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February 2019

Disclaimer :
"Any views or opinions expressed in these blogs are solely those of the author and might not represent those of Access Credit Management Limited."

Benefiting from the Business Basics Fund

Despite the current uncertainty as we approach Brexit, there was some good news last week for small business owners across the UK.  Small Business Minister, Kelly Tolhurst, confirmed the launch of a new fund to benefit small to medium businesses (SMBs) with 15 projects across Britain winning a share of £2 million from the first round of funding from the Business Basics Fund.  The Business Basics Fund is a series of open competitions and is the main element of the Business Basics Programme which was established in June 2018 to find ways to encourage small and medium sized businesses to adopt

Debt Collection News Roundup – January, 2019

Here at Access Credit Management we aim to provide our readers with interesting and relevant news about our industry so at the end of each month we be publish a News Roundup.  We hope this keeps you up to speed on all the important developments and news within the sector so that you have a resource that ensure you’re fully informed of all the latest news.  It would be interesting to know what you, the readers, think of the stories that feature here. 

Commercial Debt and the Sole Trader

If you’re operating as a sole trader (rather than a limited company), it’s vital that you understand that there is no legal distinction between you as a person and your business.  This means that if your business is struggling to pay debts, you will ultimately be responsible for paying back the money owed from your own personal funds if you’re unable to make the payments through the profits of your business. 

Small Business Advice on Beating Brexit

With Brexit fast approaching and, it seems, the government struggling to make a deal, most of us still have no clear concept of what the outcome will be.  One thing is for certain, though – we’re sure to see some changes in the coming months and the more we prepare, the better we will be able to weather whatever comes our way.  If you’re a small business owner who trades with European partners or customers, HMRC has some advice for those who trade only with the EU on preparations they should be making in the event of a “no-deal” Brexit.

Chat about Chatbots for Small to Medium Businesses

In our recent article about the Business Basics Fund, we reported o some of the latest technology being used by businesses.  The Business Basics Fund was created to help small to medium sized businesses here in the UK to adopt digital technology to improve productivity.  We mentioned Artificial Intelligence (AI) chatbots, so today we’re brining out readers a full explanation of chatbots and how they can help your online retail business in the future.

Consumer Trends in 2019 for SME Online Retailers

If you have an online retail outlet then you’re sure to be aware that the competition is fierce online as your potential customers have so many different sellers to choose from.  While that may sound as if it’s too much competition to deal with, don’t forget that you also have a much wider prospective customer base than ever before.  Whether you sell locally, nationally, or internationally, the internet enables you to attract people from far and wide to look at your e-commerce website.  When it comes to making sure yours is a successful and popular online shop, keeping up with the latest co

Chatbots – The Benefits they Offer to Business

Last week we had a chat about Chatbots, explaining what they are and how their use is on the increase as business owners and managers realise the potential they have to help their companies.  As promised, today we’re going to look at some of the benefits that using a chatbot can bring to smaller companies.

The main value brought by chatbots is that they are able to automate conversations throughout an organisation.  Here are the top five benefits for businesses:

Repeat Customer Late Payment – How to Solve the Problem

According to recent research, one of the most common reasons that small businesses neglect to chase bad debts is they find the process “uncomfortable” or are wary of antagonising their customers.  More than a third of SMEs here in the UK are writing off thousands of pounds worth of bad debts on an annual basis which means their businesses are not as profitable as they should be.  With the UK economy so heavily dependent upon small to medium businesses, this can have a knock-on effect on the economy in general.