Independent Software Vendors (ISVs) market is experiencing rapid expansion driven by digital transformation and cloud adoption across enterprises. Heightened demand for specialized vertical and horizontal applications is reshaping business growth strategies and industry size. This analysis aligns with our Independent Software Vendors Market report, emphasizing unique market dynamics and actionable market insights for 2025–2032. Market Size and Overview- The Global Independent Software Vendors Market size is estimated to be valued at USD 2,377.7 Mn in 2025 and is expected to reach USD 8,771.3 Mn by 2032 (market forecast), exhibiting a compound annual growth rate (CAGR) of 20.5% from 2025 to 2032. This market size and market report underscores robust market growth and evolving market opportunities across regions. Request Sample Pages: Key Takeaways: • North America: Early adoption of SaaS and cloud-native applications drives market share dominance in ISV solutions. • Latin America: Rising digitization in SMEs fuels demand for localized independent software offerings. • Europe: GDPR compliance and vertical-specific tools spur market growth and business expansion. • Asia Pacific: Rapid cloud infrastructure spending (up 24% in 2024) accelerates ISV partnerships and deployments. • Middle East: Government-led digital initiatives boost demand for tailored ISV applications in finance and health. • Africa: Mobile-first strategies and rising smartphone penetration catalyze independent software vendor opportunities. • Segment Covers—Deployment Model: – On-Premises: Used by regulated industries requiring data sovereignty (e.g., banking). – Cloud (SaaS/PaaS): Adopted by 68% of enterprises for subscription-based revenue streams. • Segment Covers—Application Type: – Horizontal Software: CRM, ERP solutions leveraged by multiple sectors. – Vertical Software: Healthcare, retail, manufacturing use cases for specialized workflows. • Segment Covers—Enterprise Size: – SMBs: Cost-effective, plug-and-play ISV suites for rapid scaling. – Large Enterprises: Custom integrations, API-driven platforms for complex ecosystems. Growth Factors: • Cloud Migration Surge: According to our Independent Software Vendors Market report, global enterprise cloud budgets climbed 22% in 2024 to USD 558 Bn, enabling ISVs to forge new subscription models. • AI/ML Integration: Over 65% of ISVs embedded AI-driven analytics in 2024, driving a 30% jump in per-customer revenue. • Digital Transformation Programs: In 2025, 72% of Fortune 500 companies accelerated ISV partnerships for industry-specific applications, supporting overall market growth. • Regulatory Compliance Tools: GDPR and data-privacy regulations spurred a 28% increase in demand for secure, audit-ready ISV platforms during 2024. Market Trends: • Low-Code/No-Code Adoption: Independent Software Vendors Market trends reveal low-code revenue grew 25% in 2024, enabling faster go-to-market cycles for complex workflows. • API Economy Expansion: API call volumes rose 30% Y-o-Y in 2024, enhancing ecosystem interoperability and driving new market opportunities. • Microservices & Containerization: 58% of ISV deployments in 2025 leveraged microservices architectures, reducing time-to-value by 35% and optimizing resource utilization. Get Customization on this Report: Actionable Insights: • Production Capacity: Over 8,500 new ISV solutions launched in 2024 (+15%), reflecting scalable development pipelines. • Pricing Strategies: Average subscription fees increased 12% in 2025 as feature bundling became a core market driver. • Export Volumes: Cross-border ISV exports surged by 20% to USD 45 Bn in 2024, highlighting expansion into emerging economies. • Import Trends: Niche vertical applications imports grew 30% in 2025, indicating diversified demand across industries. • Micro- & Nano-Indicators: API response times improved 18% in 2024; monthly active user counts for SaaS solutions climbed 10% in 2025, signaling healthy user engagement and market revenue upside. Key Players: Microsoft Corporation, Oracle Corporation, SAP SE, Inc., Adobe Inc., IBM Corporation, Autodesk Inc., Intuit Inc., VMware Inc., Red Hat Inc., ServiceNow Inc., Symantec Corporation (Broadcom Inc.), Splunk Inc., Tableau Software ( Inc.), Atlassian Corporation Plc. • Microsoft's Partner Network expansion drove a 25% rise in ISV app downloads in 2024 by integrating Azure Marketplace incentives. • Salesforce's co-selling program generated 30% growth in joint pipeline deals during 2025, cementing its ecosystem play. • Adobe's 2025 acquisition of an API-first e-commerce ISV boosted its digital experience segment revenue by 18%. Buy this Complete Business Research Report: FAQs 1. Who are the dominant players in the Independent Software Vendors Market? Dominant players include Microsoft, Oracle, SAP, Salesforce, Adobe, IBM, and ServiceNow, which collectively lead in market share through broad portfolios and partner ecosystems. 2. What will be the size of the Independent Software Vendors Market in the coming years? Independent Software Vendors Market size is projected to grow from USD 2,377.7 Mn in 2025 to USD 8,771.3 Mn by 2032 at a 20.5% CAGR. 3. Which end-user industry has the largest growth opportunity? The healthcare vertical, driven by telehealth and regulatory compliance tools, offers the highest growth opportunity, with demand up 32% in 2024. 4. How will market development trends evolve over the next five years? Independent Software Vendors Market trends indicate accelerated low-code adoption, deeper AI integration, and increased microservices deployments to enhance agility and scalability. 5. What is the nature of the competitive landscape and challenges in the Independent Software Vendors Market? Competition centers on platform interoperability, pricing pressure, and compliance features. Market challenges include talent scarcity and evolving data-privacy regulations. 6. What go-to-market strategies are commonly adopted in the Independent Software Vendors Market? ISVs leverage partner ecosystems, co-selling initiatives, marketplace listings, and tiered subscription models to penetrate new segments and optimize revenue streams. About Us: Coherent Market Insights leads into data and analytics, audience measurement, consumer behaviors, and market trend analysis. From shorter dispatch to in-depth insights, CMI has exceled in offering research, analytics, and consumer-focused shifts for nearly a decade. With cutting-edge syndicated tools and custom-made research services, we empower businesses to move in the direction of growth. We are multifunctional in our work scope and have 450+ seasoned consultants, analysts, and researchers across 26+ industries spread out in 32+ countries.
