wefinda UK small business weekly news 9th August 2010

Top of this week’s news is the Bank of England’s Monetary Policy Committee which held interest rates at 0.5%. The European Central Bank also held its rate at 1%. If you missed the announcement then sign up to Wefinda on twitter and catch next month’s announcement and much more.

Most worrying topic of the week is the predicted world grain shortage. With the late winter and hot spring we have just had, some UK farmers had already begun to cut the wheat crop green to provide silage to feed their animals this winter. Now with the drought and fires raging in Russia leading to a ban on wheat exports from Russia, the prospect of a world shortage looms higher. With wheat and grain prices predicted to rise sharply, foods making use of grain, from bread to beer, are likely to rise in price. Meat and animal products will also rise due to higher costs for animal feed so expect the cost of milk and eggs also to rise. With inflation already on the up, the added prospect of food inflation is a particular worry for all businesses involved in the food trade.

NetRegs are currently highlighting the duty of care that all businesses have towards their waste including paper and printer cartridges. This duty even extends to home based businesses so it is worth checking out the regulations. Further information is available on the NetRegs website on www.netregs.gov.uk/netregs/63197.aspx.

For SMEs using Sage 50 accounts, the latest version has now launched. Sage say that this version will help to simplify the management of customers, suppliers and finances. Let us know what you think if you upgrade.

So what do we have to look forward to in the coming week?
The main item of note next week is the latest inflation figures which are out on 11th August at 10.30. With Parliament and the EU remaining in summer slumber mode, Wefinda suggests that all you London based businesses should make the most of the summer. Ping London in association with sport England has set up 100 table tennis tables around London. Find one and play for free.

Finally, at Wefinda we love to celebrate business success stories. We were therefore really pleased to hear that the Duckworth Group (www.duckworthgroup.co.uk) has managed to increase its turnover by a massive 400% in the last six months. The secret of the Duckworth success was simply to concentrate on improving its websites’ SEO via key words, articles and back links. The group’s three main divisional websites have achieved page 1 on Google and the increase in business includes the contract for end of term cleaning at the Bristol University Halls of Residence and a contract to transform office premises in Holborn into luxury flats. The Duckworth Group which offers a range of cleaning, building and other services for the home and business in London and Bristol is close to completing plans to expand its offering in three other areas of the country and is living proof that getting your website right can dramatically increase turnover.

If you have a business success story, share it with us on mail@wefinda.co.uk.