Business Now Mag

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  • BBC Business News: Music boss tops Britain's rich list
    Warner Music owner Len Blavatnik is Britain's richest man with a £13.17bn fortune, according to The 2015 Sunday Times Rich List.
  • BBC Business News: VW chairman resigns in power struggle
    Ferdinand Piech, the chairman of VW, Europe's biggest carmaker, resigns after a power struggle with his chief executive.
  • BBC Business News: VIDEO: Kent orchard spurs pear industry revival
    The UK's biggest conference pear orchard has been planted at a farm in Kent, using techniques already used abroad in a bid to help British producers compete with their foreign rivals.
  • Business Matters: UK regional cities defying perceptions internationally

    According to the new UK Export Epicentres Report by FedEx Express, the majority of SMEs across the country are doing business overseas, with Bradford leading the way with an 86 per cent export rate.

    In cities including Leicester, Oxford and Leeds, over three quarters of SMEs are exceeding expectations by trading at higher levels than Britain’s larger cities of Manchester and London.

    Exporting confidence within the capital has spread throughout the UK’s cities, with lesser known export epicentres now emerging to lead the race for international clients and custom. Bolstered by the powerful influence of “Brand Britain”, a large majority of SMEs view their regional locality as a positive factor in stimulating overseas growth and profitability. However, more than a third of those surveyed highlighted they require more support on a local level to achieve international expansion.

    “Now is the time to encourage UK SMEs to embrace their regional identities when building global relationships,” says Trevor Hoyle, Vice President, Northern Europe Operations, FedEx Express who commissioned the research. “With over 30 years’ experience capitalising on market trends in the UK, we’ve seen first-hand the wealth of benefits available to a business even at the very start of their export journey. Our main aim is to give all Britain’s regions the support and guidance they need in order to help our customers compete on a global scale.”

    The report showed there is no shortage in positive thinking about the UK’s exporting future. 94% of SMEs feel optimistic about the year ahead; with 8 in 10 believing their export sales will increase again over the same time period. With average annual export sales topping £1.9m in Portsmouth alone, strong growth is set to continue throughout the rest of 2015 and beyond.

    “This research has unveiled some fascinating insights into how regional self-perception and business optimism can be linked,” Hoyle added. “Our Great British history is rich and full of industrial heritage, the promotion of which can go a long way in driving UK exports forward. Although challenges still remain for some companies in doing business abroad, they can be overcome by having access to the right support, expertise and network.”

    Image: Exporting by Shuttersock

  • Business Matters: Over 65s are an untapped opportunity for UK Hospitality & Leisure sector

    New research shows that the over 65s added £37 billion to the UK economy through spending on the Hospitality & Leisure sector in the last year.

    This contribution equates to over a third more than the average consumer and 27 per cent higher than the 35 – 54 year olds who are the second biggest spending generation.

    Despite this, the An ageing population: the untapped potential for hospitality and leisure businesses report from Barclays Corporate Banking, reveals that the UK Hospitality & Leisure Sector has missed out on at least a further £16 billion in additional revenues by underestimating the spending power of the older generation in the last year.

    Just 5 per cent of businesses within the sector see those aged 65 and over as the most important demographic in terms of sales and revenue for their company. In fact only one in five businesses ranked over 65s in their top three target age groups.

    While a significant number of Hotel and Travel businesses are alert to the fact that the over 65s spend more per customer than any other group, more than a third of businesses in the sector perceive 34-44 year olds as their priority target market, despite these consumers spending less money on average.

    Mike Saul, Head of Hospitality and Leisure at Barclays, said: “It is clear from the Report that the over 65 age group is a huge and untapped opportunity for the Hospitality and Leisure Sector with the UK. There appears to be a gulf between the perception and reality of the spending power of over 65s. By not fully focusing on the needs of this generation, and the revenue growth opportunity they represent, businesses may risk missing out on their share of £16 billion this year alone.

    “We have found that almost two-fifths of businesses in the sector expect that the proportion of their turnover generated by over 65s will increase over the next five years. Yet more needs to be done to start planning and accommodating for the currently ‘overlooked generation’. By investment in targeting these customers now, businesses can pre-empt the effects of an ageing population, ensuring they are able to meet and capitalise on the increasing demand.”

    With less than 8 per cent of over 65s visiting travel agents in shops when looking for information on products and services, the use of digital tools is becoming increasingly important for over 65s planning their leisure time. When looking for information on products and services the first port of call for the over 65s is the internet. 58 per cent of over 65s use search engines, 35 per cent of them turn to online customer reviews and 18 per cent use online travel agents.

    Image: Holiday makers by Shutterstock

  • BBC Business News: 'Inconsistency' in air duty refunds
    Parents due partial refunds on their children's air tickets face a variety of ways to claim the money.
  • BBC Business News: VIDEO: Where is immigration welcome?
    Unemployment has hit a seven-year low, but more than a third of the new jobs created last year went to workers from abroad.
  • BBC Business News: Is your partner a financial bully?
    Is your partner a financial bully?
  • BBC Business News: Nasdaq and S&P 500 at record highs
    The Nasdaq and S&P 500 close at new record highs after US tech firms report strong first quarter profits.
  • BBC Business News: VIDEO: Homeowners 'may struggle to move'
    Up to four million homeowners could struggle to move house as a direct result of the new rules on mortgage applications which came in last year.
  • CNN Business: How a big Italian bank was slammed by a hoax
    Read full story for latest details.
  • BBC Business News: Harley-Davidson recalls 46,000 bikes
    Harley-Davidson is recalling nearly 46,000 motorcycles in the US because the bikes could stay in gear due to clutches that won't fully disengage.
  • CNN Business: 10 things you must know about Apple's earnings
    Read full story for latest details.
  • BBC Business News: 'Up to 40% facing mortgage trap'
    Around 40% of homeowners with mortgages could struggle to move because they would not qualify for a new loan under tough new rules
  • CNN Business: HSBC: We may quit UK
    Read full story for latest details.

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